The Bitcoin (BTC) - No.1 among the crypto currencies

Bitcoin
Bitcoin - What is Bitcoin?

Compared to other e-payment providers, Bitcoin is not a provider but a crypto currency behind which a community stands. Not much is known about the history of origins. In connection with the establishment of Bitcoin is always of a "Satoshi Nagamoto" the language, it is however not well-known whether it concerns a real person. It could be an individual or a network behind the name. But how does this mysterious course of events come about? The concept of Bitcoin was first introduced in 2008. This happened on a mailing list about cryptography.

In 2009, the first 50 Bitcoins were created and nothing more stood in the way of the success of this crypto currency, because today Bitcoin is one of the most popular payment options on the Internet. The special thing about Bitcoin is that it is a digital currency in its own right and, from its basic concept, is in direct competition with all other currencies. Only evenly that behind it no country stands but all users, who possess and act Bitcoin.

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Youtube-Video: What is Bitcoin? Bitcoin Explained Simply for Dummies

What is Bitcoin?

The official definition at Wikipedia is: "Bitcoin is a digital monetary unit of a worldwide decentralized payment system. The Bitcoin Foundation, which officially stands behind Bitcoin, can be found here.

The actual idea of the Bitcoins allegedly first came into play in 1998. At that time, there was initially talk of a crypto-currency. The whole thing was realized in 2009, initiated by a person (or a group) with the name Satoshi Nakamoto. Unfortunately, with regard to the history of the Bitcoins, we couldn't find out very much about Nakamoto. He or she left the project already in 2010, and shortly after that, the great upswing of the Bitcoins began. Over time, a large number of developers have contributed to the Bitcoins' recipe for success.

Advantages of Bitcoin:

Bitcoins are very common today and are used by many people to make online payments. Since the introduction of the first 50 Bitcoins, the number of Cryptic Currency has increased immensely and now Bitcoins are used all over the world. This is no wonder, as the currency does indeed have some advantages:

  • There are no limits when you as a customer want to transfer money with Bitcoin.
  • Worldwide acceptance, be it in South Korea, Russia, Venezuela or Switzerland, everyone is already trading heavily in Bitcoin.
  • The Blockchain technology enables decentralization. This means that several users worldwide work on the transaction simultaneously. Thus, the system is not affected by local failures.
    Protected privacy
  • On the Bitcoin website and other sites on the net, you will find large communities that provide information on the use of the currency. This gives you the chance to talk to many other Bitcoin users if there are any questions about the Bitcoins or the payment process that you should be able to deal with on your own.
  • With your own paperwallet the money is protected from unauthorized access. In contrast, a bank could theoretically loot the bank account.

Disadvantages of Bitcoin:

It is remarkable that even on the German website of Bitcoin you can find a list of disadvantages. Here one can see that the Bitcoin Community sees itself indeed as still developable and attaches importance to represent everything transparently - it concerns them around information switching. Now we would like to present you with some more information about Bitcoin.

  • High transfer costs, especially for small amounts the fees can be higher than the transfer sum
  • Slow transaction, in extreme cases a transfer has already taken up to 2 days
  • Of course, you should be aware that your Bitcoins are no guarantee against losing money. Bitcoins can actually become worthless because they are a digital currency and no currency in the world is protected from falling in value or even becoming worthless. In the case of Bitcoins, this cannot happen through inflation, but there are reasons such as technical failure which can indeed cause Bitcoins to become worthless.
  • Cybercrime, money laundering and other nasty machinations of criminals. Thus in the social media much advertisement for Bitcoin commercial robots such as Cryptosoft or the like is made, with which horrendous profit sums are promised, which can naturally never be obtained.
  • Price fluctuations by investors
  • A further danger emanates from the established currencies, their guardians and state governments. They will certainly not watch their currencies lose value without a fight. But the value of all Bitcoins is still far too low to cause fears among banks or governments.
  • The acceptance of Bitcoins in many webshops is unfortunately still very much expandable, especially here in Germany.
  • In addition, there are no ATMs "offline", as is the case with our neighbors in Austria or Switzerland, where ATMs are already very common, so that everyone can quickly buy a few Bitcoins.
  • Many people react very dismissively to the topic Bitcoin, it reminds of the time like the Internet started or the first cell phones came on the market.
  • The anonymous background to the emergence as well as the hype at the end of 2017 and the subsequent loss of value deter many people.
    Rather a topic for younger people
  • Unfortunately, Bitcoins are not yet so widespread that one can claim to be able to make payments with Bitcoins anywhere on the net. So there is still work to be done in this area.
    Bitcoin is still in the initial phase and has extremely large potential. At times a Bitcoin was worth more than an ounce of gold!

Deposit and withdrawal at Bitcoin:

The acquisition of Bitcoins is quite simple, because for this there is a quantity of commercial sides in the net. There is no direct deposit for the Bitcoins, but there are different chances to get Bitcoin (and also other crypto currencies) Here we have put together four possibilities for you:

    1. Simply get Bitcoins through regular "claims" with faucets (we have put together a large selection, all free)
    2. In exchange for goods
    3. The direct and simplest way is the purchase of Bitcoins (e.g. with commercial stock exchanges such as Coinbase or Bitcoin.de), comes equal to the trade with gold and/or shares.
    4. Exchange Bitcoins against other crypto currencies, like Ethereum, Dash, Bitcoin Cash, IOTA or Ripple.

Before you think about buying Bitcoins, you need to know that a wallet is required for storage. Rather the address to a Wallet. You don't have to set up a wallet on your computer or laptop. It is sufficient to register with a trading place like Coinbase or Bitcoin.de. When you buy Bitcoin, you will automatically receive a wallet address (similar to an account at an online bank). If you later sell your Bitcoin on the same platform, you will receive the equivalent value in euros or dollars, if you wish.

Services where you can earn Bitcoin (Satoshis) for free:

Rating Name Country Earnings Currencies Type
of Service
Payment
Proof
Start
Cointiply USA High Bitcoin Dash Doge Litecoin Bitcoin Faucets, Paid Clicks 2017
Faucetpay USA Middle Bitcoin Bitcoin Cash Dash Doge Ethereum Litecoin Tron Zcash Bitcoin Faucets, Paid Clicks 2019
Freebitcoin Brazil Good Bitcoin Bitcoin Faucets 2013
Coinpayu USA High Bitcoin Dash Doge Ethereum Litecoin Tether Bitcoin Faucets, Paid Clicks, Paid Surfing 2017
adbtc Russia High Bitcoin Bitcoin Faucets, Paid Clicks, Paid Surfing 2016
Autofaucet Dutchycorp France Good Bitcoin Bitcoin Cash Dash Doge EOS Ethereum IOTA Litecoin Monero Ripple Stellar Tether Tron Zcash Bitcoin Faucets, Paid Clicks, Paid Surfing 2018
Firefaucet India Good Bitcoin Dash Doge Ethereum Litecoin Monero Tether Tron Zcash Bitcoin Faucets, Paid Clicks, Paid Surfing 2018
Grabtc Brazil Middle Bitcoin Bitcoin Faucets, Paid Clicks 2020
Ojooo Germany Good Bitcoin Ethereum Bitcoin Faucets, Paid Clicks 2010
neobux Portugal Good Bitcoin Bitcoin Cash Dash Litecoin Bitcoin Faucets, Paid Clicks 2008
BTCBux Russia Good Bitcoin Doge Litecoin Bitcoin Faucets, Paid Clicks 2020
Claimbits USA Middle Bitcoin Bitcoin Faucets, Paid Clicks 2019
Yannik Germany Good Bitcoin IOTA Bitcoin Faucets, Paid Clicks 2015
Koiniom USA Good Bitcoin Dash Doge Ethereum Bitcoin Faucets, Paid Clicks, Paid Surfing 2016
ESFaucet Canada Middle Bitcoin Bitcoin Cash Dash Doge Ethereum Litecoin Ripple Stellar Tron Zcash Bitcoin Faucets, Paid Clicks 2019
Faucetcrypto Panama Middle Bitcoin Bitcoin Cash Bitcoin SV Dash Doge Ethereum Litecoin Tron Zcash Bitcoin Faucets, Paid Clicks 2017
Satoshi Hero USA Low Bitcoin Bitcoin Faucets 2018
Satoshi Monster USA Low Bitcoin Bitcoin Faucets 2018
Coinsurfer Germany Low Bitcoin Paid Surfing 2020
Claimfreecoins USA Middle Bitcoin Bitcoin Cash Dash Doge Ethereum Litecoin Tether Tron Bitcoin Faucets 2017
Rushbitcoin USA Middle Bitcoin Bitcoin Faucets, Paid Clicks 2017
Allcoins USA Good Bitcoin Bitcoin Cash Dash Doge Ethereum Litecoin Monero Ripple Stellar Tron Bitcoin Faucets, Paid Clicks 2018
Claimclicks Iceland Middle Bitcoin Doge Litecoin Tron Bitcoin Faucets 2020
BitsFree Netherlands Middle Bitcoin Bitcoin Faucets, Paid Clicks 2019
Coinadster USA Middle Bitcoin Bitcoin Faucets, Paid Clicks 2019
Larvelfaucet USA Middle Bitcoin Doge Litecoin Bitcoin Faucets, Paid Clicks 2018
Bucksify Iceland Middle Bitcoin Dash Doge Ethereum Litecoin Tron Zcash Bitcoin Faucets 2019
Bitclix Turkey Low Bitcoin Bitcoin Faucets, Paid Clicks 2018
Multicoins Iceland Low Bitcoin Doge Litecoin Monero Tether Tron Bitcoin Faucets, Paid Clicks 2021
Big BTC Win USA Low Bitcoin Bitcoin Faucets 2017
Btcmaker Panama Low Bitcoin Bitcoin Faucets 2020
BTC-Clicks Brazil Very Low Bitcoin Paid Clicks 2013
Goldenfaucet Philippines Very Low Bitcoin Bitcoin Faucets, Paid Clicks 2018
Faucetspin USA Middle Bitcoin Bitcoin Cash Ethereum Litecoin Bitcoin Faucets, Paid Clicks 2020

Questions about Bitcoin

The FAQ section on Bitcoin is very large, as many people continue to find out about the topic day after day. Many questions are answered here and even disadvantages of the currency are not swept under the carpet. Here you have the chance to familiarize yourself intensively before you create a wallet and of course you will also find detailed explanations on how to carry out the transactions. Bitcoin also has its own very informative Wiki. Otherwise, you can of course access the various communities, where you can interact with other Bitcoin users and learn more about the system and its application.

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Conclusion on Bitcoin:

Bitcoin did not arrive still for a long time at the end of the development, completely on the contrary, we believe Bitcoin stands only still at the beginning. The course for Bitcoin is still intact despite the hype year 2018, even though there has been a major slippage. Unfortunately one reads constantly also of the fact that hackers penetrated into commercial platforms and could steal million values at crypto currencies, these messages lead naturally to uncertainties with potential prospective customers. Nevertheless, the number of transactions for Bitcoins continues to rise from month to month, new Bitcoin machines are set up every day and more and more services now offer the payment function in Bitcoin. It is the spearhead for all crypto currencies and the prime example of block chain technology. Just because of this enormous awareness and the fact that the markets cannot get enough of digital currencies, we see the future of this lead currency for crypto currencies very positively. In the short term it may still go downhill but in the medium to long term Bitcoin is unstoppable worldwide.

Here a few points again compactly summarized:

  • You have a large Community, into which you can also bring in yourself. Through your participation you can ensure that Bitcoin can continue to grow in the future.
  • Since Bitcoin is still a very young payment system, there is definitely room for improvement. For example, the acceptance of webshops or other sites on the Internet that accept Bitcoins in order to pay with them is not yet very widespread. For this reason one must often switch to other providers such as PayPal or Neteller.
  • Hardly any other e-payment offers you the chance to participate so intensively when it comes to designing the whole thing. You can get involved with Bitcoins as a translator or in the field of mining and make sure that your chosen provider makes rapid progress in the field of e-payment.
  • Bitcoins can indeed become an important payment tool on the Net in the future.
  • The support from the various communities is enormous and indeed very helpful if you have questions about your Bitcoins or the functions of the system.

More Crypto Currencies:

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Start: 2018 
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