2.1 Bitcoin Blockchain: Wallets, buying and selling bitcoins

Transaction Management

Transaction Management

________: transferring the coins from one address to another.

Mobile wallets

________ run as apps storing your private keys to pay directly from your phone.

ATMs

There are ________ that send Bitcoins to your wallet in exchange for cash.

Travel

________: Pay for hotel bookings online using Bitcoins.

Common household items

________: There are millions of products you can buy using Bitcoins.

Currency generation

________: regulating the monetary value.

passphrase

The computer creates a(n) ________ that the user commits to memory.

Bitcoin

________ was the first digital currency that facilitated the instant transfer of value across the world.

Hardware wallets

________ are used to store private keys on storage devices such as USB drives.

Exchanges

________ are used to buy and sell Bitcoins on your behalf Buying with cash:

number of Bitcoins

The ________ generated per block decreases by 50 every 210 000 blocks.

Bitcoin supply

________ is limited for the currency to have value.

Online wallets

________ are convenient because you can access your funds from any device.

Transaction Management

transferring the coins from one address to another

Currency generation

regulating the monetary value

Common household items

There are millions of products you can buy using Bitcoins

Gift cards

You can buy gift cards online using Bitcoins

Video games

Companies have started offering games and other apps in Bitcoins

Food

You can buy food with Bitcoins now

Travel

Pay for hotel bookings online using Bitcoins

Transaction Management

transferring the coins from one address to another

What is Bitcoin

Bitcoin was the first digital currency that facilitated the instant transfer of value across the world.

Bitcoin Controlled Supply

Bitcoin supply is limited for the currency to have value. The rate of block creation is adjusted every 2016 block. The number of Bitcoins generated per block decreases by 50 every 210 000 blocks.

Bitcoins wallets

____________ are digital wallets where private keys are used to access the Bitcoin address and signature for transactions.

Software wallets

______________ are installed on your computer to store your private keys.

Online wallets

_________________ are convenient because you can access your funds from any device.

Hardware wallets

________________ are used to store private keys on storage devices such as USB drives. The computer creates a passphrase that the user commits to memory.

Mobile wallets

______________ run as apps storing your private keys to pay directly from your phone.