There are many kinds of earn bitcoin wallets but the one that holds most importance is related to who is in charge of the private keys that is required for spending the Bitcoins. Usually Bitcoins can be thought of as banks because they are kind of holding the customer’s private keys on their behalf. However, most wallets don’t stop the user from being in charge of their own private keys stating that no one in this world can access your account if they don’t have your permission. But the downside to this is that no one can help you out if you forget your password or lose the access to your individual private key. Therefore if a person decides to own a lot of Bitcoin, its best that he/she divides them among different wallets.
Bitcoin’s Value:
Bitcoin’s price entirely depends upon the factors of demand and supply. For example: if the supply is limited to 22 Bitcoins, with the increase in demand of the Bitcoin related to its fixed supply, it will force the price to increase. Since the number of people that use Bitcoin is not as big, the price of bitcoins in terms of the country’s currency can fluctuate every day, but will start to increase as more people are inclined towards using it. One year, the value of Bitcoin might be less than one dollar but after 3 years its value might become worth hundreds of dollars.
Is Bitcoin anonymous?
Bitcoin cannot be considered as completely anonymous as Bitcoin transactions are uploaded on a public ledger which is termed as a blockchain and people will learn the identity of the person making the transaction over time. Some multinational companies offer tools like Bitcoin mixers with the help of which people can achieve greater levels of privacy but the process is still considered very complicated. If one wants to stay out of that mess, they should simply abide by the laws of the state.
