How BitCoin Helps to Create a More Sustainable Financial World

As Bitcoin reaches the dizzying all-time heights of over $20,000 at the end of the year 2020, it seems to be one of the most talked-about investments. While it’s not widely accepted as mainstream currency at this point, the buzz around this cryptocurrency is still increasing rapidly. 

What are Bitcoins, and where did they come from? 

Bitcoin is an innovative payment method that was created in Japan 12 years ago in 2009, by an anonymous person under the alias of Satoshi Nakamoto. Bitcoin is not money that can be physically held in your hands–it is a digital cryptocurrency that can be used to purchase goods and services online.

Where can I get Bitcoins? 

You can acquire bitcoins by providing goods and services to Bitcoin users, trading paper currency for Bitcoins, or Bitcoin ‘mining’.  Various websites will sell Bitcoin to investors that offer secure accounts that protect your assets from being accessed by scammers and hackers.

What is Bitcoin ‘Mining’?

Bitcoins become minted when they go through the ‘Bitcoin Miner’ that attempts to find a new block in the Bitcoin chain network. Mining involves offering your computer to Bitcoin, and once a new block is found through working through various complicated puzzles and mathematical equations, the owner of the computer will receive 50 Bitcoins.

Where can I spend Bitcoin? 

Due to their anonymous nature without having to go through banks, many people will favor Bitcoin where they have the opportunity to spend it. Physical businesses should display signs indicating the acceptance of payment in Bitcoin, while websites and online retailers should list it as acceptable at their point of sale.  

Invest Responsibly

As we have seen, bitcoins can be a vital tool if you are trying to diversify your investment portfolio and work towards a more sustainable financial future. However, investing in Bitcoin can also be risky and come with significant losses without the necessary experience and knowledge.

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