Bitcoin, invented in 2008, is a cryptocurrency that allows people to send or receive money over the internet. The origin of Bitcoin is ambiguous. It is believed that a person, or a group of people, with the identity of Satoshi Nakamoto had conceptualised an electronic cash system that would permit payments to be sent directly across the internet from one party to another without going through a financial institution. Here we also let you know where to buy bitcoin.
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How can you get Bitcoins?
There are three major ways in which you can acquire Bitcoins:
- Buy Bitcoins: You can buy Bitcoins using ‘real’ currency like Rupee, USDollars, Renminbi, etc. There are several online marketplaces known as “bitcoin exchanges” where you can trade bitcoin using different currencies.
- Receive Bitcoins: You can also receive Bitcoins as modes of payment for goods you purchase and the services you avail of.
- Bitcoin Mining: Bitcoins can be generated by the process of Bitcoin Mining where you use your computer to perform mathematical calculations for the Bitcoin network to validate transactions.
How and where to buy Bitcoins?
Using the Bitcoin.com Wallet
- Open the Bitcoin.com wallet app on your device.
- Press the green ‘Buy’ button to buy Bitcoin Cash (BCH)
- Just follow the instructions on the screen to deposit coins to your preferred wallet
- You will be asked to verify your identity
- Once done, you can proceed to purchase. Your first purchase may be slower as it involves identification and verification. However, your future purchases shall be much faster.
Through a cryptocurrency exchange
- Just visit the cryptocurrency exchange.
- Create your account and validate your identity.
- Follow the on-screen instructions to buy your Bitcoin Cash (BCH) or Bitcoin (BTC).
- You will be able to find your coins in the exchange’s wallet connected to your exchange account.
- Lastly, move your Bitcoin to your personal wallet to keep it more secure.
How to sell your Bitcoins?
- Visit a cryptocurrency exchange like Bitcoin.com Exchange.
- Create an account and validate your identity.
- Follow the on-screen instructions to sell your Bitcoin Cash (BCH) or Bitcoin (BTC).
- If you have sold it for fiat currency, you can cash out the funds directly into your bank account otherwise you can send the coins to your personal wallet.
Where can you check the price of Bitcoin?
- bitcoinwisdom.io – For a truly old school way to check prices across popular exchanges, and view corresponding charts, bitcoinwisdom.io is a solid choice. The classic site affords users the opportunity to check prices in terms of their preferred trading pairs.
- bitinfocharts.com – It presents price, volume, transaction value, fees, block time, block size, difficulty, hash rate, mining profitability, and even wealth distribution of Bitcoin.
- coinmarketcap.com – This website is renowned for its comprehensive historical data section, which allows analysis of cryptocurrency data for the past five years. It’s also available as a mobile application.
- markets.bitcoin.com – It is a handy resource to get a clean check of prices crypto assets that are doing best in the last 24 hours duration.
- messari.io – Much more than just a place to check prices, Messari specializes in research, news, and analysis, and like bitinfocharts.com, This website provides a huge collection of metrics as well as advanced options for analysis and professional research. Some of the features available only via paid subscription, but the free library is also extensive.
Will bitcoin be relevant in the future?
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