GENERAL INFORMATION ABOUT BITCOIN

What is a Bitcoin?

BITCOIN is a consensus network that enables a new payment system and completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. 

BITCOIN is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.

How to start earning with Bitcoins?

First, you will need to have a Bitcoin Wallet Address in order that all of your hard earned bitcoins/satoshis will be sent and stored in your Bitcoin wallet. Create a Bitcoin wallet address at Coins.ph using the following link: Coins.ph Registration Link

Upon registration, you will be subjected to some verification like Email, Valid ID, Address, Phone and Selfie ID Verification. Also you will have the option to connect your Coins.ph account to your social network sites. Don't worry, you will be rewarded with Bitcoins in compliance with these verification and social network sites connections. Complete all of these requirements and once verified, you are ready to go.

NOTE: You will have your own unique referral link and use this link upon inviting people to join just like what I did to you. Once you have invited someone, signed up using your link and get their ID verified, you both will get 50php as a reward.

What is a Satoshi? A Satoshi is the smallest fraction of a Bitcoin. 0.00000001 BTC, that is a hundredth of a millionth BTC. In the future, however, the protocol may be updated to allow further subdivisions, should they be needed.

Who created Bitcoins?

A software developer called Satoshi Nakamoto proposed Bitcoin which was an electronic payment system based on mathematical proof. The idea was to produce a currency independent of any central authority, transferable electronically, more or less instantly, with very low transaction fees.

To know more about Bitcoins, you may watch this video presentation: What is a Bitcoin?

Bitcoin Denominations
1BTC = 100,000,000 satoshis
1BTC = 1000mBTC
1mBTC (millibitcoin) = 100,000 satoshis
1 μBTC (microbitcoin) = 100 satoshis 

Satoshi Denominations
1 Satoshi = 0.00000001 ฿
10 Satoshi = 0.00000010 ฿
100 Satoshi = 0.00000100 ฿ = 1 μBTC
1,000 Satoshi = 0.00001000 ฿
10,000 Satoshi = 0.00010000 ฿
100,000 Satoshi = 0.00100000 ฿ = 1 mBTC
1,000,000 Satoshi = 0.01000000 ฿
10,000,000 Satoshi = 0.10000000 ฿
100,000,000 Satoshi = 1.00000000 ฿ = 1BTC

How to cash-out in Coins.ph:
STEP 1: Log in to your coins.ph account.
STEP 2: In your account Menu, click "Cash Out"
STEP 3: You will then see 3 procedures of COINS.PH.

    How much would you like to cash out?
    Where should we send the money?
    Recipient details

STEP 4: Provide all these information and then click "Cash Out"

Here are the different Cash-out Methods: 

Copyright © 2017 by Jennifer Eloisa C. Pepito
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