Bitcoin – What is it?
Bitcoin was the very first decentralize digital currency; as a matter of fact, these were coins that people could use as payments for services and products over the internet. Bitcoin was introduced in the public was way back in 2009. 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.
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. There are many other benefits for opening bitcoin accounts and one among which is that, it can’t be frozen plus, there is no prerequisites for opening one. Almost every day, more and more merchants are beginning to accept bitcoins.
It is feasible to exchange Euros, Dollars or whatever currencies you have to bitcoin. You can even sell and buy using other currencies. For you to keep the bitcoins, you should store it in what they call as wallet. These wallets are found in your mobile device, computer, laptop or even in third party sites. When sending bitcoins, it is quite easy actually like when sending emails to someone.
Bitcoins could be used anonymously for buying any item over the web plus the fact that making international payments are cheap and extremely easy. Bitcoins are not tied to any country which is the main reason for this, allowing this currency not to be subjective to any regulations. In the transaction using bitcoins, there’s actually no credit card fees involved which is why many small businesses love using such. There are others who see bitcoins as another form of investment and thus, they buy it and expect it to increase in value.
There are a handful of ways that are used for obtaining bitcoins and these include “Buy on an Exchange” and “Transfers”. You are going to learn how each method works as you keep on reading.
Number 1. Buy on an exchange – people are allowed to either sell or buy bitcoins from websites which are also known as bitcoin exchanges when using this method. They do this as they’re using the country’s currency and other currency they want.
Number 2. Transfers – using computers, mobile phones or online platforms lets people to send bitcoins to each. It’s practically similar form of sending money but in digital way.
Considering these methods will surely help you out if you’re seeking ways to increase the amount of bitcoin you own.