It’s not bitcoin or ethereum. There are thousands of cryptocurrencies out there, and bitcoin is just one of them. Many people think bitcoin when they hear “cryptocurrency”.

  • What you need to know about bitcoin before jumping in
  • How many bitcoins do I get for my money?
  • You can buy fractions or “Satoshis” of bitcoin.
  • What you need to know about bitcoin before jumping in

The easiest way is through Coinbase, but there are other options out there as well. Look into it first and then decide whether or not you want to use that service. Also, check the bitcoin exchange rate to see how much bitcoin you’ll actually be buying.

What is bitcoin and how does it work?

  • Bitcoin is a digital currency that enables people to transfer bitcoin over the Internet. People are sending bitcoins to each other over the bitcoin network all the time, but unless someone keeps a record of all these transactions, no-one would be able to keep track of who had paid what. The bitcoin network deals with this by collecting all of the transactions made during a set time into a list, called a block. It’s the bitcoin miner’s job to confirm those transactions, and write them into a general ledger. This general ledger is called the bitcoin blockchain. The miners all compete with each other to do this because whoever wins gets a reward of brand new bitcoins! Not only that but they also get to keep all the transaction fees bitcoin users have paid.

Read more: What is a bitcoin indicator?

 

  • People are sending bitcoins to each other over the bitcoin network all the time, but unless someone keeps a record of all these transactions, no-one would be able to keep track of who had paid what. The bitcoin network deals with this by collecting all of the transactions made during a set time into a list, called a block. It’s the bitcoin miner’s job to confirm those transactions, and write them into a general ledger. This general ledger is called the bitcoin blockchain.

 

bitcoin-price

What is bitcoin worth?

Bitcoin is valuable because people believe it is. Much like gold, bitcoin’s value comes from the fact that its supply is finite and bitcoin was designed to increase in value over time (if demand increases sufficiently)

What is bitcoin worth?- Bitcoin’s value comes from the fact that its supply is finite and bitcoin was designed to increase in value over time (if demand increases sufficiently).

 

Are you looking to invest in bitcoin? Search no longer! We can help you open your first bitcoin wallet, and then purchase bitcoin directly from the same online service. Click here for more information. It’s easy – there are many platforms out there that make investing