I'm back, y'all and today's tech topic is Bitcoin. What is Bitcoin? It’s like a limited edition handbag. There is a limited amount made which can be purchased and then traded and sold from one person to another without the need of a retailer. Unlike handbags, however, Bitcoin is virtual and has a currency-based value.
Bitcoin, a currency in its own right, is accepted as a form of payment by various businesses and industries across the world. Like the American dollar or the British pound, Bitcoin has its own price index and exchange rate.
Should I be buying Bitcoin? Well, it depends. If you’re looking for a way to send and receive money for goods and services that’s fast, global, secure, and anonymous, then Bitcoin might be the right fit for you. Since Bitcoin accounts aren’t associated with your identity, it’s a lot harder for hackers to connect your identity with your transactions and accounts. This is part of the reason why Bitcoin is secure. Unlike other transactions we make every day like paying our rent, Bitcoin transactions propagate almost instantly and since the exchange occurs in a global network, there aren’t any delays. So, whether you’re sending Bitcoin to your friend down the street or a vendor across the world, it’s all the same and fast!
Ready to buy BitCoin? You can acquire Bitcoins by accepting them as payment for goods or services or by buying them from someone near you. Don’t know anyone with Bitcoins? You can also buy them directly from an exchange network online with your bank account. If you’re ready to buy, check out this free course from Udemy I've linked below. Know of other great resources? Share them below in the comments!
Photo credit: Julia O Test