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What Is A Bitcoin?

A Bitcoin

The use of a bitcoin is something that you use to purchase online, it is a virtual currency that people use to buy items online and in an event that they will be buying items in a market, they can have the bitcoins exchanged. To put into basic words, bitcoins are online money.

Years ago, the bitcoin was created by an unknown programmer. The bitcoin has gotten really popular these days because technology has also made online business progress over the years and the virtual currency that is bitcoin is also becoming a normal commodity in the world because a lot of people nowadays shop online and that is why the bitcoin is being used as well.

The Bitcoin is booming

The bitcoin before was something like an unknown star, people did not see the use of this coin as well as its purpose in the money business. The bitcoin rose together with the popularity of online selling, it was in the year 2011-2012 where both virtual currency and online selling was at its peak and it progressed more over the years. The bitcoin was being ignored before but until a certain year it rose to 300% until another additional 100% making it a total of 400%, making it a huge thing in the online business and virtual currency. Because of its rose to fame that investors from around the world did not fail to put importance to this virtual currency called the bitcoin.

In 2014, the bitcoin received $57 million from a certain investor, imagine that? What a huge amount! And it did not stop there! They received another $73 million in the second quarter, a total of $130 million, the amount is even greater than the last total of $88 million. That is such a big amount compared to the beginning of bitcoin where its total money amounted to a mere $2.2 million.

Years passed and the bitcoin has become so useful and popular to these businessmen that a lot of people are now looking for ways on how to use the bitcoin as well as invest in them.

How to invest in bitcoin

The best way in investing in bitcoins is by buying this virtual currency. A lot of establishments recognize the BTC known as bitcoins that is why it is safe in investing in bitcoins because it has not become a commodity.

Other methods in exchanging bitcoins

Exchanging these bitcoins is not the only way in investing in them, there are also other ways. These bitcoins called local bitcoins can be used to purchase BTC offline. The BTC industry has made websites to attract potential buyers as well as sellers, there will be links that will be distributed around the internet for that. The sellers of bitcoins will be identified in the website and it will only be release to the buyers in the website.

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