25 Best Bitcoin Questions and Answers (Q&A) - ProProfs Discuss

What does mining mean (in cryptocurrency terminology)?

K. Keturah
Answered: Oct 21, 2019

Mining is an important term in cryptocurrency. It can be called in so many ways. It is known as cryptocurrency mining, crypto-coin mining, or crypto mining. These names are actually referring to...Read More

3 Answers

562 views

What is the safest bitcoin wallet to use?

Lizamatthewindia
Answered: Feb 20, 2020

There is a number of Bitcoin wallet available in the market. You can choose the one as per your needs, Although cold wallets or hardware wallets considered much secure, the problem is you can't...Read More

3 Answers

412 views

Why does the price of bitcoin fluctuate?

P. Halah
Answered: Oct 15, 2019

A lot of things can be attributed to this. First of all, bitcoin, just like other digital currencies, was created in a decentralized way such that it is not controlled by the entity. This means...Read More

2 Answers

372 views

What is Bitcoin?

M. Klose, Content Writer
Answered: Sep 13, 2018

A Bitcoin is a type of digital currency which started out as a simple currency. Over the past years, more and more people have started investing in Bitcoin. One Bitcoin now will be enough to help...Read More

5 Answers

363 views

Why do we need bitcoin?

P. Halah
Answered: Oct 15, 2019

We need bitcoin because it comes with a lot of benefits. And that is why people are actually investing and making use of the payment system. The fact that bitcoin is a decentralized payment...Read More

2 Answers

350 views

Should I start investing in bitcoin if I don't have any prior experience in trading?

K. Keturah
Answered: Oct 21, 2019

It will be a risky thing to do by investing in something you have little knowledge about, and not to talk of when you seem not to have any knowledge about it. Investing in bitcoin when you don't...Read More

3 Answers

340 views

What makes bitcoin different and more appealing than other cryptocurrencies?

K. Keturah
Answered: Oct 21, 2019

Since the creation of bitcoin in 2009, a lot of cryptocurrencies that look very similar to bitcoin have also sprung up. Although they are designed to operate in a way that looks very similar to...Read More

2 Answers

330 views

What are some emerging alternatives to bitcoin?

P. Halah
Answered: Oct 15, 2019

Bitcoin is not just the best as far as a digital currency is concerned; it is also a great payment system. There are other cryptocurrencies that are still functioning just because they are using...Read More

2 Answers

307 views

Which is a better option to invest in, bitcoin or litecoin (and why)?

H. George, Copywriter
Answered: Feb 26, 2018

For many years it has been common practice when investing in the stock market to invest in a diversified portfolio. The same can now be said for cryptocurrencies such as bitcoin, litecoin and...Read More

2 Answers

301 views

What is a smart contract (and why do I need to know about it)?

K. Keturah
Answered: Oct 21, 2019

A smart contract refers to a form of business agreement between two or more parties by using a piece of computer code to produce a technology known as the blockchain. Blockchain stores data on a...Read More

2 Answers

280 views

Is bitcoin just another ponzi scheme?

K. Keturah
Answered: Oct 21, 2019

Bitcoin is not a Ponzi scheme as most people believe it to be. Most of the time, when I check through the internet, I see different kinds of misinformation linking bitcoin and other...Read More

2 Answers

280 views

Is it too early to cash out on my bitcoins (why)?

K. Keturah
Answered: Oct 21, 2019

One thing I've come to understand over the years is that there is no single thing that does not come with risk. And things become riskier as you go into the business world. Investing in bitcoin...Read More

2 Answers

266 views

How to earn bitcoins in USA?

Cesar H. Pablo, Journalist
Answered: May 10, 2018

There are numerous Bitcoin enthusiasts who trust that digital currency is the future and putting resources into it today can procure colossal returns later. The most well known method for owning...Read More

1 Answer

262 views

What can I buy using bitcoins?

P. Halah
Answered: Oct 15, 2019

There are a lot of services and goods that can be bought using bitcoins. Since the emergence of bitcoin as one of the alternative ways of making payment in the market, a lot of companies have...Read More

2 Answers

261 views

Is Bitcoin legal in US?

D. Gray
Answered: May 10, 2018

The U.S. Treasury classified bitcoin as a convertible decentralized virtual currency in 2013. The Commodity Futures Trading Commission, CFTC, classified bitcoin as a commodity in September 2015....Read More

1 Answer

259 views

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