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. Actually, it was in 2009 when bitcoin was introduced to the public. The inventor of this digital currency was still unknown so people gave it an alias in the name of Satoshi Nakamoto.
Bitcoin transactions are directly made from individuals over the web. You don’t have to deal with clearinghouse or bank to serve as middleperson on the deal. And for this reason, the fees for transaction are a lot lower and may be used in various countries globally. The fact that it is impossible to be frozen is another known benefit of having bitcoin accounts, furthermore, there is no prerequisites for opening an account which is the same for its limits. This is the same reason why there are many other merchants that are embracing bitcoins as part of their payment system.
Whether you are using Euros, Dollars or any currencies you have, it is possible to exchange it with bitcoin. You may sell and buy using any other currencies. For you to keep the bitcoins, you should store it in what they call as wallet. As a matter of fact, mobile device, computer, laptop or third party sites provide these wallets. Sending bitcoins is relatively simple just like when sending email to someone.
You can use your bitcoins to make anonymous purchases over the internet and at the same time, it makes international payments to be cheap and easy. Due to the reason that bitcoins aren’t tied to any specific countries, they are not subject to whatever regulations unlike real currencies. Small businesses love transacting with people who use bitcoins because there are no credit card fees involved. There are people as well who primarily use bitcoins for the purpose of investment and expect them to increase in value as time pass by.
“Buy on an Exchange” and “Transfers” methods are actually 2 of the very popular and common ways of acquiring bitcoins. You are going to learn how each method works as you keep on reading.
Number 1. Buy on an exchange – here in this method, people are permitted to sell or buy bitcoins from websites referred to as bitcoin exchanges. Regardless of the currency they are using, they can do buy and sell bitcoins.
Number 2. Transfers – people can send bitcoins to each using their computers, mobile phones or online platforms. It is almost the same as sending money but everything’s done online.
Say that you do are looking for ways to acquire bitcoins, then better study how these methods work.