Bitcoin (₿) is a cryptocurrency. Bitcoin is a digital and global money system currency. It allows people to send or receive money across the internet, even to someone they don't know or don't trust. Money can be exchanged without being linked to a real identity. The mathematical field of cryptography is the basis for Bitcoin's security.
Bitcoin was invented by someone using the name Satoshi Nakamoto. A Bitcoin address, or simply address, is an identifier of 26-35 letters and numbers, beginning with the number 1 or 3, that represents a possible destination for a bitcoin payment. Addresses can be generated at no cost by any user of Bitcoin. For example, using Bitcoin Core, one can click "New Address" and be assigned an address. It is also possible to get a Bitcoin address using an account at an exchange or online wallet service.
There are currently two address formats in common use:
Common P2PKH which begin with the number 1; e.g.: 1BvBMSEstWetqTFn5Au4m4GFg7xJaNVN2.
Newer P2SH type starting with the number 3; e.g.: 3MXknxVapwv6QkMoQv99MBuXZ2XpPewHn9.
A digital currency trading can be a brick-and-mortar business or a strictly online business. As a brick-and-mortar business, it tradings traditional payment methods and digital currencies. As an online business, it tradings electronically transferred money and digital currencies.Often, the digital currency tradings operate outside the Western countries to avoid regulation and prosecution. However, they do handle Western fiat currencies and maintain bank accounts in several countries to facilitate deposits in various national currencies.tradings may accept credit card payments, wire transfers or other forms of payment in trading for digital currencies or cryptocurrencies.
The tradings can send cryptocurrency to a user's personal cryptocurrency wallet. Some can convert digital currency balances into anonymous prepaid cards which can be used to withdraw funds from ATMs worldwide while other digital currencies are backed by real-world commodities such as gold.
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