bitcoin for dummies

Bitcoin for Dummies

Redacted correspondent John F. ODonnell explains how Bitcoin works and how it could revolutionize the global economy.

The Bitcoin and digital currency mania continues to sweep the world like never seen before.

The soaring value of cryptocurrencies provides a massive incentive for individuals, dummies and businesses to join the party. Those who cashed in during the meteoric rise of digital currencies, like bitcoin, know just how much difference the right investment decisions can make.

However, it is never too late for anyone to make a killing with cryptocurrency, bitcoin inclusive. There are many reasons why people are adopting digital currencies in droves besides the profit potential.

First, cryptocurrencies, like Bitcoin, are incredibly secure. Technology aficionados and enthusiasts worldwide would agree that the blockchain, the ledger which underpins cryptocurrencies is hugely secure, especially for digital currencies like bitcoin.

The blockchain has been carefully built to make it hard for robbers to change or tamper with data. Second, your transactions cannot be traced back to you unless you publicize your wallet address.

Third, there is no paperwork involved, unlike what is obtainable with traditional bank accounts. You can start trading cryptocurrencies without providing proof of address, ID card, or passport. However, the opposite may hold if you intend to trade large sums.

But if you are trading small amounts, all you will be needing is your wallet and address. Fourth, as cryptocurrencies are highly anonymous, you do not have to worry about identity theft when dealing in them.

Besides, cryptocurrency transactions are completed within few minutes, unlike traditional debt settlement systems which always take time.

Now that you have an idea on how cryptocurrencies can benefit you, this audiobook aims to provide even more information to help you grow digital currency literacy and critical thinking further.

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My Journey Towards A Bitcoin Standard