Topic: Something newbie should know about Bitcoin (Read 566 times)

Good to get some positive energy from China.

Thnx for ur informative post. As i m new to bitcoins it is all necessary to start with all information of it good or bad. It is always good nd necessary to be well informed

If you are going to buy Bitcoin ,you should know about something .You can use other ways to exchange funds.So you should love Bitcoin as your physical wallet .
Protect your wallet
Like the real life ,you must protect your wallet .Using Bitcoin can transfer funds easily on the global .But the function may bring some safe problem .Meanwhile ,Bitcoin can provide good safety if you use it correctly .Remember ,you are responsible for protect your property .
Bitcoin changeable price
With jejune economical structure ,newly uniqueness ,Bitcoin price changes fast in a short time .So don’t use Bitcoin as your saving .You should view Bitcoin as high-risk asset .If you receive Bitcoin payment ,you can exchange it into local currency . `

Bitcoin trade is irreversible
All Bitcoin trade cant be cancelled .So you need to trade with people who enjoy high trust .Bitcoin system can check out typing mistakes ,so you may not transfer your money to an ineffectual address .It may provide more choices and service for customers .

Bitcoin is not anonymous
You should spend a little more time to protect your privacy .All Bitcoin trade are open and will be saved on the Internet forever ,so everybody can look over the tradeing record .However ,Along with revealing your identifiable information when buying Bitcoin ,your truthful identification is confidential .So remember forever ,protect your privacy is your responsibility .

Immediate trade lacks safety
Bitcoin trade is usually given off and confirm within 10 minutes .During the time ,a trade can be cancelled .Some dishonest users may try to cheat ,If you cant wait receiving confirmation ,you can demand other to pay little trading fee or use an unsafe trading detectable system to increase safety .
Bitcoin is still experiential
Bitcoin is still an experiential currency .So nobody can predict its future .
The policy
Bitcoin is not an official currency .That is to say ,more areas demand you to pay tax .


Remaks: Due to language difference, sometimes people out of China can’t know what happened in China quickly. so we are here to make effort to change little, we will translate 3-4 bitcoin news in China to English everyday to help people out of China know what happened and what people thinks about bitcoin in China, If somewhere translate not that good, pls PM us so that we can  correct it.