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Tego Cryptoman
@e375
25
Founder and CEO of MoneyPro Services.
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Location
Venezuela
Website
http://www.moneyproservices.com/
Created
2017-10-04 04:21
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e375
bitcoin
9y
!
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Some things you need to know
If you are about to explore Bitcoin, there are a few things you should know. Bitcoin lets you exchange money in a different way than with usual banks. As such, you should take time to inform yourself before
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e375
bitcoin
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Government taxes and regulations
Bitcoin is not an official currency. That said, most jurisdictions still require you to pay income, sales, payroll, and capital gains taxes on anything that has value, including bitcoins. It is your
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e375
bitcoin
9y
Bitcoin is still experimental
Bitcoin is an experimental new currency that is in active development. Each improvement makes Bitcoin more appealing but also reveals new challenges as Bitcoin adoption grows. During these growing pains
e375
bitcoin
9y
Unconfirmed transactions aren't secure
Transactions don't start out as irreversible. Instead, they get a confirmation score that indicates how hard it is to reverse them (see table). Each confirmation takes between a few seconds and 90 minutes,
e375
bitcoin
9y
Bitcoin is not anonymous
Some effort is required to protect your privacy with Bitcoin. All Bitcoin transactions are stored publicly and permanently on the network, which means anyone can see the balance and transactions of any
e375
bitcoin
9y
Bitcoin payments are irreversible
Any transaction issued with Bitcoin cannot be reversed, they can only be refunded by the person receiving the funds. That means you should take care to do business with people and organizations you know
e375
bitcoin
9y
Bitcoin price is volatile
The price of a bitcoin can unpredictably increase or decrease over a short period of time due to its young economy, novel nature, and sometimes illiquid markets. Consequently, keeping your savings with
e375
bitcoin
9y
Securing your wallet
Like in real life, your wallet must be secured. Bitcoin makes it possible to transfer value anywhere in a very easy way and it allows you to be in control of your money. Such great features also come with
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enthusiastic
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I'm Tego Cryptoman
My name is Ernesto Sanchez. Founder and CEO of MoneyPro Services. Essay, practice and error; experience. You only live once.
