Assets, Bitcoin

Can I Buy and Sell Bitcoin Same Day?

Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.

Bitcoin is unique in that there are a finite number of them: 21 million.

Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.

NOTE: Buying and selling Bitcoin on the same day carries a high risk of financial losses. If you choose to do this, you should be aware that the market can be extremely volatile, and prices may rapidly change in either direction. It is important to research the market carefully before making any transactions and to understand the risks associated with short-term trading. Additionally, you should use secure wallets for storing your coins, as well as take steps to protect your identity.

As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.

The IRS says bitcoins are property, not currency, and are subject to capital gains tax.

You can buy and sell Bitcoin on exchanges such as Coinbase, Kraken, Bitstamp, and Gemini. You can also use Bitcoin ATMs to buy Bitcoin with cash.

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