What is Bitcoin

What is Bitcoin ? FxPremiere Group elaborates on the Industry of the Digital Coin Breakout!

What is BitCoin ?

What is BitCoin? Bitcoin is a worldwide cryptocurrency and digital payment system called the first decentralized digital currency.

Bitcoin, the category creator of blockchain technology, is the World Wide Ledger yet extremely complicated and no one definition fully encapsulates it. By analogy it is like being able to send a gold coin via email. It is a consensus network that enables a new payment system and a completely digital money.

The Bitcoin was the first practical implementation and is currently the most prominent triple entry bookkeeping system in existence.

What is Bitcoin?

What is Bitcoin?

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Who Created BitCoin?

The first Bitcoin specification was published in 2009 under the pseudonym Mr Satoshi Nakamoto.

Everyone has access to all of the source code all of the time and any developer can review or modify the software code. As such, the identity of Bitcoin’s inventor is probably as relevant today as the identity of the person who invented paper.

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What is Bitcoin?

What is Bitcoin?

Who is involved in Bitcoin?

Over $1.1B of investment into Bitcoin and block-chain companies has taken place wi thousands of companies and hundreds of thousands of individuals involved from around the world.

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Who controls the Bitcoin network?

Nobody owns the Bitcoin network much like no one owns the technology behind email or the Internet. Bitcoin transactions are verified by Bitcoin miners which has an entire industry and Bitcoin cloud mining options.

Stay compatible with all users need to use software complying with the same rules. What is Bitcoin? Bitcoin can only work correctly with a complete consensus among all users.

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How does Bitcoin work?

Behind the scenes, the Bitcoin network is sharing a massive public ledger called the “block chain”. This ledger contains every transaction ever processed which enables a user’s computer to verify the validity of each transaction.

How to Accept Bitcoin Payments as a Merchant

Each Bitcoin price increase brings in a new line of merchants. Bitcoin’s jump to $1,111 in 2013 pushed merchants like Microsoft, Tiger Direct, and Dell to accept Bitcoin payments online. There are no chargebacks with Bitcoin. Any confirmed transaction is protected by the network and can’t be reversed. Remember: Bitcoin is digital cash.

Accepting Bitcoin payments makes sense for any business. This guide will explain the benefits of accepting Bitcoin and how to integrate it with your store or business.

What are the Benefits for Merchants?

Low Fees

Most Bitcoin payment processors charge 1% or less per transaction. Better yet, accepting Bitcoin without converting bitcoins to local currency is completely free – What is Bitcoin?

With bitcoin, we pretty much eliminated transaction fees.

What is Bitcoin? Well, they want to acquire new customers. They want to increase new revenue. And with bitcoin, we’re seeing this quite often and the great thing about acquiring new bitcoin customers, these are your merchant’s favorite type of customers. They actually spend more. They come back more often and they refund less. I’m hearing this over and over again from all my merchants actually.

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Bitcoin Payment Processors

Bitaps provides Bitcoin processing RESTful API without registration and restrictions. API includes basic processing, affiliate and mass payments, Bitcoin smart contracts to keep distributed hot wallet and cold storage balances, standard Bitcoin ledger API, market prices and a lot of other tools for developers.

Shopify merchants can accept Bitcoin payments through BitPay’s API.Think of us like First Data.

That was our Series round, it was the largest ever bitcoin fundraising round. The  bitcoin as truly a global digital currency.

BitPay is the world’s largest Bitcoin payment processor. Merchants on BitPay’s starter plan can accept up to 30 transactions or $1,000 of Bitcoin payments per month for free. Larger merchants pay just 1% per transaction.

Processing – mining

It enforces a chronological order in the block chain, protects the neutrality of the network, and allows different computers to agree on the state of the system.

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