Bitcoin is a digital currency created in 2009 by Satoshi Nakamoto. The currency is contrary to common currencies decentralized, virtual and not affiliated with any central money issuer.
Bitcoins is created and distributed randomly to the users of the system using essential computational resources which is called Mining. The amount of new bitcoins generated decreases with time.
Monetary System consists of a p2p mode, which bear out the exchange of money between two parties. Transactions are exclusively based on the exchange of digital signatures and otherwise completely anonymous.
The system therefore does not have traditional banking built into it. All money transactions take place only between two parties, by sharing their digital signatures.
Head over to 'We Use Coins' to find out even more!.
If you still not understand what I am saying refer to my previous Review of Bitcoin -
What is a Bitcoin Address?
This is very similar to your a home address. When our ancestors needs to receive money(traditional currency), they take receiver's home address to send money by money orders which takes two-five days to proceed. Yes, Bitcoin address is similar to it but Bitcoin address is your digital address by which you can send or receive money with your Computer or Mobile with the help of Bitcoin Wallet. Bitcoin Wallets are that things which contains all your Bitcoins and all your Bitcoin Addresses. Persons having a Bitcoin Wallet can have more than one Bitcoin Addresses.
Bitcoin Wallet and its different types?
Which one is best?
In my previous post I have mentioned just one way of getting a Bitcoin address. That was to get Bitcoin-Qt application on your desktop. This is a Desktop Wallets. But now I am telling you about both Desktop and Web based Bitcoin Wallets.
Most of people reports that getting a web based Bitcoin is safer than getting a desktop bitcoin wallet. If you ask me which is best I also suggest you that Web Based wallets are best because Bitcoin users who uses desktop wallet may experiences losing their bitcoins due to accidentally deletion of Wallet.dat file in the system drive of O.S. or O.S. reinstallation which can damage all your assets that your have earned( I already expressed you that Bitcoin wallet stores all your bitcoins and all your bitcoin addresses whether they are Desktop Based or Web Based).
Desktop Wallets stores Wallet.dat file in system drive for example if you are using Bitcoin-Qt application then it uses this location to store Wallet.dat file - C:\Users\"yourusernamehere"\AppData\Roaming\Bitcoin.
On the other side, web wallets takes cares of offsite secure backups so, you don't have to worry about losing Bitcoins.
Getting a Bitcoin Address.
Following Websites, Organisations and Companies offers free Desktop based and Web based Bitcoin wallet (Please note that I am not forcing you to use any of below bitcoin wallet. This is your choice whether you choose them or not. I will be not responsible for any case of damage).
Desktop Based Wallet:-
(i) Armory
(ii) Multi-Bit
(iii) Bitcoin-Qt
(iv) Bitcoin Wallet(Only for Mobile Users)
(v) Bitcoin Wallet For Testnet(Only for mobile users)
Web Based Wallets:-
(i) StrongCoin
(ii) BlockChain
(iii) Coinbase
(iv) BIPS
(v) Easywallet
(vi) Walletbit
(vi) Electrum
(vii) Paytunia
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