Bitcoin A Payment System with Currencies Characteristics

If you're looking to get started in the world of Bitcoin, there's a few things you need to know. First, what is Bitcoin? Bitcoin is a digital asset and a payment system with characteristics of a currency. It's decentralized, meaning it isn't subject to government or financial institution control. It's also pseudonymous, so your identity isn't attached to your Bitcoin transactions. And finally, it has a finite supply, so it can't be inflated like traditional fiat currencies.

So how do you buy Bitcoin? There are a few ways. You can buy it on an exchange like Coinbase or Kraken. You can also purchase it from someone else through a peer-to-peer marketplace like LocalBitcoins. Once you have your Bitcoin, you'll need to store it in a wallet. Again, there are several options available, but one of the most popular is the software wallet Electrum.

What can you do with Bitcoin? Well, since it's pseudo-anonymous, many people use it for illegal activity like buying drugs on the Silk Road or funding terrorism. However, there are plenty of legitimate uses as well: purchasing goods and services online, sending money to friends and family overseas without expensive international transfer fees, or even just holding onto as an investment Bitcoin has gone up in value exponentially over the past few years.