Bitcoin, the world’s first decentralized digital currency, has been on the rise since its inception in 2009. It has gained popularity among investors, traders, and everyday people alike. With a current market capitalization of over $1 trillion, it is no surprise that many people are interested in getting started with bitcoin in 2018.
In this article, we will discuss the basics of bitcoin and how to get started with it.
What is Bitcoin?
Bitcoin is a digital currency that is decentralized, meaning it is not controlled by any central authority. It is built on a technology called blockchain, which is a digital ledger that records all bitcoin transactions. Bitcoin transactions are verified by a network of computers around the world, making it secure and nearly impossible to hack.
How to Get Started with Bitcoin
1. Get a Bitcoin Wallet
To get started with bitcoin, you first need a bitcoin wallet. A bitcoin wallet is a digital wallet that stores your bitcoin. There are several types of bitcoin wallets, including mobile wallets, desktop wallets, and hardware wallets. Each type of wallet has its own advantages and disadvantages. It is essential to choose a wallet that suits your needs and is secure.
2. Buy Bitcoin
After you have a bitcoin wallet, the next step is to buy bitcoin. There are several ways to buy bitcoin, including through a bitcoin exchange or peer-to-peer marketplaces. Bitcoin exchanges are online platforms where you can buy and sell bitcoin. Peer-to-peer marketplaces allow you to buy and sell bitcoin directly with other people. It is important to research the exchange or marketplace before buying bitcoin to ensure that it is reputable and secure.
3. Store Your Bitcoin Safely
Once you have bought bitcoin, it is important to store it safely. You can store your bitcoin in your wallet, but it is important to take extra precautions to ensure that your bitcoin is secure. If you have a significant amount of bitcoin, you may want to consider using a hardware wallet. A hardware wallet is a physical device that stores your bitcoin offline, making it nearly impossible for hackers to access.
4. Use Bitcoin
After you have bought and stored your bitcoin, you can start using it. You can use bitcoin to purchase goods and services online or send it to other people. Many businesses accept bitcoin as payment, and there are several online marketplaces that allow you to buy and sell goods using bitcoin.
Conclusion
Getting started with bitcoin in 2018 is easier than ever before. With a bitcoin wallet, you can buy, store, and use bitcoin securely. It is important to do your research before buying bitcoin to ensure that you are using a reputable and secure exchange or marketplace. By following these steps, you can start using bitcoin and take advantage of its benefits.