The Basics of Bitcoin


What is Bitcoin?

Bitcoin has become one of the world’s most popular cryptocurrencies. Bitcoin made its big debut in 2009. At first, the concept of digital currency excited and scared a lot of people. As its popularity increased, Bitcoin has become active all over the globe. However, there are still many unsure of what Bitcoin really is and how it can be used. Bitcoin is a form of electronic cash, where the seller is in control. This means that there is no middleman. This idea was a huge attraction for many who were simply looking to send and receive money without any interference. Bitcoin has become more accessible over the last few years. Crypto companies, such as Bitcoin of America allow individuals to buy Bitcoin from ATM locations, wire transfers, store payment locations, and tablets. A customer can do all of this and still receive coins the same day.

Knowing the Basics

Bitcoin has become a popular craze all around the globe. Bitcoin can be used as an investment or for online purchases. It has become more accepted in major retail stores and businesses. Expedia, Microsoft, Wikipedia, and subway are just a few examples of popular places to spend your coins. The main attraction for most is that it’s not sponsored by any financial institute or government. Bitcoin instead works through a network in the Bitcoin community. People within the network use a computer to complete calculations also known as mining. 

The Rise of Decentralized Exchanges

Before looking for the best place to purchase Bitcoin, you should know the difference between centralized and decentralized exchanges. Centralized platforms are dominating the cryptocurrency market as the majority of deals are made through centralized portals. Centralized sites or exchanges are in demand, but one downside is commission. Centralized exchanges have that risk of getting hacked, charge high fees and take a lot of time. Having a decentralized alternative available makes centralized exchanges not as productive.

Bitcoin Investment

Before investing, there are many helpful tips and advice that should be considered. Even though Bitcoin has become the leading cryptocurrency, there are still a few potential risks. Huge price fluctuations can make it a risky investment, so it’s suggested to invest funds you can afford to lose. It is very important that you learn how to properly store your Bitcoin and make sure that they are well-protected. Doing research on when a good time to purchase Bitcoin can be helpful. Many investors make the mistake of only focusing on coin price and then choose to invest. It is important to do your research on investing. This could mean reading a book, watching a video, or simply just asking a professional for advice. 

Advantages of Bitcoin

Other forms of payment, such as credit and debit cards have high transaction fees. However, Bitcoin transfers have low and affordable fees. The high fees charged by other financial institutions have lead many to turn from these payment forms. Transactions in the crypto space are based on a peer-to-peer model and do not involve any third party. This allows for numerous benefits. Users will not be charged extra fees.  Similarly, transactions are much faster since both parties will be dealing directly with each other. Due to its nature, Bitcoin transactions are more secure compared to other payment modes. Hackers cannot prey on the transactions with hopes of defrauding either party. Transactions are carried out via a blockchain network, which translates to zero chances of fraud taking place. In addition to that, blockchain allows for transparency, which guarantees security for both parties during the transactions. 

Where to Store your Bitcoin?

Still eager to know where you can store your Bitcoin? Here are some pointers that may help you find a safe place to store your coins. Typically this is the first step a customer will follow before buying Bitcoin. To start, you need to arrange a digital wallet. Both online and offline digital wallets are available to help in storing your crypto-assets. A digital wallet can be used to buy or sell; it’s basically a program on your smartphone or computer. Cryptocurrencies can be transferred from this digital wallet instantly. Then it can be used further for purchases of goods or services at online or offline stores. Over time, many businesses and merchants have started accepting Bitcoin as a form of payment. Bitcoin has started to integrate into a daily trend for many. With the use of digital wallets, you can make transactions instantly. 

The Best Place to Trade Bitcoin

There are numerous online trading platforms available in the market. Coinbase is the most respected and biggest platform across the globe. It’s one of the best places to start crypto trading using the suitable currency. Coinbase currently supports Bitcoin, Ethereum, Litecoin and Bitcoin Cash. Crypto users need to register with the portal and connect a bank account to start trading. Funds can be easily transferred in and out from the account in a few simple clicks.

Bitcoin of America is another renowned Bitcoin trading platform in the business. Crypto users from across the globe can use this online trading platform for fast and hassle-free exchanges anytime. For crypto users looking for cheap and affordable Bitcoin trading, Bitcoin of America is the best option. It takes less than one minute to register your account, making it easy for beginners. Most importantly, trading with Bitcoin of America is Safe. They registered with FinCEN, the US Department of Treasury, as an MSB. They operate in full compliance with all Federal and applicable state laws. They also allow many different services. They allow users to buy bitcoin with a credit card up to $599. They also offer a service where you can sell your cryptocurrency and receive a prepaid Visa gift card up to $1999. 

Hosting A Bitcoin ATM

A bitcoin ATM offers a convenient way for your customers to buy and sell bitcoin in your store, bar, restaurant, or office building. The bitcoin machine resembles the appearance of a conventional ATM, which collects cash and prints the customer a receipt and a code when they buy bitcoin. Companies, such as Bitcoin of America offer many different advantages, such as monthly revenue, when you host a Bitcoin ATM location. Their payout is the highest in the bitcoin ATM business. Moreover, they are registered with FINCEN and fully comply with their regulations. You can receive a monthly rental ranging from $300 to $1,200 for hosting their machines, depending on the location and hours. You only need to provide power and an internet connection to our machine. Bitcoin of America also handles the maintenance. They are responsible for maintenance, cash logistics, and legal compliance. They also service all of their machines throughout the country and also get all the necessary permits. Bitcoin has been rapidly growing worldwide while gaining acceptability around the globe. If you choose to own a Bitcoin ATM machine in your store, customers can then use the machine and buy their bitcoin at your store. They also will also market your store address to direct their customers to your store to use the machine.

Bitcoin Tablets

Bitcoin is a global digital currency that has steadily increased in popularity for the past 8 years. Bitcoin of America offers a tablet service that puts a Bitcoin ATM in your hands. This service is free and includes delivery. It comes with free advertising on your location on Google ads and social media. It helps give you an advantage over competitors and brings monthly revenue to your store. All that is required is both power and internet connection. Bitcoin of America takes care of all logistics and compliance. 

Finding Bitcoin Near You!

Cryptocurrency’s popularity is increasing every day and becoming more accessible for customers to purchase. Numerous online trading platforms and BTM kiosks are available at prime locations to help you trade cryptocurrencies fast. Dedicated mobile apps and websites are available to help you find a location near you. This can range from a Bitcoin ATM, tablet, and other forms. There has been a major increase in services across the country as there is more demand. 

Giorgi is a news reporter and financial analyst at He has 3 years of experience in analyzing the financial markets of Forex and cryptocurrencies. He also likes making hidden jokes in his articles.