Crypto Currency, Digital Currency, Bitcoin, Altcoin… What???

In a recent poll, 65% of people surveyed had never even heard of Bitcoin, of those that were familiar with it 80% had never used it… so what is it?

In a nutshell, Bitcoin is a digital currency or crypto currency, “crypto” because digital currencies are based on “block chains” or distributed databases that contain encrypted information about all the transactions for that coin. There is no central issuing body or bank.

“Altcoins” are coins besides Bitcoin that are based on the same technology.

Here are 3 really good introduction articles to get you started understanding and using Bitcoin and Altcoins.

How to Safely Buy Bitcoin and AltCoin Crypto Currency

Will 2015 Be the Year of Bitcoin and Altcoin?

Crypto Currency – What is it?

Also checkout the Digital Currency Alliance for more info about Bitcoin and Altcoins.

Here’s a quick video from the Zietcoin developers, an altcoin, which gives a really good, quick overview of it and shows how a “digital wallet” is used to send money.

Learn about digital currency – it’s better being ahead of the curve for a change!