Bitcoin is recognized as a peer to peer, decentralized digital currency system which is designed for providing the online users the capability to process transactions through a digital unit of exchange viewed as Bitcoins. It is also known as virtual currency. This currency system was developed in 2009 through an unidentified programmer or programmers. From that time, it has garnered huge attention plus controversy in the form of a substitute for Euros, US dollars and even to the currencies, like silver and gold. However, bitcoins hadn’t got much attention in finance and business prior to the year 2009. They rose to fame during the year 2011-2012 when it managed to gain over 300%.
Again, bitcoin witnessed a 400% growth in its worth from August 2013. Due to this, investors, as well as venture capital firms all across the world, continued to give importance to this cryptocurrency. Because of its glorious fame, a bitcoin casino too became highly popular with countless people all around the globe. During the initial period of 2014, the venture capital firms spent $57 million in this cryptocurrency and it was followed by $73 million during the second quarter, thus, amounting to a sum total of $130 million. This happened to be 50% greater compared to a total of $88 million in 2013.
The popularity of bitcoins
People prefer to use a bitcoin because of its enormous benefits over other types of currencies. For instance, a person can send bitcoins to another person as a mode of payment minus having to visit a bank middleman. It turns as a faster medium of sending money through transfer or a bank wire. You can send these cryptocurrencies to someone and additionally, have them receiving them in some moments’ time only. So, it doesn’t come as a surprise that numerous people are attempting to buy bitcoins for the very first time. Nonetheless, it is not so easy like going to a bank and withdrawing them.
Again, it is not like you are visiting a store and spending some of your hard-earned cash in exchange for bitcoin. This system works pretty differently from these methods. For using the bitcoins, you can go through the Bitcoin Buying Guide and there, you will get to know some things prior to your buying safely and securely. The first thing that you must know is while the cost might be more than $2000/coin; you do not require buying a whole bitcoin. The majority of the places will allow you to purchase parts of a bitcoin even for $20. Hence, you can begin off with small and escalate from there when you become comfortable with the working of the things.
Places to buy bitcoin
There are many places to buy bitcoins from and each one is different from one another. So, when you wish to play in a bitcoin casino and buy bitcoins then you will come across many online sellers who will sell them directly for a credit card, bank wire or cash. Again, there are exchanges where a person can buy as well as sell bitcoins similar to stock markets. In fact, there are local exchanges too that would link you with the sellers who are on a lookout to sell.