bit coin technology- how to create your first bit coin wallet?

Let me inform you that bit coin is a comparatively a new type of currency that has just started to strike the main stream markets. Most critics state that using bit coins and bit coin technology is unsafe because they have no authentic value. Irrespective of these facts still all the major market players talk about bit coins.

In this article I will cite some good reasons why it is worth using this crypto currency. For the starter when payments are made using banks the transaction takes some days and similarly wire transfers also take a long time. On the other hand, in case of virtual currency like bit coin transactions are generally more rapid.

In reality zero confirmation transactions are instantaneous and here the merchant accepts the risk which is still not approved by bit coin

Again credit and debit card transactions are instant but one is charged a fee for using this privilege.

 However in the case of bit coin and in some cases it is free. Trust me, no one can take it away since bit coin are de centralized in nature and this is why no central authority can take away percentage from your deposit.

Let me remind you that once you trade bit coins they are gone. You cannot reclaim bit coins without the recipients consent. Thus, it becomes really difficult to commit the charge back fraud which is often experienced by people with and if they find it defective they can contact the credit card agency to make a charge back and thus effectively reversing the transaction.

The credit card does it and charges you with a really costly charge but a bit coin transaction does not need any personal details. All you need is to combine your private key and the bit coin key together to do a transaction. Now you just have to ensure that your private key is not accessed by strangers.

I am sure you are aware of the fact that Federal Reserve prints more dollars whenever the economy is sputtering. Government injects the newly created money into the economy causing a decrease in currency value thereby triggering inflation. In reality inflation decreases peoples power to buy things because prices of goods increase.

These days bit coins are in limited supply and the system was designed to quit mining more bit coins on reaching 21 million.  Now this means that inflation will not be an issue however deflation will be triggered where prices of goods will fall.

 Let me inform you that bit coin is relatively private but transparent. The bit coin address is revealed at the block chain and everyone can look in your wallet but your name will be currencies experiencing capital controls and high inflation.

These days many binary trading and FOREX brokers are allowing to trade with bit coins since bit coin and bit coin technology is the pioneer of new crypto currency era. This technology gives us experiencing capital controls and high inflation. Now if you want some more information to make smart trading decisions then please visit here.