Beginner Bitcoin Guide Made Easy

This Bitcoin guide can help anyone understand the many aspects of cryptocurrency. This guide comes from the folks of Coins-info.com

Bitcoin is decentralized currency. There is no government or banks that can control the digital currency. This makes Bitcoin very different from your typical fiat money you normally use to buy goods or services.

There might be some people who are curious about getting into Bitcoins, but are wondering where they should start. This short Bitcoin guide can help them understand some of the important part of the cryptocurrency.

Basics of Bitcoin

As mentioned above, Bitcoin is digital currency that is not under any office. This makes Bitcoin immune from inflation which is the result of printing too many currencies. If every currency were to lose its value, Bitcoin’s value will still remain because it is decentralized. Bitcoin can act as a financial life boat to anyone looking for something to invest in when their currency is losing value.

Signing up for a Bitcoin wallet

When you go up to any bank to sign up for an account, you need to fill out more than 1 form as well as present some identification. After waiting for several minutes after giving a form, you will be asked to pay a certain fee to opening a bank account. You then have to wait several more minutes until they finally give you your card or bankbook.

When you sign up for a Bitcoin wallet, you only need to use an email address to create one. In just a few minutes, you can have a digital wallet to store all of your Bitcoins. You don’t even need to use your real name or other personal info when you sign up for one.

Buying and obtaining Bitcoins

There are three ways to obtain Bitcoin. The first one is to buy them from a gateway or exchange site. Certain services or individuals sell Bitcoins at a certain value. You can also buy them from Bitcoin ATMs if these machines are available in your area.

The other way of getting Bitcoins is through a faucet site or app. Faucets provides a small amount of free Bitcoins. Sites simply require you to visit them while faucet apps have you reach a certain point in the game before obtaining your digital coins.

Mining is the third way of obtaining Bitcoins. Mining is a process where a hardware solves a complex math problem in order to create Bitcoins. Bitcoin mining equipment is usually expensive and using any computer to mine the coin will only provide a very small amount. A good solution to this is to use a cloud mining service. You simply purchase a certain amount of mining power from a provider. This mining power is used to create Bitcoins.

Anyone looking for a complete guide to Bitcoin can find it at Coins-Info.

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Created on Dec 31st 1969 18:00. Viewed 0 times.

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