A New Kind of Money
What Is Bitcoin
Bitcoin is a new type of money, an open-source digital currency that works very differently from traditional money; Bitcoin created in January 2009. It follows the ideas set out in a whitepaper by the mysterious and pseudonymous Satoshi Nakamoto, who originally described the need for"an electronic payment system based on cryptographic proof instead of trust. "Bitcoin is a decentralized digital currency that you can buy, sell, and exchange directly without an intermediary like banks offers lower transaction fees than traditional online payment methods.
How Does Bitcoin Work
Bitcoin value follows the law of supply and demand -
and because demand increase and decreases, there's a
lot of volatility in the cryptocurrency's price.
To understand how the cryptocurrency works, it helps to understand these terms and a little context:
Blockchain - open-source code that power the Bitcoin, the blockchain creates a shared public ledger. Each bitcoin transaction is recorded in a public log; it's organized through a network known as a blockchain, an online ledger that keeps a secure permanent record of each transaction.
Private and public keys - A bitcoin wallet contains a public key and a private key. Both needed to allow the owner to initiate and sign transactions digitally, providing proof of authorization.
How to Buy Bitcoin
Most people buy Bitcoin via exchanges, such
asEVblock,Exchanges that allow you to buy, sell and hold
cryptocurrency; after an easy identification process and
providing some kind of funding source, you would be able
to purchase your own bitcoin.
Regardless of where you buy your Bitcoin, you'll need a digital wallet in which to store it.
There are two kinds of wallets:
A hot wallet - also known as an online wallet, is stored by an exchange or a provider in the cloud, including Exodus, Electrum, and Mycelium
Cold wallet - also known as a mobile wallet that can store your digital assets offline, include Trezor and Ledger.
You can use your Bitcoin just like regular money.
Transactions are received and sent directly between
one wallet and another , for personal or business
yout bitcoin will be incrypted by a private key ,this key prevents thieves from stealing any bitcoins sent to your address. Each Bitcoin address has a private digital key to access it. the wellets designed to keep track of all your addresses so that you don't have to write them down in a list somewhere.
New to cryptocurrency?No problem. Digital assets might seem confusing, but we're here to help.
Accepted by Businesses
There are a growing number of services and merchants accepting Bitcoin all over the world There are growing number of companies across a verios of industries who are embracing cryptocurrencies, allowing customers to use them as an official method of payment for their services and goods
Microsoft, one of the largest software companies in the world is accepts Bitcoin payments
Starbucks, customers can now use the new Bakkt app to pay for drinks and goods at the coffee chain with converted Bitcoin
Tesla accept Bitcoin payments for vehicle purchases in the US and their numbers keep growing by day
Bitcoin can be a stock you can trade - Whether you've bought, received, or earned Bitcoin, you can choose to exchange it for both traditional (FIAT) currencies and also for other digital currencies. One of the easiest and fastest ways to do this is through a cryptocurrency exchange. Create an account and, after verifying your identity, you'll be able to buy and sell your Bitcoin.