Bitcoin ( cryptocurrency) is an innovative payment method that allows users to complete financial transactions without revealing their identity or sensitive data.
It’s a form of digital currency that is created and held electronically. It can be used to buy things electronically and is decentralized, so no single institution controls the network.
As a form of digital currency, using Bitcoin offers faster transactions with anonymity and reduced costs. What makes Bitcoin quite popular is that bitcoins are faster and cheaper than other global transfer platforms. It allows fast peer-to-peer transactions and has low processing fees. Bitcoin can be stored offline and securely and it can be easily converted to other currencies. It can also be used for making global payments.
The price of Bitcoin varies based on supply and demand and once production is capped once the target of 21 million is reached, there will be a limited supply, driving prices up.
As the demand for Bitcoin continues to rise, there have been improvements in providing ways for people to access the cryptocurrency.
What are the easiest ways to buy Bitcoins?
There are a number of options
- Get yourself a Bitcoin wallet.
- You can buy Bitcoinsfrom exchanges or directly from other people using marketplaces.
- You can pay with a credit or debit card or even cash.
- You can buy Bitcoin using your VISA or MasterCard. You can then use a Bitcoin exchange service to facilitate the process. Exchanges and wallets are the best option if you want to engage in regular trading.
How it works
You generally need to fill in your details and submit your ID for additional verification.
Pay the amount by using your credit card.
Enter your own Bitcoin address.
Once you’ve purchased your Bitcoins, make sure that you move them into your Bitcoin wallet immediately.
Keep in mind that buying Bitcoin with credit cards usually comes with higher fees, due to higher processing fees.
