Bitcoin Exchanges

In Lesson 8, we explored the world of mining and the process of adding and confirming transaction records to the blockchain. This process is also how new bitcoins are created. You learned that mining is a resource-intensive process and how nowadays it is mostly done by specialized mining computers in large data centers.

In Lesson 9 you will learn:

  • More about bitcoin exchanges and the importance of finding one that suits your needs


Bitcoin Mining

In Lesson 7, you learned that there are over 100,000 merchants out there who accept bitcoin as payment and how to find them. You learned how to sign up for a bitcoin debit card to use bitcoin as payment in just about any store that accepts regular credit cards. You also learned about best practices and how to avoid fraud when spending your bitcoin.

Today, you will learn that mining is the process of adding and confirming transaction records to the blockchain. This process is also how new bitcoins are created. You will learn that mining is a resource-intensive process…


How to Spend Bitcoins?

  • Many merchants accept bitcoin as payment

Where to Spend Bitcoin

Spending bitcoin is very similar to spending traditional money. However, since bitcoin is not yet universally accepted, you just need to select stores that accept it. Luckily, there are a bunch of them! Recent figures show that the number of retailers accepting bitcoin has now surpassed the 100,000 mark. As more countries continue to recognize bitcoin as a legitimate form of payment, these figures will continue to rise. The best…


How to buy Bitcoin?

  • Bitcoin is sold and purchased much like other currencies through exchanges using a credit card, bank wire, Paypal, etc.

Buying Bitcoin and How Exchanges Work

Bitcoin can be bought and sold from various sources, online and offline, like any other currency. You can purchase BTC online directly with a credit card, or use an exchange or brokerage service that will enable you to buy bitcoin via a bank transfer. Some applications also offer buying and selling bitcoin with PayPal and other online payment processors. …

Alexandr Kim

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