What is Bitcoin?

In a sense Bitcoin is just a digital form of money, however, it is so much more than that. Every transaction is recorded and publicly available to be seen on the blockchain by literally anyone and everyone, which also makes it a lot less anonymous than many would have you believe. I like to think of the blockchain sort of like a giant spreadsheet which normally only accountants would even bother to look at or even only have access to. Only in this case everyone can see it, and once something is put on it nobody can change it, so unlike some accountants, nobody can fudge the numbers, not even just a little bit.

Why Bitcoin?

People are getting into Bitcoin and other cryptocurrencies for a whole host of reasons. Bitcoin was initially intended to provide an alternative payment system, that was decentralized and that would operate free of central control (essentially free from any government getting their grubby little fingers on it). However, the entire blockchain space has turned into a heck of a lot more. Plenty of people are calling bitcoin a store of value instead of a currency due to a few different reasons. However then smart contracts came about, then decentralized finance, and then combine that with the ability to trade different cryptocurrencies essentially like stocks, lots of wealth can be made (and lost) in the crypto market. I really like the aspect of crypto being the people’s money and how it is free from centralized control, but I have also used it to make a decent chunk of change.

How to buy Bitcoin?

Obviously, these are not the only ways to buy Bitcoin or any other cryptocurrency. In fact, depending on where you live you might not even be able to use any of these methods. However, these are the ways that I have personally used to purchased bitcoin or other crypto currencies. As always this is not financial advice and you should do your own research.

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