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Learning Bitcoin

Learning Bitcoin

By : Caetano
3 (3)
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Learning Bitcoin

Learning Bitcoin

3 (3)
By: Caetano

Overview of this book

The financial crisis of 2008 raised attention to the need for transparency and accountability in the financial world. As banks and governments were scrambling to stay solvent while seeking a sustainable plan, a powerfully new and resilient technology emerged. Bitcoin, built on a fundamentally new technology called “The Blockchain,” offered the promise of a new financial system where transactions are sent directly between two parties without the need for central control. Bitcoin exists as an open and transparent financial system without banks, governments, or corporate support. Simply put, Bitcoin is “programmable money” that has the potential to change the world on the same scale as the Internet itself. This book arms you with immense knowledge of Bitcoin and helps you implement the technology in your money matters, enabling secure transactions. We first walk through the fundamentals of Bitcoin, illustrate how the technology works, and exemplify how to interact with this powerful and new financial technology. You will learn how to set up your online Bitcoin wallet, indulge in buying and selling of bitcoins, and manage their storage. We then get to grips with the most powerful algorithm of all times: the Blockchain, and learn how crypto-currencies can reduce the risk of fraud for e-commerce merchants and consumers. With a solid base of Blockchain, you will write and execute your own custom transactions. Most importantly, you will be able to protect and secure your Bitcoin with the help of effective solutions provided in the book. Packed with plenty of screenshots, Learning Bitcoin is a simple and painless guide to working with Bitcoin.
Table of Contents (10 chapters)
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9
Index

Trading Bitcoins on an exchange

Aside from the risks involved, trading Bitcoin can be rewarding. For our introduction into trading Bitcoins, we will setup an account with Coinbase Exchange. Coinbase is a Bitcoin wallet service. They offer the option to buy and sell bitcoin from your wallet similar to Circle. In addition, they offer a full service platform for trading Bitcoin in real time.

Coinbase, founded in 2012, is funded by top-tier investors, including the New York Stock Exchange. They have a license to operate as a money transmitter in more than 15 states in the United States. Users who are living in the US and Europe can fund their accounts with US dollars or Euros.

Setting up an account

To start trading on Coinbase Exchange, you will need to sign up with Coinbase for the wallet and verify your account. From your account you will be able to link your bank account to transfer funds. Similar to Circle's requirements, Coinbase will prompt you for a valid identification as well as...

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