To those who are strangers to the world of Bitcoins, it may seem too technical and intimidating. However, this document presents easy to understand information for beginners who want to know more about the cryptocurrency and are interested to start their Bitcoin journey.

1. Bitcoins Decoded
BitPlutos.com

2. Introduction to Bitcoin
Bitcoin may seem intimidating for those who hear the name for the first time. With the
terms “mining” and “block chain”, plus the potential risks that go with this young form
of digital currency, it is not a rare occasion that it is perceived as something
uninteresting. Virtual currency is not rocket science; it is something that potential users
can learn by themselves with moderate research. The information is available; all it
takes is a “Bit” of time. Fortunately, you do not have to look any further, every key point
required for you to start learning the technology is right here.
Brand history
Conceptualized in 2007 and introduced in early 2009 by Satoshi Nakamoto, Bitcoin is the
first cryptocurrency made available to the public, so it pioneered the technology.
Nakamoto, whose real identity remains anonymous, conspired with other developers
until 2010 before he passed it on to current lead software developer Gavin Andersen.
What is Bitcoin?
Think of Bitcoin as intangible cash processed through mediums such as mobile phones
and computers, where all transactions take place. It has the spending properties that
cash has and it holds value. Moreover, it is seen as an investment vehicle for majority of
the users.
How does Bitcoin work?
Bitcoin operates on a decentralized system using peer-to-peer transactions. Picture it as
sharing of information and resources without being controlled by anyone or anything. It
is far from traditional systems such as banks, or numerous forex trading platforms.
Every part constructing the entirety of the system processes all transactions and
supports each other.
These transactions are run through ledgers that record them, called the block chain.
These blocks then carry the information of the transactions made, linking them from
one block to the other. Information within this system is transparent, therefore anyone
can view the transactions made from the beginning.

3. Furthermore, bitcoin is a payment system ran by algorithms. Physically, they do not
exist. But don’t shut your doors on bitcoins yet.
Acquiring bitcoins
There are few ways to acquire Bitcoins. First is to purchase using cash or bank deposits
through different Bitcoin markets namely LocalBitcoins, Coinbase, igot, and Xapo.
LocalBitcoins can provide a digital wallet which allows storage of Bitcoins. LocalBitcoins
will provide a list of Bitcoin traders that are available within the user’s region where the
Bitcoins can be purchased. Second is accepting Bitcoins as payment. Bitcoin is a fast
growing form of currency and numerous establishments and services do accept Bitcoins
in exchange.
Another method to obtain Bitcoins is through Mining. This may well be the most
intimidating part of the cryptocurrency as it opens up another aspect of Bitcoin which
involves an immense deal of mathematics. Producing Bitcoins from scratch can be
mentally demanding, which requires intricate software for problem solving the block
provides. Proof of work is what makes mining difficult and controlled. This is a method
of verification done by other Bitcoin nodes.
This isn’t necessary for beginners; it’s an option for those who wish to delve deeper into
world of Bitcoin. Bitcoins are rewarded to users, known as miners, who take part in the
processing and verification of the transactions that run through the ledgers (block
chain). This is a unique incentive system that Bitcoin offers to attract additional miners.
More miners produce more blocks, and more blocks result to fewer factors affecting the
system. Aside from making bitcoin, mining also serves as security for the block chain to
stay intact.
Furthermore, other platforms like trading Bitcoin forex, binary options, and online
gambling, prove to be sufficient options not only for acquiring bitcoins, but also
multiplying the cryptocurrency.
Advantages of Bitcoin
As administration and structure of Bitcoin is decentralized, the network is not
administered by a head who implements the rules. The keyword being central, Bitcoin
is, it is not solely controlled by governing bodies. Decentralization may seem disorderly,
but in depth, that alone puts Bitcoin at an advantage.

4. Every user can participate with the improvement of the system. Fit ideas will not be
disregarded by the head. Each participant serves as a tool for making Bitcoin currency
effective than it already is.
Moreover, user Anonymity is another benefit that Bitcoin users can take advantage of.
Yes, the transactions are available for public viewing, but personal information is not,
unless the user prefers to share it. Centralized banks work differently; they maintain a
principal server where the database of client information is kept and can be accessed if
need be. This benefits users who desire to secure online purchases and activities. There
are individuals who choose to retain sensitive information away from surrounding
online threats, and Bitcoin can easily provide that.
Lives nowadays are fast moving, literally. People are on the go, and they continue to
look for ways to innovate for efficiency’s sake. This is exhibited through a number of
trading vehicles Bitcoin was integrated into, namely Bitcoin foreign exchange, and
binary options. Dominant brands such as BitPlutos, Satoshi Option, and Beast Options
prove the value of virtual currency in modern times.
Time, as we all know, is valuable. With Bitcoin’s low fees, mobility and fast setup,
quicker and cheaper transactions is possible as Bitcoin processes payments faster than
traditional payment systems. With just a few clicks, users can complete transfers and
payments in the comfort of their homes.
Bitcoin utilizing Industries and acceptance
Bitcoin is a relatively young system, in fact, just less than 7 years of existence in the
public, and it already made an immense impact. It takes effort for a cryptocurrency
brand to expand this fast, and Bitcoin is the best at it. No other digital currency in its
league has topped Bitcoin.
In 2015, Bitcoin accepting merchants have reached over 100,000. Popular IT
corporations Microsoft and Dell, enabled the acceptance Bitcoins as payment for a
number of their applications and products. Entertainment industries like Zynga, known
for their games such as Farmville and Zynga Poker also accept Bitcoin payments. Clearly,
a vast amount of IT and digital content can be purchased with Bitcoin.
These are just some of the numerous advantages Bitcoin has over other currencies. As
Bitcoin continues to move forward, its promising progression, the community growing

5. further and fast integration of the digital currency as the world is adopting the
technology; clearly Bitcoin is here to stay.
Now that you are informed of the essential know about of the currency, the next step is
to apply all of this information to commence your own Bitcoin journey.

6. References / Sources:
BitPlutos: http://www.bitplutos.com/
BitPlutos – FAQ: http://www.bitplutos.com/faq-page/
BitPlutos – Forex: http://www.bitplutos.com/forex/
BitPlutos – What is Bitcoin: http://www.bitplutos.com/what-is-bitcoin/
BitPlutos – Why Use Bitcoin: http://www.bitplutos.com/why-use-bitcoin/