Let’s start with first Question, What is Bitcoin? and Where to buy Bitcoins?:- Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like Rupees, dollars or Pounds – they are produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.There are a very less transaction fees and no need to give your real name.
Is it same as normal currencies?
No, it is not same as Other currencies like rupees, dollars or pounds. It’s the first example of a growing category of money known as cryptocurrency. You can buy Domains, Hosting services, pizza, Software even you can do online shopping.
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Bitcoins can be used to buy or sell anything anonymously. It helps to buy anything from anywhere in the world with transaction fees, Before bitcoins it was difficult to buy or sell products for a normal person they had to get bank account or Paypal which is not easy for all or in some countries paypal is not available so, Bitcoins make living souls live better and gave them a chance to earn more.
There is no paper work to open its account like banks you just open a free account on Blockchain.com (soon i will make a article on How to open Btc wallet or account). In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. Most of the people just buy bitcoins as an investment, hoping that they’ll go up in value and this is a good choice bcoz in March my friend had 100$ btc and now he has 200$+ mean he got double he got 100$ profit wow.
What are its characteristics?
1. It’s decentralized:- The bitcoin network isn’t controlled by one central authority.
Every machine that mines bitcoin and processes transactions makes up a part of the
network, and the machines work together.
2. It’s easy to set up:- You can set up a bitcoin address in seconds, no questions
asked, and with no fees payable.
3. It’s anonymous:- Users can hold multiple bitcoin addresses, and they aren’t linked
to names, addresses, or other personally identifying information.
5. Transaction fees are miniscule:- You have to pay around $10-$15 to bank if you
wanna do international transfer.Bitcoin doesn’t.
6. It’s fast:- You can send money within minutes as soon as the bitcoin network
processes the payment.
7. It’s non-rerundable:- Once you pay money to any address, there is no way to get
back or cancel it, unless the recipient returns them to you. They’re gone forever.
Where to Buy BTC or Bitcoins?
Actually, there are no. of sites from where you can buy bitcoins but i personally recommend you few trusted and legit sites. These are :-
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