Bitcoin – What is it?
Bitcoin was the first decentralized digital currency; this was coins that you can use as payment for services and products over the web. It was actually back in 2009 when bitcoin was introduced. The inventor of such digital currency is Satoshi Nakamoto but this is in reality just an alias because until now, no one knows who he or she is.
The best thing about bitcoin transactions is that, it is directly made online. With that said, you don’t necessarily have to go through clearinghouse or bank to process the deal. The transaction fees are considerably lower and it can be used in virtually any country worldwide because of this. Another benefit of having bitcoin accounts is the fact that it can’t be frozen and the prerequisites for opening one do not exist, which is same for the limits. Almost every day, more and more merchants are beginning to accept bitcoins.
You can exchange to bitcoin whatever currency you have be it Euros, Dollars etc. Also, you can sell and make purchase of such in other currencies. For keeping your bitcoins, you will need to use wallet to properly store it. As a matter of fact, mobile device, computer, laptop or third party sites provide these wallets. It is as easy as sending an email to someone when you are sending bitcoins.
Another great reason for investing in bitcoin is that, it makes international payments hassle free and affordable plus, you can use it for making anonymous purchases online. The reason for this is that, bitcoins aren’t tied to any country and thus, they aren’t subjective to regulations. Small businesses love transacting with people who use bitcoins because there are no credit card fees involved. There are persons who are buying bitcoins primarily for investment purposes and expecting them to increase in value as it matures.
There are several ways that you can do to get bitcoins namely “Buy on an Exchange” and “Transfers”. Just keep on reading if you wish to know how each works.
Number 1. Buy on an exchange – when this method is used, it enables people to sell or buy bitcoins from websites that are otherwise known as bitcoin exchanges. They are doing this by making use of the country’s currency and other currency they like or have.
Number 2. Transfers – people may be able to send bitcoins to each other by using their computers, mobile phones or online platforms. Practically, it is similar to sending cash but in digital approach.
Considering these methods will surely help you out if you’re seeking ways to increase the amount of bitcoin you own.