The first, most successful and the largest of the cryptocoins. Came into existence in 2009 and evolved in price from $0.003 in 2010 to $3000 in June of 2017.
Bitcoin becomes gradually more popular all over the World. Today you can use it send funds to anyone around the World, buy a cup of coffee or a mansion in Dubai.
Bitcoin is fast, anonymous and easy to use.
The transactions are done in an instant and unlike the banks, western union etc, the fees are VERY low, as there are no middle-men involved in the transfers. The total amount of available BitCoins is limited and capped at 21 million coins in total, which puts the price at a steady climb up.
According to various predictions, the price of Bitcoin (BTC) may reach as high as $500k per coin within the next few years.
Anonymity means that only you, the wallet holder, knows how many coins you own, while at the same time – no one can EVER block your wallet and prevent you access to your funds.
The transfer itself can be as easy, as scanning a QR code generated by the receiver’s wallet or simply copying/pasting the wallet address. Literally ANYONE can do it.
Today, as more and more large financial organizations realize the Bitcoin’s potential, we hear about this amazing currency more and more often. And with virtually everyone carrying a smartphone in their pocket or purse – everyone can hold Bitcoin.
And since it nearly tripled in value over the first 6 months of 2017 – holding it seems like a very good idea indeed…
So how can you get BTC?
Getting a Bitcoin wallet is as easy, as downloading an app. Purchasing Bitcoin is super-easy too.
To buy BTC you need an account on one of the exchanges. Those are places where you can swap your dollars, euros and the like – into cryptocurrencies.
In our opinion – the most user friendly and reliable exchanges are Bitbay and c-cex.com. You can get an account registered at Bitbay and buy your BTC within minutes and you don’t have to verify your identity if you don’t want to – unless you go over €15k of deposits/withdrawals per year.
C-cex.com is equally user friendly and in addition – it offers hundreds of coins. If you’re looking for a less known coin – this is a good place to start.
You can keep your BTC in the exchange, but we strongly recommend getting a proper BTC wallet. This way you make sure that YOU keep your coins and exchange admins have no control over them. Since BTC wallets are free – it’s a no-brainer.
Coinbase is a great, free wallet that allows you to keep your BTC in a free app on your phone and also offers support for Ethereum and Litecoin. You can get it here.
If you’d like to get information about other ways to get your hands on some Bitcoin (and other Altcoins) – check out our post about mining.