Bitcoin was started as a private entity about eight years ago. It is now known that it is not regulated by any central monetary authority in the world like the other currencies do. Instead, it has its own regulatory mechanism that involves peer-to-peer network of its users’ computers.
For the Bitcoin currency, the Bitcoin at bitcoinsafes.com is the basic unit and is subdivided into satoshis which are in turn equivalent to one hundred millionth of a bitcoin.
Bitcoins and satoshis at bitcoinsafes.com can be transferred from one internet user to the next supposing he or she is buying a certain good or service at no extra charges. This has allowed many people from across the world to make international transfers without having to worry about exchange rates and extra bank charges.
For any Bitcoin user out there, he or she must have a Bitcoin safe which is an application that allows these users to store, send and receive bitcoins. Some of the Bitcoins safes that are available currently are the software safes, mobile safes, and internet Bitcoin safes.
Software safes are set up on your computer to provide you with complete control over your Bitcoin safe. Mobile Bitcoin safes, on the other hand, can be installed on your smartphone to make the Bitcoins easily accessible when shopping in the supermarkets. The web Bitcoins Safes on the other hand usually store Bitcoins on the cloud servers. For more facts and information about Bitcoin Safes, go to http://bitcoin.wikia.com/wiki/Bitcoin_Wiki.
It is nowadays very easy to pay for goods and services using Bitcoins, and you just have to input the recipient’s address on your computer or smartphone, the amount and then press send. As for smartphones, you can scan the QR code so as to obtain the recipient’s address.
Guarding Your Bitcoin Safes
One might compare Bitcoins Safes to wallets filled with cash. To decrease the probability of loss, you need to keep only tiny quantities of Bitcoins on your pc or smartphone and keep the bulk of your own Bitcoins in a safer environment, such as an offline safe. Provided your wallet was encrypted, then an offline back-up will permit you to recover your safe, should you misplace your smartphone or PC.
Encrypting your Bitcoin Safes allows you to set a password that must be input before funds can be withdrawn. It’s critical to note that recovering a Bitcoin safe password once its lost is very difficult and is why it is essential to use a password that you can easily remember.
In order to be as secure as you can, you should store off-line back-ups in many locations using a variety of media like USB flash drives and CDs.
Because Bitcoin runs on software you download to your computer (PC or laptop) or smartphone, you have to update this software frequently so as to keep your Bitcoin transactions and safes secure.