Buying and selling bitcoin has never been as simple or as common as it is today. As its benefits are increasingly recognized, and its acceptance widens, bitcoin is increasingly accessible regardless of a user’s tech savvy or geographical location. After learning a little bit about it, everyone can come to enjoy the obvious benefits of bitcoin, the natural progression in the evolution of mankind’s currency. Like the Internet itself, bitcoin is a technology that may seem baffling or inaccessible because it is new, but with time, will become the norm. As a technology, it is here to stay.
What is Bitcoin
Bitcoin, the first cryptocurrency, is much like cash and gold, but far more secure and can be exchanged as easily as the sending of an email. Transactions with traditional forms of currencies require the involvement of third parties such as central banking systems, brick-and-mortar bank buildings, governments, and other outdated encumbrances, which always increase time lag and tack on wasteful fees. Bitcoin is independent and person-to-person, and therefore cannot be controlled or manipulated by a single state, individual, or institution.
Therefore, it is global, speedy, and cheap. Bitcoin is public, since it requires the use of a ledger, but it is also incredibly private in that personal identification is not required. The ultimate quantity, when all bitcoin is fully mined, cannot be reduced or increased, and unlike with banks and governments, more money cannot be printed, thereby devaluating the currency already in circulation. Thus, bitcoin is also immune to inflation. Unlike hard cash though, bitcoin is based upon mathematics and is cryptography, which is far more secure and therefore superior to traditional currencies.
How to Buy Bitcoin
There are three different methods to get started with obtaining bitcoin. The first is to simply buy it on a marketplace. Not all marketplaces are safe and reliable, and many exist online. Therefore, a bit of research through reputable sources is necessary first. A second way of obtaining bitcoin is by simply accepting it as payment for goods or services rendered, as one would traditional currency. Finally, bitcoin can be obtained by mining bitcoin, which is both the most complex option and potentially the most rewarding. Bitcoin is the natural progression of currency and will be as ubiquitous as the Internet itself in little time. Therefore, it is essential to begin using it, obtaining it, buying and selling bitcoin, and mining bitcoin now.