As the world’s first and most well-known cryptocurrency, Bitcoin has taken the financial world by storm. With a market cap of over $100 billion, Bitcoin is here to stay. But what exactly is Bitcoin, and how can you get your hands on some?
Bitcoin is a decentralized digital currency, meaning it is not subject to government or financial institution control. Bitcoin is created and held electronically on a decentralized network of computers.
Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain.
Bitcoins are not printed like traditional currency, but are instead mined by individuals using computer power to solve complex math problems. This process is called mining, and anyone can do it – all you need is a computer and the right software.
Miners are rewarded with bitcoins for their efforts, which they can then hold, spend, or trade just like any other currency.
So how can you get your hands on some bitcoins? The easiest way is to simply buy them on an exchange like Coinbase or RockItCoin. You can also earn them through mining, or by providing goods or services in exchange for bitcoins.
No matter how you acquire them, bitcoins can be used to purchase goods and services just like any other currency. So what are you waiting for? Start spending those bitcoins!.