There is a most common process of doing transaction that usually takes place between sender and receiver through online mode. Online transactions are quite safe and secured actually but there will also a kind of suspicious activities might even encounter. It is in the form of cyber hacking or third party or unauthorized person might get an access to your account transactions. It is widely happening till now due to several circumstances. All you need is maintaining privacy to your account. To eradicate such online hacking issues, there is an existence of crypto currencies involvement heals unusual attempts most probably. Of course the bitcoin price is volatile too.
Moreover there is a less chance of cyber crime take place while doing bit coin transactions. Actually taking this asset into consideration, now a day’s globally there is a high range of bitcoin price per day in the market got increasing.
Let’s know how the transaction process of bit coins from sender to receiver:
- Initially a sender sent the transactional amount to a receiver through a secured code as a privacy point of view. In the mean while, there is a bit coin address which contains around 26 to 35 alphanumeric characters. This address is known as an ID (identifier).
- Here the first and foremost thing the sender does is; his bit coin address which start from number one or three and this address specify sender address. Similarly the receiver does have his own bit coin address. Followed by, the payment of bit coin is transacted through these addresses only. Address creation is free of cost. This is what bit coin wallet account is created. Simultaneously payments of bit coins will be processed out from sender to receiver.
Storing these earned bit coins through wallets:
You could not find any kind of your credit or debit card number. There are special wallets which hold bit coins and store it safely. These are electronic wallets form and majorly people use different forms of wallets which store their earned bit coins.
This is how bit coins are treated as high security payment process.