Bitcoin - Photo by André François McKenzie

What Is Bitcoin and How Do You Buy It?

You’ve probably heard at least something about Bitcoin, the world’s best known digital currency, and a brilliant way to quickly, efficiently buy fake ID without snarling your bank details up in the process.

What is Bitcoin?

Bitcoin is a digital currency, or Cryptocurrency. There are others, like Litecoin, Dogecoin, Basic Attention Token and more. Bitcoin can be sent digitally from an online wallet a bit like Apple Pay or Android Pay on your smartphone. The main difference is, Bitcoin doesn’t need a bank account to work. You don’t need to give out your details when you pay with Bitcoin. This makes it safer, and more secure when buying things online. You should always take your security seriously online, particularly your financial security. It’s also worth noting that the value of Bitcoin can be very volatile, so it’s a basket you may not wish to put all your eggs in at one time.

Bitcoin is one of the most secure ways to buy and sell online – but only if you do it right.

How Can You Buy Bitcoin?

You can buy Bitcoin in the way that you would buy any other currency. You’ll need to use a currency exchange like Local Bitcoins, Coinbase or Paxful. If you want to buy larger amounts of Bitcoins – say, more than $2,000 worth – then you’ll save money by using a trading exchange: You can use any of these services to convert US dollars into Bitcoin. You’ll also find private individuals selling Bitcoin – be sure that you take particular care if you go down this road, but by no means are all such sellers scammers.

You can also earn Bitcoin if you can find a company that pays in them. And there’s a Bitcoin version of eBay called OpenBazaar, where you can sell your surplus possessions for Bitcoin, with no usage fees unlike eBay or Craigslist.

Where Can You Keep Bitcoin?

You can leave your Bitcoin balance in the account of the exchange from which you bought them. There are risks to this, however, including theft by hacking.

Bitcoin Wallet - Photo by David Shares
Bitcoin wallets will keep your cryptocurrency safe and secure.

Most users store their Bitcoins in a wallet. That’s a good name, because Bitcoin is very much like cash, in that it doesn’t need to be converted or paid on by anyone, it’s yours. It’s also true that you need safe access to your wallet to use your Bitcoins.

Wallets can be found in the form of apps for mobile devices (examples include Airbitz and Jaxx Liberty). There are online web wallets, like Blockchain. Hardware wallets are probably the most secure way for general users to secure their Bitchains – Trezor and Ledger are examples. You can also store in paper wallets, which are secure, but not very convenient, or advanced wallets, for which you’d really need some coding skills.

How Do You Spend Bitcoin?

In your wallet you’ll need to set up an address. This is a unique identifier that works like a cash-carrying email address. An address looks a bit like this: 1BvBMSEYstWetqTFn5Au4m4GFg7xJaNVN2. You can check out how to get a Bitcoin address in detail at Coinbase here. Any address you make will be yours to keep, and you can generate as many addresses as you like.

Holding Bitcoin - Photo by André François McKenzie
Bitcoin can be a worthy investment as part of a wider strategy.

Do not send all your money from the exchange on which you bought it in one go, just in case you make a mistake with the address. Instead, try sending a small amount to confirm that the money has safely been transferred. If it is, you’ve got a Bitcoin account ready to go!

Bitcoin is an investment to some, a convenient way of spending online for others, and a way to deal anonymously online for others.

It’s also a safe, convenient way to purchase fake ID. If you have $100 worth of Bitcoin, what are you waiting for? Check out our shop here.