Bitcoin, also described as cryptocurrency is a virtual or digital currency. Basically, a type of money that is completely virtual. It is among the safest money transaction there is as it records all transactions in a public list, blockchain, which manages the history of bitcoins to stop people from spending what they do not own.
You can use bitcoin to buy products and services. However, some shops and countries do not use bitcoin, mainly in banned regions.
How to get bitcoins
You can get bitcoins through:
- Buying using ‘real’ money
- Creating bitcoins using your computer
- Selling products and allowing people to pay in bitcoins
Sending and receiving bitcoins is fast and easy. For instance:
- Go to your Bitcoin.com wallet app
- Select Send
- Copy and paste the recipient’s wallet address into your wallet app. If they are available, select the Scan QR Code and scan it in your app
- Select the account you need to send Bitcoin from. Consider using the BCH wallet for Bitcoin Cash and BCH wallet if you prefer sending Bitcoin
- Enter the amount you want to send and click on Next
- Ensure the details you provided are correct then slide to Send
- If you wish to send money between your wallets, click on Transfer Between wallets and send
- Click on your Bitcoin.com wallet app
- Click on Receive
- Choose the Bitcoin wallet you want to receive from. Ensure you select a BCH wallet when receiving Bitcoin cash and a BTC wallet for receiving Bitcoin
- Your selected wallet will generate an address that will enable you to receive coins. Copy it by tapping on the QR Code if on desktop or phone.
- Provide the address of the person sending you bitcoin or the cryptocurrency exchange. If they are in person, scan the sender’s wallet QR Code with their device.