How and Where to Buy The King of Cryptocurrency: Bitcoin (BTC)
Bitcoin (BTC) is the first decentralized cryptocurrency, Bitcoin (BTC), which was created in 2009 by presumably pseudonymous developer Satoshi Nakamoto. It used SHA-256, a cryptographic hash function, as its proof-of-work scheme.
What is Bitcoin?
Bitcoin (BTC) is an innovative payment network and a new kind of money. Bitcoin (BTC) uses peer-to-peert technology to operate with no central authority or banks. Managing transactions and the issuing of BTC is carried out collectively by the network.
Bitcoin is open-source, its design is public, nobody owns or controls it and everyone can take part.
Sounds interesting? If you would like to own and trade Bitcoin (BTC). Here are some simple steps:
You can purchase BTC through a variety of apps on your phone, or exchanges on your computer. One of the simplest to use, and the most popular is CoinBase. This is easy to use on your phone or tablet and is available to most people in most countries.
Use the link above on your PC or use the link to download the app from your app store onto your phone and follow the prompts to set up a wallet. Then link your credit card or bank account and purchase your first amount of Bitcoin.
If you prefer to use your PC instead of your phone, you can buy Bitcoin on the CoinSpot website. You will also find many of the top 100 coins on there as well, and the added security of email confirmations on your PC may feel better than using your phone.
Note that you do not have to purchase an entire bitcoin (like you do not have to purchase an entire bar of gold); you can simply denominate how much you would like to buy, eg. $5 worth, $20 worth or as much as you like.
Once you own some bitcoin, you can choose to transfer it to other exchanges, you can use it just like money to buy other coins or tokens, you can use it to send to friends or family in other countries or areas, or you can simply hold onto it ("HODL") for the longer term.
If you choose to HODL, it is possible to earn interest on your bitcoin, using one of the following applications:
1. Celsius -- this is what we use for BostonCoin, and operates similar to a bank, where you can deposit and earn interest, or borrow against an asset to receive cash or coins. Interest rates may vary from 2% up to 10% or more, depending on how stable the coin is seen to be. New investors may receive up to $20 when using the above link to create a new account.
2. Crypto.com MCO/CRO-- this is a favourite for many reasons, as you can earn interest on a wide variety of coins, as well as apply for a crypto debit card. This operates similar to a pre-paid Visa card, where you top up before use, however, you can choose to top up with cash or crypto. For example, you can transfer Bitcoin(BTC) to the card and spend it like cash, or let it sit in the account and earn interest. Rates again vary from 2% up to 10% or more. New investors may receive up to $50 when using the above link to create a new account
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