Simple Security Precautions Help Keep Bitcoin Savings Safe

encrypted-bitcoin-walletAlthough the underlying technology is fairly complex and sophisticated, getting started with Bitcoin is easier than many would suppose. There are a variety of options for storing and safeguarding the virtual currency, many of which have been tuned for the usage patterns and needs of even less-technical users.

For many, a locally stored wallet makes the most sense. These computer programs create and secure a simple file that contains secret keys that grant access to an account, with each key being able to be used to send or receive payments as users wish. Those who go this route are in full control of what happens to their currency, but this kind of power does come with a certain amount of responsibility.

First off, users must make sure that the keys that underlie their wallets of this sort are never lost. Many users find that it makes sense to make copies of these digital assets and store these elsewhere, as on USB drives or the like that can be kept in bank safe deposit boxes or other secured storage. Having a second copy of a given key will ensure that users will be able to access their accounts no matter what happens to the first, a precaution that could have saved many people from heartbreaking loss in the past. Continue reading

What is All the Rage About Bitcoin Mining?

8-cores-fpga-bitcoin-minerBitcoin is system that offers a virtual way of getting digital funds. The fundamentals of this system include an encrypted chain that allow the money to be tracked and transferred. Bitcoin is operated on a specialized peer system. In order to take full advantage of what Bitcoin has to offer, you need to know one of the primary forms of making money: mining.

What Is MiningMining in the Bitcoin world is similar to real-life mining. Essentially, you run verification systems to secure transactions in the network. You are measured in hashes of speed when you mine.

Your mining success is based on rewards. You are compensated for your mining efforts, by which coins are released to those using computing power. The more power you have, the more rewards you will have, thus granting immense mining success. Continue reading

Online Casino Now Accepting Bitcoins

bitcoinOnline gamers understand why Vera John is such a popular casino site. They are always at the forefront of the industry providing the best jackpots, the hottest games and a site that is easy to maneuver and glitch-free.

They are continuing to live up to their reputation as leaders in the online gaming world with their recent announcement regarding their decision to begin accepting bitcoins. For anyone who has not heard of bitcoins, this virtual-only form of currency has taken the world by storm since its inception just a few short years ago. Anyone, in any country can obtain on online bitcoin wallet and purchase coins for instant use. Continue reading