Bitcoin is a digital currency that can be used to buy and sell goods, as well as services. It’s also a great way to make international payments since it allows you to send money instantly over the internet.
What is Bitcoin?
Bitcoin is a digital currency that has no physical form or intrinsic value. It was created in 2009 by an anonymous person or group under the name Satoshi Nakamoto. The currency has no centralized control, and its value is determined by supply and demand.
The easiest way to think of Bitcoin is as a virtual currency—something that only exists online. But unlike regular currencies (like the dollar), it does not have any physical coins or bills associated with it. Instead, there are just records of transactions between different people who own Bitcoin accounts. These transactions are stored on a public ledger called a blockchain, which keeps track of all the exchanges and ensures that no one tries to spend the same Bitcoin twice.
Bitcoin can be used like other traditional currencies: you can buy things with it, pay for services with it, or even invest in businesses that accept payments in bitcoins instead of dollars or euros. However, unlike traditional currencies, Bitcoin is not issued by any government or central bank; instead, it’s created through a process called “mining” where computers solve complex mathematical equations over time until they discover a new block containing new Bitcoins (which happens roughly every 10 minutes).
Benefits of Bitcoin
Bitcoin has many benefits over traditional currencies, including:
1) Bitcoin transactions are irreversible and cannot be cancelled or reversed. Traditional payment methods like credit cards often require both parties to agree to reverse transactions if necessary.
2) Bitcoin transactions are secure and anonymous. Your personal information is kept private when you use Bitcoin, which is why it’s popular for online purchases and trading with strangers online.
3) Bitcoin transactions are fast! You can send money from one country to another in just minutes without having to wait for checks or bank transfers that take days or even weeks to clear (or get lost in transit).
How to Buy Bitcoin
Buying Bitcoin is simple, but there are a few things you should know before you get started.
Here’s how to buy Bitcoin:
1. Get a bitcoin wallet
This is the first thing you need to do before buying any bitcoins. A bitcoin wallet is where you store your digital currency, so it’s extremely important that you have one that fits your needs. There are plenty of different types of wallets—software, hardware, paper and more—each with its own unique benefits and drawbacks.
2. Find an exchange that accepts your payment method of choice
There are several ways to buy bitcoins: through a bitcoin exchange or via a broker; by depositing cash at a bitcoin ATM or by accepting bitcoins as payment for goods or services (this includes the use of bitcoin as a form of payment on online platforms). Your best bet is to look for an exchange that supports your payment method of choice and has high liquidity (meaning they have lots of people trading on their platform).
3. Fund your account with some cash then buy some bitcoins!
Once you’ve found a suitable exchange, open an account with them and deposit some funds into it (usually this will be done via bank transfer). This can take anywhere from 10 minutes to half an hour.
Where to Buy Bitcoin
If you’re looking to buy bitcoin, there are a number of different brokers and exchanges that offer the service. Each broker or exchange has its own pros and cons, and we’ve broken them down below.
Coinbase is one of the most popular cryptocurrency exchanges in the world, as well as one of the most beginner-friendly. Coinbase offers many different payment options for those looking to purchase their first bitcoin, including bank transfers and credit card payments.
How to Store Bitcoin
The first step in buying and using bitcoin is to get a bitcoin wallet. This is where you will store your bitcoins. It is also a place where you can send, receive and store your private keys that are needed for accessing your Bitcoin.
There are several types of wallets: software, mobile and desktop. The most popular are desktop wallets because they are easier to use and more secure than mobile wallets. Desktop wallets can be downloaded from the website of the coin’s developer or from third-party websites. They are compatible with Windows, Mac OSX and Linux operating systems.
Most desktop wallets require you to download the entire blockchain which can take days or weeks depending on how fast your internet connection is. If you have an older computer or a slower internet connection, you may want to consider other options such as mobile wallets instead of a desktop wallet.
Using Bitcoin to Pay for Your Order
We are happy to accept Bitcoin as a method of payment. To use Bitcoin, you will need a Bitcoin wallet and some cryptocurrency.
Once you have chosen a wallet, go to the “Checkout” tab on our website and choose “Pay with Bitcoin” from the list of payment options. You’ll be prompted to enter either scan the QR code or send the Bitcoin amount to our wallet address. Once the transaction is completed you will receive an email confirming your order.