Bitcoin is an online alternative currency system, which acts as a form of digital money. Bitcoin is used both as an
investment, and as a method of payment for goods and services, and is touted as a means to do so without needing
to involve any third parties. Despite their growing popularity, most businesses still do not accept Bitcoin, and their
usefulness as an investment is both highly questionable and potentially risky. Before proceeding to buy Bitcoin, it is important to understand what it is, and it's advantages and disadvantages.
Understand Bitcoin Basics
Bitcoin is a completely virtual currency, that allows consumers a way to exchange money for free, without the use
of a third party (like a bank, credit card company, or other financial institution).
Bitcoin exchange script are not regulated or controlled by a central authority like the Federal Reserve and all Bitcoin transactions take place in an online
marketplace, where users are anonymous and untraceable for the most part.
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