Getting your first Bitcoin

Introduction:

 Bitcoin is a form of digital money ecosystem which is collection of concepts and technologies. Bitcoin is a currency which supplies and transfer value to participants. Users of Bitcoin communicate to each other using protocol of Bitcoin primarily via the internet; it is open source software which can be run on wide range of computing devices such as laptops, smartphones which makes technology easily accessible.

Users can sell , purchase, exchange Bitcoin  for  other  currency as specialized currency exchanges , Bitcoin is treated as perfect form of money for internet because it is fast , reliable ,undetermined.

History of Bitcoin:

  • Bitcoin invented in 2008 with publication of paper titled Bitcoin. As we know it is an electronic cash system written by alias Satosi Nakamoto.
  • Bitcoin network started in 2009 published by Nakamoto and revised by many other programmers
  • Bitcoin total market value is roughly calculated between 5 billion and 10 billion US dollar depending on the billion to dollar exchange rate.
  • People behind the bitcoin or identity of person are unknown.

bitcoins

Getting your first Bitcoins:

As it is known well known fact for the users of Bitcoin that it is not feasible to purchase bitcoins at a bank or foreign exchange booth at this time. There are number of currency exchange where you can buy and sell in exchange for a local currency, few of them are:

Bistamp:

 European currency market that hold up many currencies including euros and US dollars through wire transfer.

Coinbase:

It is US based Bitcoin wallet and platform  broker and customer can transact in Bitcoin , coinbase also makes it easy to buy and sell Bitcoin where users can connect to US checking accounts through ACH system.

Bitcoin Charts:

This chart shows the market rate of Bitcoin covering many exchanges around the globe in different local currencies.

Therefore Bitcoin is a result of 20 years of research which represents entirely a new platform to build upon , where one can enable an ecosystem as a wide an diverse as the Internet itself.