For those who are unfamiliar, cryptocurrencies are a form of digital or virtual currency that uses cryptography to secure its transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control. Bitcoin, the first and most well-known cryptocurrency, was created in 2009.
Cryptocurrencies have gained in popularity in recent years as their value has increased. As of June 2017, the total value of all cryptocurrencies in circulation was over $80 billion. While this is a relatively small amount compared to the global money supply, cryptocurrencies are still a nascent technology and their future value is difficult to predict.
Cryptocurrencies are often traded on decentralized exchanges and can also be used to purchase goods and services. Some merchants, such as Overstock.com, allow customers to pay with Bitcoin. There are also a growing number of brick-and-mortar businesses that accept Bit
Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain.
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.
Why Bitcoin?
Bitcoin has several advantages over traditional currencies. For one, bitcoins are immune to inflation or deflation. They are also easy to transfer, and can be used anywhere in the world where there is an internet connection. Finally, bitcoins are secure and difficult to counterfeit.
How to Buy Bitcoin
The most common way to buy bitcoins is through bitcoin exchanges, such as Coinbase or Bitstamp. You can also buy bitcoins from individuals in person or online.
How to Store Bitcoin
The safest way to store bitcoins is in a bitcoin wallet. The