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What is Litecoin?
March 12, 2018

Today we answer the question: What is Litecoin? A brief overview of creation, function and trajectory.

Visit our offices to learn more about Litecoin, and make cryptocurrency purchases over the counter:

#5 1145 Kensington Crescent, Calgary Canada

1525 West Broadway, Vancouver Canada

To find full listings/locations of all our cryptocurrency ATMs, please visit our website: www.bitnational.com

 

Transcript:

Hey everyone I'm Ben with BitNational and today we answer the question what is Litecoin? Litecoin was created in 2011 by founder Charlie Lee, former employee at Google. The aim of Litecoin was to improve on a few of Bitcoin’s properties.

 

Litecoin transactions are settled every 2.5 minutes versus Bitcoin’s 10 minutes. Effectively this means that transactions settle four times faster. It also means that the total number of coins ever issued on Litecoin will be four times as many: 84 million vs Bitcoin’s 21 million.

 

Coins are still issued through a process called mining. This is where people volunteer their computing power in order to check and verify transactions and are then rewarded with newly minted coins. However, changes have been made to how Litecoin is mined to help prevent centralization and large market players from creating monopolies This means that specialized computers called Asics to be used in Litecoin mining.

 

Despite these differences Liteoin is still very technologically similar to Bitcoin. So much so that a lot of Bitcoin developers really enjoy rolling out advancements on Litecoin first to test them in the real world before seeing them enabled on Bitcoin.

 

Litecoin continues to be viewed as the silver to Bitcoin’s gold and is the only other cryptocurrency of its age to have carved out a spot in the top ten and remained there since inception.


Thank you guys so much for watching. If you'd like to see more content like this, please hit subscribe and remember to turn on notifications. Also visit our website www.bitnational.com for all your cryptocurrency needs.     

What Is Bitcoin?
March 9, 2018

Today we answer the question: What is Bitcoin? A brief overview of creation, function and trajectory.

Visit our offices to learn more about Bitcoin, and make cryptocurrency purchases over the counter:

#5 1145 Kensington Crescent, Calgary Canada

1525 West Broadway, Vancouver Canada

To find full listings/locations of all our cryptocurrency ATMs, please visit our website: www.bitnational.com

 

TRANSCRIPT:

Hey everyone i'm Ben with Bitnational and today we're here to answer the question: What is bitcoin? Bitcoin was the world's first decentralized digital currency. It was created in 2009 by an

anonymous individual or group of people going by the name Satoshi Nakamoto. Bitcoin is not governed by any single entity, but rather through a process called consensus. Consensus means that in order to change any of the underlying rules of Bitcoin you would need the vast majority of people using the protocol to agree.

 

One of those underlying rules is that bitcoin will only ever issue 21 million coins. Those coins are issued in a tapered fashion. What this means is that in 2009 when Bitcoin started, roughly every 10 minutes 50 new bitcoin were created. That number continues to be cut in half every four years. Currently 12.5 bitcoins are issued roughly every 10 minutes. That number will continue to be cut in half every 4 years until around the year 2140 when there are no new coins to be issued.

 

So who gets the newly minted Bitcoin? While those coins are issued to people called Bitcoin miners. A miner is someone who volunteers their computing power to help check and verify transactions on the network. Now anyone can be a Bitcoin miner, however, over time things have become very specialized. In fact currently we now see warehouses absolutely full of very specialized computers just for Bitcoin mining.

 

Bitcoin continues to be the most well recognized asset in the space and many refer to it as the gold standard of cryptocurrency.


Thank you guys so much for watching. For more content like this please hit subscribe and be sure to notifications. You can also visit our website www.bitnational.com for all your cryptocurrency needs.   

How To Withdraw Cash at our Bitnational Bitcoin ATM
July 12, 2017

Confused about selling Bitcoin for cash? Check out our tutorial on how use our ATM in a few easy steps! We highly recommend downloading and setting up the Copay Bitcoin wallet on your smart phone, as it is featured in all our ATM videos. 

How to buy Bitcoin at our BitNational ATM
July 12, 2017

Confused about buying Bitcoin? Check out our tutorial on how use our ATM in a few easy steps! We highly recommend downloading and setting up the Copay Bitcoin wallet on your smart phone, as it is featured in all our ATM videos. 

How To Print A New Paper Wallet
July 12, 2017

Confused about your new printed wallet? Check out our tutorial on how use our ATM to print a new wallet and retreive your Bitcoin in a few easy steps! We highly recommend downloading and setting up the Copay Bitcoin wallet on your smart phone, as it is featured in all our ATM videos.     

BitNational Has Become A Featured Operator With CoinATMRadar
July 9, 2016

BitNational is pleased to announce a partnership with CoinATMRadar, making it easier than ever to find a convinient location to Buy and Sell Bitcoin.  

   

Welcome to BitNational! Just getting started?
September 22, 2015

Welcome to BitNational, Canada's most trusted network of bitcoin BTMs. We have convenient BTM locations across western Canada and are adding more, so keep checking back on this website's handy location page to find a BTM near you.

Are you just getting started using bitcoin? Welcome! It's an easy to use online currency that's secure and growing. Find out more on our FAQ page or select a bitcoin wallet from our suggested vendors to get started.

Once you have a bitcoin wallet, you can start buying and selling bitcoin online or at one of our locations. 

We're glad you're here and hope that you decide to give bitcoin a try. If you're already a seasoned bitcoin user, find out more about what BitNational has to offer to make it even simpler to use the world's most popular cryptocurrency.