What is Bitcoin?

What is Bitcoin?

Bitcoin is a digital currency created in 2009 by Satoshi Nakamoto, the name used by the unknown person or persons who designed it Transactions are made with no middlemen – meaning, no banks! There are no transaction fees and no need to give your real name.

Why Bitcoins?

Bitcoins can be used to buy merchandise anonymously. 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. Some people just buy bitcoins as an investment, hoping that they’ll go up in value.

Owning Bitcoins

Bitcoins are stored in a “digital wallet,” which exists either in the cloud or on a user’s computer. The wallet is a kind of virtual bank account that allows users to send or receive bitcoins, pay for goods, or save their money. Unlike bank accounts, bitcoin wallets are not insured by any government or individuals.

How Can I Get Bitcoin

Buy on an Exchange, Several marketplaces called “bitcoin exchanges” allow people to buy or sell bitcoins using different currencies. you can buy Bitcoin in Coinbase, Bitcoin Wallet, and Blockchain Wallet.