Are you planning to start your crypto venture? Don’t know how and where you can buy Bitcoin? If so, you’ve come to the right place. In this blog post, we’re going to let you know how one can buy Bitcoin without falling victim to scams available on the internet. But before we discuss this in detail, it’s worth having a look at what is Bitcoin.
What Exactly is Bitcoin?
Bitcon is a digital currency launched on 3 January 2009 by a mysterious character known by a pseudonym ‘’ Satoshi Nakamoto.’’ It’s widely advertised as the ‘’mother of all cryptocurrencies.’’ This is because it was Bitcoin that drew world’s attention to cryptocurrency and the blockchain technology. It’s now the largest cryptocurrency by market capitalization. Like other cryptocurrencies, Bitcoin isn’t controlled or regulated by any central body or financial institution.
To put in simply, each Bitcoin is like a computer file that’s stored on a digital wallet app on a computer or smartphone. You can send bitcoin to others’ wallet, and other people can also send bitcoin to yours. Every single bitcoin transaction is recorded and verified on a public ledger called blockchain.
How and where to buy Bitcoin?
To buy bitcoin, you will first need to open an account on any crypto exchange. A crypto exchange is a digital platform that allows you buy, sale or trade cryptocurrencies. There’re many crypto exchanges out there that accept fiat deposit, meaning you can buy Bitcoin using your local currency. People can also buy Bitcoin using a Bitcoin ATM, which is almost similar to a normal ATM.
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