Bitcoin is the first and most famous cryptocurrency that was created. It is gaining traction and making the news on social media, in the majority of newspapers, and most of it by television channels. What is Bitcoin, and how do I get it?
Bitcoin: what is it?
Bitcoin, also called crypto-currency or cryptoasset, is a cryptographic currency based on the internet. It is a digital currency created in January 2009 by an anonymous person named Satoshi Nakamoto. This digital currency came into being after the 2008 US housing market crisis. Bitcoin is created, distributed, traded and maintained through a decentralized ledger called the Blockchain. The Blockchain is a decentralized ledger that records all transactions chronologically and transparently. It's accessible to all. Bitcoin works on a peer-to-peer network with two types of keys: public and private. It was created to take back the control governments and financial institutions have over money and hand it over to the people. It is used to purchase goods and services.
How to get Bitcoins?
To get Bitcoins, you need an internet connection and a wallet. To get Bitcoins on your wallet you have the choice between buying and mining. When you decide to buy, you will have to go to an interchange. On the exchanger, you will have to exchange your dollars previously deposited into your account for USDT. And then trade USDT for Bitcoin. Direct dollar exchange for Bitcoin is possible on exchangers like Binance. The other option you have for buying Bitcoin is the peer-to-peer transaction. You send the dollars to someone who needs liquidity and they send you the corresponding amount of Bitcoin. However, this option to buy remains very risky. You would need to have genuine trust before sending your money to someone who claims to want to sell Bitcoin. Obtaining Bitcoins by mining is now reserved for large companies that have the necessary materials. In the past, Bitcoin mining was possible on cell phones and computers. Today, it is almost impossible to mine a significant amount of Bitcoin on cell phones or computers.