Bitcoin or digital currency is the latest way of using the money. The Bitcoin software was first conceptualized in the year 2009 by a still unconfirmed person. It is believed that the man behind it is Satoshi Nakamoto, but the man is not confirming if he is indeed the founder of the Bitcoin software. The reason for his denial is still unknown.
There are many ways on how and where to buy Bitcoins. There are speculations or wild guesses as to the real gender of the Bitcoin software founder. There are those who believe that the person is a male, while others think it is a female. On the other hand, there are also those who speculate that a founder is a group of persons or even the government.
Satoshi Nakamoto could just be a pseudo name and it could stand for central intelligence. This is because Satoshi means clear thinking, Naka means inside and moto means origin or foundation. Put the three together and it comes up as short for central intelligence.
The Bitcoins, just like ordinary money, can be used for purchases. There are many ways as to how and where to buy Bitcoins. The Bitcoin software is a peer-to-peer decentralized system of transferring funds from one user to the other. By decentralized, it means that it is not regulated by the government. There is no Central Bank that regulates it.
The Bitcoin software is basically run by the Bitcoin users themselves. It is considered as a triple entry booking system where the third party acts as a bridge between the sender and the receiver. If you want to find out as to how and where to buy Bitcoin, there are Bitcoin directories online that can guide a user about the establishments that accept Bitcoins. It also has a list of those who want to learn how and where to buy Bitcoins.
In some countries like the United Kingdom, there is now an ATM machine that can dispense Bitcoins. The Bitcoin version of an ATM machine is called BTM. A person who has a Bitcoin wallet knows how and where to buy Bitcoins. If you want to buy Bitcoins via the said machine, the procedure can be pretty simple.
The Bitcoin buyer who is in search of information on how and where to buy Bitcoins can just insert a currency and follow the instructions on the computer monitor. He then presses as to how much Bitcoins he wishes to purchase and in an instant; he already has added some Bitcoins in his Bitcoin wallet.
These ATM machines can allow Bitcoin users to deposit and withdraw Bitcoins after scanning a government-issued identification card. This is done in order to protect the Bitcoin users from fraud and to deter any potentially illegal activities such as terrorist funding. The advantage of buying Bitcoins in BTM’S is a fast service. However, if the Bitcoins being withdrawn are in huge amount, the BTM companies spread the withdrawal of Bitcoins.