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BTCExchange Philippines

Posted on June 19, 2016 | No Comments on BTCExchange Philippines

BTCExchange is a company that was founded in June 2014 and has been recognized as the first, full pledged Bitcoin exchange in the Philippines. The company’s infrastructure provider and partner, BTC Trader is also the company which provides the same setup for the first and the top Bitcoin exchanges in Turkey and Greece.

All of the BTCExchange account are protected with exceptional security practices similar with the international standards.

What is Bitcoin?
Bitcoin is a completely digital currency and an advanced network of payment. The system is known to be peer-to-peer, and users can perform transactions directly without the need of an agent. Transactions are recorded on a ledger provided and settlement system. This system is identified as the Blockchain. The entity of account transported on the Bitcoin network is also called bitcoin or btc.

Who owns and controls Bitcoin?
There is no single unit that owns or controls Bitcoin, just like there is no one who owns the email technology. There are no known or recognized official representatives or franchises of Bitcoin. Bitcoin is not a company and it is also not an organization, but it is an open system and anyone can participate without restrictions.

Who sets the price of Bitcoin?
Bitcoin’s price is identified on different independent exchanges by means of the relationship between demand and supply. Bitcoin exchanges balance the buyers and sellers. The trade transactions that happen between the users of the exchanges are issued as price and market information by the exhanges. Various Bitcoin exchanges are not linked to each other or to a central exchange. The Bitcoin’s price is separately identified on each Bitcoin exchange.

Should I invest in Bitcoin?
The prices of Bitcoin are usually more unstable compared to the common investment vehicles. This instability brings as much risk to investing in Bitcoin as it provides opportunities. Therefore, it is highly recommended for the users to be extra cautious upon investing in Bitcoin.

Is Bitcoin Safe?
The fundamental technology of Bitcoin is open source, and it has been analyzed but a number of individuals coming from different parts of the world, whose expertise are in the field of security and cryptography. There have been some occasions reported in the past relating to security that are linked with the fundamental technology of Bitcoin, however, these incidents have been fixed quickly. Nevertheless, it is essential to keep in mind that Bitcoin is a technology that is still enhanced and improved.

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