Bitcoin is a financial technology where the user can directly transact a transaction without using an administrator. All the transactions made are recorded in a block chain or a public distributed ledger. Using the block chain, the users will be able to handle their account properly. The block chain can be accessed easily by the users.
Bitcoin can be accessed by the registered user only. You still have to register first at the Bitcoin website after which you can already use Bitcoin. Members of Bitcoin keep their bitcoins at a bitcoin wallet. As mentioned earlier, all transactions made by a bitcoin user are recorded in the block chain; hence, the wallet and the block chain are inseparable.
After the registration process, you’re now a member of the Bitcoin technology. You can now purchase bitcoins which you can use in your transactions. The next thing for you to do is to know where to buy bitcoin and how to buy it.
Where can the User buy Bitcoin?
Bitcoin can be purchased from an individual or from an exchange like:
After knowing where to purchase bitcoin, the following steps can help you buy bitcoins:
- Check on the latest order book and submit it after logging in
- Send payment after filling out the deposit slip. Made the account payable to the account reflected in the confirmation page which you received after you have sent your orders. Payments should be made to any local branch of the seller’s bank account.
- Check your email for the link where you can upload the receipt of your payment.
After completing the steps, you will receive the coins within three hours after the seller have confirmed the payments you have sent.
Bitcoin has been accepted and use widely by merchants because aside from receiving incentives, the fees incurred for every transaction are lower than the fees imposed by the credit card processors.
Aside from placing bitcoin in your money account, you can always use bitcoin to purchase applications or apps, games and videos, windows phone and the Xbox platforms. Bitcon can also be used to purchase gift cards, Jewelries (in some jewelry stores that accept bitcon payments). Furthermore, Bitcoin can also be used to book hotels for accommodations, to pay bar and restaurants and many more.
Bitcoins is the easiest and the safest way that you can keep, manage and spend your money.