What are Bitcoins And How To Get Bitcoins-Explained
Are you wondering what are bitcoins? And how to get bitcoins. Well, this post will provide insights into what they are, reasons for increased popularity and how to buy them. With such information, you’ll be ready to hit the ground running and get some.
What are Bitcoins?
Bitcoins are a form of decentralized digital currency which can be used pretty much the same cash is used. As a peer to peer digital currency impeccable for online communities, bitcoins have risen in popularity due to the many benefits they have to offer.
Reasons for increased popularity- Bitcoin Benefits
The increased popularity of bitcoins can be attributed to the immense benefits that they offer which include:
Bitcoin is global (virtual money) – Bitcoins can be transferred globally to anyone and anywhere with internet just like emails.
Bitcoin does not discriminate- There are no restrictions based on age, minimum balance, gender, credit history hence immense flexibility.
Bitcoins are infinitely divisible- They are divisible up to eight (8) places hence collapsible and expandable for all practical purposes.
How to Get Bitcoins?
There are various sites explaining how you can get bitcoins ranging from online casinos to purchasing them. The only reliable way to get them is by buying them. Here are some of the steps you need to follow when looking to buy Bitcoins.
First, it essential that you have a Bitcoin wallet, a simple program which enables you to store and make transactions using Bitcoins. This is a free wallet which you only need to sign up for.
Secondly, login from the Bitcoin address you have created. Once you’re in, click on receive money/coins and a Bitcoin address will appear on the page with a 34 to 36 characters starting with one. This is the address you need to receive payments.
Finally, with your address in place, buy your Bitcoins with cash. You can be able to do this by entering the address obtained from the latter step into the search box of the Blockchain.info homepage. This will redirect you to a specific page which shows the transaction you have just made. Click on the deposit with cash button and enter the amount of Bitcoins you want to buy.
Hopefully this short post helped you get an idea of what are Bitcoins and how to get them. It would be interesting to see if the Bitcoins will take off as a global currency.