Transactions involving Bitcoins are important to understand before you proceed to invest in them. Before jumping into anything new it is important that you understand every aspect of it so that you can come to a conclusion as to whether the step is apt for you or not. If you are thinking about investing in Bitcoins you first have to set up an online back account for the purpose and beware of the hackers when you do so because if your account gets hacked you stand to lose the Bitcoins which cannot be replenished and all your investment will go down the drain. learn more about Bitcoins currency
Once you have set up your own account you will have to acquire Bitcoins. This can be done via three mechanisms. The first one is to simply buy them on exchange. Another way is to accept them as payment for certain products or services and the most important is to mine them. Mining of Bitcoins is important to understand. You can mine your own Bitcoins if you understand it properly. Mining of Bitcoins refer to verification of the Bitcoins.
Many people buy certain products using Bitcoins. The seller has to verify the authenticity of the Bitcoins. To do this he needs a miner. A miner does not take one Bitcoin transaction at a time. Instead a number of such transactions are collected. All the transactions are locked up in a virtual box with a lock. A software is available that helps you in finding the key for that lock. Once the secret is out and the Bitcoin is verified the miner gets a reward of 25 Bitcoins. Many miners are on to the task and not many of them are successful. The software that makes it possible to verify the transactions are available for free and are very simple to use.