Bitcoin is known to possess decentralized characteristics thanks to a dedicated peer-to-peer network. The pioneering cryptocurrency was conceptualized in 2008 and eventually made its way to the public in 2009 by a developer under the pseudonymous name Satoshi Nakamoto.
Unlike fiat currencies that are employed in all countries, Bitcoin remains intangible in from since all transactions occur online through a secure and transparent network. In addition, it is not monitored nor regulated by a financial institution or regulatory bodies, steering it away from any form of manipulation.
However, what makes Bitcoin payments unique is that it leans on cryptography to encrypt all transactions performed on the network. This makes it possible to complete anonymous transactions, ensuring all parties unparalleled security, thus a good medium for various online activities such as iGaming, binary options trading, eCommerce, and more.
Buy Bitcoins
Knowing how to purchase your own bitcoins is essential for any activity that involves cryptocurrency payments. There is nothing to worry, though, since buying bitcoins is easy and straightforward, provided that you have a solid understanding of the basic steps.
#1
Make it a point to explore the different marketplaces. There is a spectrum of Bitcoin exchange platforms, operating online due to the growing demand for cryptocurrency payments. Online exchanges currently available hold features that cater for different markets, such as provisions for traders who want to buy and sell bitcoins while other trading platforms accommodate a selection of foreign currencies.
#2
Once finding the Bitcoin exchange that suits your needs best, signing up for an account is essentially the next step. In addition, funding real money into the account is needed to begin your purchase of bitcoins from fellow traders in the same exchange.
#3
Place an order and wait for the purchased bitcoins to be credited to your account. Keep in mind that the amount of bitcoins you want to acquire must always be specified when playing a buy order. Once a great deal is in sight, immediately send the funds and wait a few days before the bitcoins are transferred to your account since exchanges typically go through thorough processing steps before verifying the transactions.
#4
Everyone indulging in the world of Bitcoin should know that trading in online exchanges is not the only channel to obtain bitcoins. This process can now also be performed through numerous mediums like two-way Bitcoin ATM’s, face to face transactions, Bitcoin mining, faucets, and accepting Bitcoin as payment for products/services.