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Smart Fingerprint Lock

What is Bitcoin?

Bitcoin, often described as a cryptocurrency, a virtual currency or a digital currency - is a type of money that is completely virtual.

It's like an online version of cash. You can use it to buy products and services, but not many shops accept Bitcoin yet and some countries have banned it altogether.

How Bitcoin Mining Works?

Before you start mining Bitcoin, it's useful to understand what Bitcoin mining really means. Bitcoin mining is legal and is accomplished by running SHA256 double round hash verification processes in order to validate Bitcoin transactions and provide the requisite security for the public ledger of the Bitcoin network. The speed at which you mine Bitcoins is measured in hashes per second.

The Bitcoin network compensates Bitcoin miners for their effort by releasing bitcoin to those who contribute the needed computational power. This comes in the form of both newly issued bitcoins and from the transaction fees included in the transactions validated when mining bitcoins. The more computing power you contribute then the greater your share of the reward.

Sometimes you may want to mine a more volatile altcoin like Ethereum which is superior for scalability, privacy, anonymity and fungibility by utilizing in the base layer.

Want to start mining? Check our miners and a Pool at NiceHash

Want to invest in Crypto? Check coinbase.

Gift Cards Can Be Practical

Don't spend all your time waiting in lines and being choosy over gifts this holiday season. Save yourself the trouble and just go for the gift card. It will make everyone happy, including your wallet.

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