You cut the grass for your neighbor every Saturday and get $15 in cash.
You sell your tablet and get $100 in cash.
Then you buy alpaca socks but you don’t want to use your cash. What do you do? You turn to the future for currency.
Welcome to Bitcoin!
So! What exactly is Bitcoin? Glad you asked!
- Bitcoin verifies transactions with the same state-of-the-art encryption that is used in military and government applications.
- Bitcoin is open-source. Nobody owns it; the most popular client is maintained by a community of open-source developers.
- Using the Bitcoin network is free, except for a voluntary fee you can use to speed up transaction processing.
- It’s the cheapest way to move money around.
Bitcoin is a currency completely on the web. It flows to and from computers, kinda like cash is exchange from one person’s hand to another. It’s done almost instantly, there are no fees, and no middle-man to control where or who you send to. Most may see this currency as a benefit for the “Dark web”; and in most cases that may be true. But it is also a legit way to control your own money.
Right now there are merchants who accepts Bitcoin as a real currency to pay and get paid for stuff.
One example I would like to show is Glyde, who recently started accepting Bitcoin for buying and selling electronics.
With Glyde you can
- Sell or Buy Cell Phones
- Sell or Buy Video Games
- Sell or Buy Tablets
- Sell or Buy iPads and iPods
- Sell or Buy Electronics
And now they accept it in both Bitcoin and US Dollars! Go check them out.
Some uses of Bitcoin would be for investment as well as regular currency use.
The exchange rate of bitcoin (BTC to USD) can change depending on how much a person is willing to pay.
You can check out the current popular exchange rates for Bitcoin to USD on Preev.com
If you are interested in Bitcoin and want to learn more, use some of these useful links!