Ultimate Guide To Bitcoin For Beginners(plus Bitcoins Facts-Infographic)

The ultimate guide to Bitcoins
The ultimate guide to Bitcoins

Welcome to Dannystech today, we are going to share with you everything you need to know about Bitcoin.In this post, you will learn about some of the key questions most people usually ask about Bitcoin such as;
What is Bitcoin
How Does Bitcoin Work
How Do You Get Bitcoin
How To Buy Bitcoins With Cash
Bitcoin Wallet and a lot more vital information about Bitcoins.

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What is Bitcoin?

Bitcoin is a peer-to-peer electronic cash system.Meaning Bitcoin transactions are made directly from one person to another without going through any financial institution.
Bitcoin is best described as ‘cash for the Internet’.

Who invented Bitcoin?

One might ask if Bitcoin is not controlled by any financial institution then who invented it? Satoshi Nakamoto was the first person to introduce Bitcoin in 2009.The true identity of Satoshi Nakamoto still remains anonymous.
Bitcoin is also known as digital cash, cryptocurrency, an international payment network, the internet of money—but whatever you call it, Bitcoin is a revolution that is changing the way people think about and use the money.

How Does Bitcoin Work

How does Bitcoin work is a question that often causes confusion? Here’s a quick explanation of how Bitcoin works;

Bitcoin shares some similarities with real-world currencies, particularly its growing acceptance as a form of payment with more and more merchants, retailers and individuals, both online and offline. You can buy different products with Bitcoin, buy airline tickets with Bitcoin, or pay for goods and services with Bitcoin.

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Bitcoin is totally different from physical cash like US dollars, Ghana Cedis, Nigerian Naira etc which is backed by the government of the country.Bitcoin currency only exists in an online world that follows mathematics and clever encryption protocols.

You can use Bitcoin to make all sorts of real transactions your Paypal account, Credit/Master Card could do.In order to get Bitcoins, you first need to open a Bitcoin Account and then buy the number of Bitcoins you require either through either MTN Mobile Money, Credit/Master Card, Paypal Wallet, Skrill etc. You can also decide to tell your family and friends who have Bitcoins in their wallet to send you some as well.

All you have to do is to just provide them with your Bitcoin Wallet Address, then your Bitcoins will be transferred directly into your Bitcoins Wallet.
If you have balance in your Bitcoins wallet you can easily pay for any product online, a service you received etc so far as the person accept Bitcoins payments without providing your sensitive information such as credit card details, Bank account details etc.

Spending or receiving Bitcoin is as easy as sending an e-mail, and you can use your computer or your smartphone. T

How To Get Bitcoin

Now you have learned the basics of Bitcoin.The next step is How To Get Some Bitcoins.This guide will show you how you everything you need to know about how you can get Bitcoins in Ghana and every part of the world.
The best way can get Bitcoins is to buy them from reliable exchangers.You can pay these Bitcoin exchangers in a variety of ways such as; buy bitcoin in Ghana with mobile money, Buy Bitcoin with Paypal Buy Bitcoin with skrill, buy bitcoin with naira and lots more.
The main thing you have to know is that buying of Bitcoins all depends on who you are buying them from and where you live.

Things You Need To Know Before You Can Get Bitcoins

1.First, get yourself a bitcoin wallet

You will need a place to store your bitcoins. In the bitcoin world, they’re called a ‘wallet’ but it is best to think of them as a kind of bank account.

How To Create A Bitcoin Wallet will be published soon.

2.Exchanges and Online Wallets

There are a variety of Bitcoin exchanges and wallets competing for their business.The best exchange option also depends on where you’re located.

In our next post, we will be updating you with the best Bitcoin exchanges in many parts of the world and how to create your first bitcoin wallet.

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Top Facts About Bitcoins(Infographic)

Top bitcoin facts
Top bitcoin facts source: www.bitcoinplay.net

 

For now, these are the key things you need to know about Bitcoins.You can signup to our Free Newsletter to receive exclusive post and great offers in your inbox.Do not forget to share this post..

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