Bitcoin (BTC) is a digital currency, which is used and distributed electronically.
Bitcoin is a decentralised peer-to-peer network. No single institution or person controls it.
Bitcoins can’t be printed and their amount is very limited – only 21 mln Bitcoins can ever be created.
How to get Bitcoin:
The simplest way of getting Bitcoins is to buy them. Bitcoins are available from various exchanges, but you can also buy them directly from other people via marketplaces. They can be paid for with cash, credit and debit card transfers or even with other cryptocurrencies. But first, you’ll need a Bitcoin wallet.
Cryptocurrency Exchanges:
Exchange Currency Payment methods
Coinbase USD, EUR, GBP Credit card, bank transfer
Bittrex 190+ crypto pairs Cryptocurrency
LocalBitcoins (P2P) All currencies Cash, PayPal, bank transfer
CEX.IO USD, EUR, GBP, RUB Credit card, bank transfer, Ethereum
Kraken USD, EUR, CAD, GBP, JPY Bank transfer, Altcoins
CoinMama EUR, USD Credit card, Ethereum
Bitfinex USD Bank transfer, Ethereum, Dash, Monero, Zcash
Poloniex 75+ crypto pairs Cryptocurrency
Bitstamp USD, EUR Credit card, bank transfer
Bisq (P2P) 59+ crypto pairs Cryptocurrency, bank transfer
GDAX USD, GBP, EUR Bank transfer, Ethereum, Litecoin
ShapeShift 40+ crypto pairs Cryptocurrency
There is a variety of options, but the main ones can be reduced to an online wallet and a software wallet on the hard drive of your computer. Neither option is completely safe, as a hard drive can become corrupted, while an online wallet might be prone to a hacker attack. There are also mobile wallets, which are very simplified due to an enormous storage capacity required to carry the entire Blockchain; dedicated devices called hardware wallets and paper wallets with two QR-codes that are not stored digitally anywhere, making them immune to standard cyber-attacks and hardware failures.
And, of course, there’s mining. Just a few years ago, anyone with a powerful enough computer could mine Bitcoins, but this is not the case anymore. The BTC’s ever-increasing popularity as well as its exchange rate caused big companies to step into the game armed to the teeth with mining-specific devices, hence why the difficulty and energy required to mine worthwhile amounts of Bitcoins has skyrocketed. What’s more, the amount of Bitcoins still to be mined decreases constantly and drastically. https://bitcoincryptoico.com
Transactions We define an electronic coin as a chain of digital signatures. Each owner transfers the coin to the next by digitally signing a hash of the previous transaction and the public key of the next owner and adding these to the end of the coin. A payee can verify the signatures to verify the chain of ownership. https://bitcoinblockchainico.com
