Many have heard the term bitcoin because this past year it hit record highs and plunged to disappointing lows. So what exactly is this cryptocurrency? Bitcoin is a type of digital currency. It allows users to make anonymous transactions using the Internet. These transactions are validated through a vast network of computers. This network literally makes conventional means to get money, like through a government or bank, if not insignificant, at least less of a monopolizing force. It is referred to as a decentralized form of currency. Because of this, many consider this cryptocurrency as being privacy friendly when it is compared to other corporate banks. Every single transaction made with bitcoin is encrypted and also tracked using mining. This data is then saved onto a record that is known as a block chain.
Getting Started
If you are interested in getting bitcoin, the first thing you need to do is get a bitcoin wallet and find Bitcoin ATM near Philadelphia. Having a bitcoin wallet makes it so others can send you bitcoin and you can send others bitcoin. This is similar to how an online checking account works. The only difference is that there is no personal information that identifies you for the person you send money to. It takes a very short time to sign up for the wallet. All you need is an email address. Your wallet can be online, off-line, paper, or hardware. Once you have a bitcoin wallet, you can then make transactions.
Ways to Buy Bitcoin
It was once believed that the only way to purchase bitcoin is to use a computer. Times are changing and technology around this crypto currency is developing. A convenient way to buy and sell this cryptocurrency is to use a Bitcoin ATM near Philadelphia. Once you have successfully created a Bitcoin wallet, you can find where the nearest ATM is and make a purchase. One of the most convenient features of using a Bitcoin ATM is that they are very simple and straightforward. They are very similar to using a traditional ATM used to make transactions between accounts at a bank ATM. Another way to get Bitcoin is to use an exchange site to purchase Bitcoin.
Since Bitcoin is becoming more and more popular, there are more ways to purchase and sell this cryptocurrency. Creating a wallet and using an ATM to access your bitcoin is a convenient way to use cash to buy bitcoin.
If you would like to learn more about the bitcoin ATMs available near Philadelphia, visit RockItCoin. We make purchasing bitcoin easy.
