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Bitcoin- Vinokilo’s new family member

Posted by Vino Kilo on

Happy almost holidays, Vinopeople! Before the team goes on a well-deserved winter break, we want to play Santa again and bring you some good news. Because we love innovation and because we want to support initiative that make the future a better place, Vinokilo became a friend of Bitcoin, meaning that from now on, you can purchase any vintage treasure from our online shop using Bitcoins.


But what exactly is Bitcoin? It is a digital form of currency that it is obviously not printed and that it is not controlled by any bank. It is actually produced by people that use a specific software that solves mathematical problems. The main difference between bitcoin and regular currencies is that you can use it solely to buy things in the virtual world, but, at the same time, like conventional dollars, euros or yen, it can be traded digitally. 


The Bitcoin was created by Satoshi Nakamoto, a software developer that wanted to produce a currency that doesn't depend on any central authority, that is electronically transferable almost instantly and with very low transactions fees. As you might have guessed so far, the main characteristics of Bitcoin are as follows:


It's decentralized- independent of any central authority.

It's easy to set up- free and fast (we are talking about seconds).

It's anonymous- storing bitcoins does not make use of your name, so nobody really knows how many bitcoins you own. Although, all bitcoin transaction details are stored in a general ledger called blockchain.

Minimum transaction fees- a regular bank may charge 10 pounds for an international transfer.

It's fast-you can send money everywhere ant it will arrive in minutes. However, once the money is sent, there's no way you can get it back, unless the receiver returns them to you. 


Now that we assured that no matter how far in the future the world is, our vintage lovers will still be able to purchase their favorite items, it is time to wish you all good luck with your last-minute Christmas shopping.


Happiest holidays, everyone!


The Vinokilo team


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