Cryptocurrency is an electronic form of money, which has gained popularity in the recent years. It is a digital currency that is not regulated by any central bank or government. Cryptocurrency has been used as a medium of exchange since its inception.
The concept of cryptocurrency was first introduced in 2008 by an American programmer and cryptographer named Satoshi Nakamoto. The idea behind it was to create a system where transactions could be made without the need for third party intermediaries like banks or credit card companies.
Bitcoin was the first cryptocurrency that was created and launched in 2009. Since then, many other cryptocurrencies have been created and launched. Bitcoin has been the most popular cryptocurrency till date, with over 100 million bitcoins in circulation.
In order to make transactions using bitcoin, one needs to use a bitcoin wallet. A bitcoin wallet is an application that stores your bitcoins and helps you send and receive them. There are different types of bitcoin wallets available in the market. Some of them are desktop wallets, mobile wallets and web wallets.
A desktop wallet is a software program that runs on your computer. You can store your bitcoins on your computer and use them for transactions. Desktop wallets are more secure than web wallets because they don’t store your private keys online. Web wallets store your private keys online, which means anyone who gains access to your internet connection can access your bitcoin wallet.
Mobile wallets are applications that run on your smartphone. They help you to store your bitcoins and also help you to send and receive them. Mobile wallets are convenient to carry around because they allow you to transact instantly. However, mobile wallets are more prone to theft. If you lose your phone, you will lose all your bitcoins stored in your mobile wallet.
Web wallets are websites that help you to store your bitcoins. Unlike desktop wallets and mobile wallets, web wallets do not allow you to send and receive bitcoins directly. Instead, they give you the option of sending and receiving bitcoins through your bank account. You can set up a bitcoin wallet at Coinbase.com, Blockchain.info and Bitpay.com. These websites store your bitcoins and allow you to send and receive them through their platform.
You can buy bitcoin with your debit card, credit card, PayPal account, wire transfer, or cash. One way to buy bitcoin is to visit a bitcoin ATM. There are many bitcoin ATMs in the United States, Canada, Australia, New Zealand, Europe, Asia and Africa.