Bitcoins were developed and released back in 2009 by some anonymous developer or group of developers under the alias of “Satoshi Nakamoto”. The true identity of these individuals that were involved in the development to this day remains unknown.
Decentralized network
Bitcoins were developed as a peer-to-peer network as one way of decentralizing the trust among participants on the network. By not having any authority that is central means that those who participate are entirely responsible. All transactions using bitcoins are stored on a public ledger known as the “bitcoin blockchain”. While these transactions are public, the sender and recipient are not named on the blockchain.
Website hosting
Bitcoins can be used for many types of transactions including bitcoin server hosting. This is a quick and easy way to pay for any website hosting that you might have.
Exchanges
Several popular cryptocurrency exchanges support over 100 plus coins, providing a platform that is superb for:
- Buying
- Selling
- Trading
Turn cash into bitcoins
There are various ways that one can turn cash into bitcoins and these include:
- Peer-to-peer
- Direct by exchanges
- Tether
- Bitcoins ATM
- Cash buying
- Exchanging with other cryptocurrencies
Research
It is best before you jump right in, to do some research on the pros and cons of owning bitcoins and what transactions you can pay for with them. The internet offers a wealth of information on this subject so you will know if this is something you are interested in taking part in. Currently, there are millions who are using bitcoin transactions to take care of many of their expenses especially those set up to pay out on a monthly or quarterly basis.
Store safely
Prior to buying bitcoins, or selling any products for bitcoins on your website, you need to learn about storing your coins safely. Primarily, storing bitcoins on an exchange can be a risky decision to make, so here too you need to research to find the least risky option.