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Before you move deeper into the world of Cryptocurrency and Bitcoins, you need to first understand what they mean and how they work. Having a holistic understanding of how Bitcoin functions, will give you a better idea of how to invest in them. You can also then be more judicious and calculative when you spend or invest in Bitcoins.

What is Bitcoin?

The first thing that any investor should do is to know their currency properly. You do not want to invest your precious earnings in something that you do not fully understand. You would definitely want to make sure that any payments you make, are safe and secured. Bitcoins are the first type of Cryptocurrency that made quite a name, especially because of their safety feature.

It is said that Bitcoins were invented by Satoshi Nakamoto, which is a pseudonym of the person who created the currency. Bitcoins function through a system that works with a blockchain technology and therefore, the whole process is decentralized. Bitcoins are also not endless in number. There are only a fixed number of Bitcoins that exist. There is a middleman who can interfere in the system through which Bitcoins work, but there is no central authority.

This means that your money or currency cannot be accessed by anyone other than you, which is different than how banks can access your money. Any transaction made through the blockchain technology is irrevocable and its details are stored in the database for ever. In addition to this, every transaction requires all the participants of the system to verify the transaction. If this is not done, then a transaction will remain incomplete. This makes the whole process less vulnerable to theft and fraud.

Easy ways to buy Bitcoins

The easiest way to buy Bitcoins these days is to buy credit or debit cards, which let you buy bitcoins of different denominations. There are also a lot of applications that can be used on your phones or tablets, which will let you buy and use Bitcoins. Some of them are Copay, breadwallet, etc.

There are wallets in the form of softwares that can be installed on your computers. They give you absolute independence when it comes to using Bitcoins and the whole process is a lot safer because it is done on your personal device and does not require the involvement of any other party. Any of the softwares mentioned above can be used to buy and use Bitcoins. You can directly use your credit or debit card to purchase Bitcoins via these wallets or apps.

Using Bitcoins- doing it the right way

Beginning to use Bitcoins can be a bit puzzling and intimidating. You can start with buying gift cards at different stores and outlets that accept Bitcoins. There are also directories that will assist you in this field and tell you about places where you can use Bitcoins. A lot of people buy VPN with Bitcoins. This not only helps to make your internet connection safe but also gives you a good space to use your Bitcoins in.