Cryptocurrencies have become a popular thing, and Bitcoin is the ruling currency. Most people know of it now, and many are interested in buying the digital asset. You might have heard impressive stories about people who invested early, or maybe about the guy who used 10,000 bitcoins to buy two pizzas a long time ago. Whatever your reasons to purchase are, it is smart to know how you do it, and the possibilities for using it.
Using Bitcoin
Since cryptos like bitcoin are becoming increasingly popular, there are also more places where you can use them. This is often online, for example when shopping. You can also use bitcoin when you are gambling at online casinos, or on sports betting sites. Many prefer this as you then can be more anonymous, and you can separate the gambling hobby from the rest of your economy.
Some online games even let you win cryptocurrencies, which can be highly profitable. Then you can earn currencies that can be taken out and used in the real world, and not just the game’s own made-up currency. Before you start gaming or gambling with crypto, you should look up BonusBitcoin.co’s guide on how to play casino with crypto to learn more.
What is Bitcoin?
Cryptocurrencies are not a new thing, and you have most likely heard about them before. However, not everyone knows exactly what it is, and how it differs from fiat currency. First, cryptocurrencies are digital and decentralized. This means that they can only be found and bought online and that they are not regulated by a national bank or a financial institute. Therefore, many experiences that the value of different cryptocurrencies fluctuates greatly, as there is nothing that controls or stabilizes it.
There are thousands of cryptocurrencies out there, but Bitcoin is the most popular and the most valuable. It was created by the pseudonym Satoshi Nakamoto in 2008 and has since taken the world by storm. Now one single bitcoin is worth $29.561,50!
Finding a crypto exchange
To purchase crypto like bitcoin, you first need to find a crypto exchange to do it at. Since cryptocurrencies are decentralized, they are not to be found at the fiat currency exchange, and they can also not be stored together with the rest of the money in your bank account. Many great crypto exchanges also give out articles and information to learn how to buy bitcoin and other crypto investments.
If you would like to buy bitcoin here, the first step is to create your account and choose a payment method. When all this is settled, you can search for the crypto in the search bar. Then Bitcoin will come up, and you can insert how many you want to buy. You do this by typing in the
amount of fiat currency you wish to use. The crypto you purchase is stored in a crypto wallet, either belonging to the crypto exchange or separate as hardware.
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