Assets, Bitcoin

Can I Buy Bitcoin With My Bank Account Number?

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.

NOTE: WARNING: Using your bank account number to purchase Bitcoin is not recommended. The transaction could be exposed to fraud or other security risks, as there is no way to guarantee that your account information won’t be stolen or misused. Additionally, it is impossible to reverse a Bitcoin transaction, so if you make a mistake you will not be able to get your money back. We suggest using more secure methods such as credit or debit cards or cryptocurrency exchange services.

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

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

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