Bitcoin is available in almost all exchanges on the market, but it can also be purchased through a Bitcoin ATM or on Peer-to-Peer portals where it is traded with users’ own offers. The options that we have available to buy Bitcoin are very varied: Cash, bank transfers, credit cards, and balance on online payment platforms such as PayPal and many other options. However, before we can buy a Bitcoin, we need to have a wallet where we can store these digital currencies.
On the one hand, we can see that online wallets are susceptible to hacks by computer criminals, being able to compromise our funds at any time. But these wallets allow us to access our funds from wherever we are. On the other hand, hardware wallets are much more difficult to hack and this implies that our funds are more secure within these wallets. However, if this hardware is damaged or lost, we would lose all the funds we had stored here. There are also mobile wallets, which are very simplified and are very convenient for users who do not know as much about Blockchain technology but still want to use cryptocurrencies;
And of course we can also get Bitcoin if we participate as miners within their Blockchain network. However, it must be said that in order to participate as a miner at the moment we need a lot of computing power and this implies that we need specialized computers for it. These machines are somewhat expensive and also consume a considerable amount of energy resources, which means that Bitcoin mining is not available to everyone.
Pros of Bitcoin
Freedom: In the guarded world we have today, freedom is presented as an invaluable asset. We cannot say that we are free from the controls and surveillance of government authorities if we have hundreds of taxes and limitations to use our money freely. You can earn money via cryptoengine.app/login.html.
Bitcoin is not tied to these controls and offers us a freedom that no other asset can give us. In addition to being able to use our money freely, with Bitcoin we are not controlled by the restrictive monetary policies that states issue, nor should we worry about inflation or interest rates generated by government entities.
Choose your own commission: Another benefit of the Bitcoin network is the option to choose a transaction fee amount or not pay at all. When a new block with a successful hash is generated, the miner receives a transaction fee. The commission is completely voluntary and serves as an inducement for miners to make sure that definite deals are rapidly included in the new blocks that are create.
This incentive also serves as a source of income for miners, and generally yields more money than traditional mining, especially given that bitcoin production limits are likely to cause a complete halt in the future. A higher commission speeds up processing, but if the commission is determined to be lower, the transaction takes longer.
Without PCI: PCI refers to the payment card industry, meaning debit, prepaid credit, e-wallet, ATM, POS and affiliates. It is including of all association that store, process, and convey cardholder data and is regulated by strict safety and manage standards.
Uniform rules and regulations may be appropriate for large companies, but may not take into account the needs of each individual. Using Bitcoin eliminates the need to comply with PCI regulations. By not being regulated by this organization, users get lower commissions, reduced administrative expenses and the opportunity to expand their markets.
Security and Control: No one can control Bitcoin transactions for us, which means that no one can withdraw money from our account unless they have our authorization to do so. All of our funds are safe within the Bitcoin Blockchain network and no one can steal or touch them.
Furthermore, our identity and personal information is kept totally secure in these spaces since we do not need to reveal any type of information in order to use Bitcoin within its Blockchain network. What we will have to do with our personal information is go through an identity verification process required by exchanges and different portals where Bitcoin is bought and sold by FIAT currency.
Transparent and neutral: All dealings in the Bitcoin blockchain are always available to everyone on the blockchain and can be established and used in real time. This means that humans and organizations cannot control or operate freely. Because the network is decentralized, no one has complete control. This entire means that Bitcoin always remains neutral, transparent and predictable.