In this article with bitcoin infographic, you will learn everything you need to know to mine bitcoin. An easy to follow guide to help you understand the basics of Bitcoin.
How Bitcoin Mining Works – Bitcoin (or BTC as it’s affectionately known) is a virtual currency (often referred to as a cryptocurrency). It can be exchanged between two parties without the need for a governed banking system. BTCs are essentially pieces of digital code that represent units of money. Recently, the cryptocurrency has seen a huge increase in popularity.
In many ways, Bitcoin is similar to how actual money in a bank exists. But only as an entry on a bank’s digital ledger, not as a physical entity. The difference is that cryptocurrencies such as Bitcoin aren’t controlled by any bank or country. The price is set by the open market. This means that it is purely based on what people are willing to pay for them. Hence their volatile nature.
Bitcoin fans are calling it the “future of money”, fiercely predicting it will transform the global financial system as we know it, but others are much more sceptical. It is however, quite easy to get bogged down by all the technical jargon if you don’t understand the basics. This is why Cartwright King have devised an easy to follow guide in a bitcoin infographic to help you understand the basics of Bitcoin, where it came from and what you can do to get involved.
