Assets, Bitcoin

How Can I Buy Bitcoin?

Bitcoin is a cryptocurrency and a payment system, first proposed by an anonymous person or group of people under the name Satoshi Nakamoto in 2008.

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.

NOTE: WARNING: Purchasing Bitcoin can be an extremely risky venture. Before purchasing Bitcoin, you should do your research and understand the risks associated with it. You should also be aware that there are multiple ways to purchase Bitcoin, from official exchanges to peer-to-peer websites. Be sure to read the fine print and understand the terms of service for any service you choose, as well as any fees associated with them. Additionally, never share your personal information or financial details with anyone when purchasing Bitcoin.

Bitcoin is pseudonymous, meaning that funds are not tied to real-world entities but rather bitcoin addresses. Owners of bitcoin addresses are not explicitly identified, but all transactions on the blockchain are public.

In addition, transactions can be linked to individuals and companies through “idioms of use” (e.g., transactions that spend coins from multiple inputs indicate that the inputs may have a common owner) and corroborating public transaction data with known information on owners of certain addresses.

Plus, there are also sites like Bitquick and Paxful, which connect buyers and sellers for in-person trades. Local Bitcoins is probably the best known site where this happens.

The site allows you to find people in your community who are willing to trade Bitcoin for cash, usually via bank deposit or PayPal.

Previous ArticleNext Article