How to Use Bitcoin.

in #bitcoin3 years ago

Until recently, in order to transfer money electronically, you had to use a third party service. Such as a bank or payment processor like PayPal or Western Union. Which are all easy points of regulation, however with Bitcoin it's an entirely different story.

No one needs a third party service to own, spend, and send Bitcoins anywhere in the world. All that is needed is an open source wallet, of which there are plenty available to download.

Bitcoin as a whole is a decentralized system that doesn't require any third parties to interact with. It bypasses banks and governments. It cannot be directly regulated by any central authority. It's from the people to the people.

The entire Bitcoin network is public and operated by the people. It is designed in such a way that it cannot be cheated or abused. As a new user you can get started with Bitcoin without understanding the technical details.

Bitcoin can be stored on any computer, tablet,mobile phone, or simply on the internet in one of the many online wallet services.

I will go over some of the wallets in depth later on.

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No one needs a third party service to own, spend, and send Bitcoins anywhere in the world. Hell yes!