Everything You Ever Wanted To Ask About Bitcoin

Picture Credit

Bitcoin has been very big news recently. It’s taken up some serious column inches in newspapers and magazines over the past few months as it has recently seen its value go through the roof. Even so this cryptocurrency is extremely valuable right now, there are still very few people who actually understand the ins and outs of it. Wish you were a bit more clued up on all things Bitcoin? Here are the answers to some of your burning questions.

When Was Bitcoin Created?

Bitcoin is relatively new in the grand scheme of things. In fact, it was only thought up about ten years ago back in 2008. Back then, a developer created a proof that included the foundations that could be used to programme the currency. Even though this initial develop left the project in 2010, other developers were able to pick up where they had left off, and they were able to bring the cryptocurrency into existence.

Where Can I Get Some Bitcoin?

These days, because the value has recently risen significantly, you might struggle to afford some Bitcoin. However, if you have plenty of cash in the bank, then you have a few options to get some for yourself. First of all, you could simply go to a Bitcoin ATM. They give you the chance to exchange Bitcoin for cash or another cryptocurrency. Alternatively, you could go to cryptocurrency exchange. There are a few different ones around. If you already know someone who uses one, you could benefit from the Coinbase sign up bonus scheme. Once you are on an exchange, you can swap regular coins for Bitcoin. Another relatively easy way to get some Bitcoin is to simply sell something to someone else in exchange for Bitcoin.

How Can I Spend My Bitcoin?

So, once you have your hands on some cryptocurrency, you are probably going to want to sell it. There are now lots of merchants and selling platforms that will accept various cryptocurrencies in exchange for goods and services. But first, you need to have a Bitcoin wallet. Your wallet is basically a digital tool that allows you to store your Bitcoin safely and securely. It also allows you to transfer your coins to merchants in purchases. There are different wallets to choose from, so make sure you get one that works for you. For instance, some can be linked to your mobile so you can make mobile payments in store while others will only allow online payments to be made on a computer.

Can I Invest In Bitcoin?

If you don’t want to spend your Bitcoin, then you could simply store them in your wallet as an investment. However, you should be warned that the value of Bitcoin fluctuates wildly and it isn’t viewed as a very safe investment. Sure, the value has recently risen by quite a bit, but it could also fall at any given moment too.

Hopefully, this has increased your knowledge of Bitcoin and cryptocurrencies. Good luck if you fancy investing!

Leave a Reply

Your email address will not be published. Required fields are marked *

CommentLuv badge