What is Bitcoin? and how to buy and sell Bitcoin and store it?

What is Bitcoin? The father of all cryptocurrencies is bitcoin. The official date of the appearance of this cryptocurrency is January 3, 2009, just after the major financial crisis. It was this crisis that showed the vulnerability of the banking systеm and the fact that any of the banks could close and go bankrupt. After these events, bitcoin appeared in the arena. Exchange Bitcoin for rubles He became a possible answer to some of the questions after the crisis. Information about the wallet owner was encrypted, and information about payment transactions could not be overwritten. An independent financial systеm has been created that belongs to all users at once. Complete anonymity when making payments, the inability of any person or group to control the situation on the network. Blockchain technology is used for the smooth operation of bitcoin. It records all information about wallets and transactions in blocks that form an endless chain in blocks. New coins appear by solving complex mathematical problems and only computers can handle them. The systеm is complicated at first glance, but in fact it is quite transparent and understandable. The cryptocurrency is not controlled by the state, it is decentralized and will exist as long as there is at least one computer that stores information about transactions and records new ones. The price is formed solely by supply and demand. How to store Bitcoin? Before you buy bitcoin, you need to decide on the way to store it. This issue is relevant due to the fact that there is no technical support service, the user assumes all the risks and securing their funds becomes the first task. There are three most common storage methods. bitcoin wallet bitcoin wallet 1. Desktop wallet for Bitcoin. The method is safe, but not so simple and convenient. The principle of operation of this wallet can be traced to the entire principle of operation of the cryptocurrency. You will need a personal computer and an SSD disk, it will be possible to write files for your wallet to it, if the disk is slower, then files will be downloaded for many years and it‘s not about the speed of the Internet. The entire transaction history of a particular cryptocurrency is downloaded to yandex.Disk. On the website bitcoin.org you need to sеlect the “resources” section at the top and download Bitcoin Core, this is one of the very first and voluminous wallets. There are others on the same site that you can view and see their differences in security, ease of use, and so on. To install the wallet on the computer, sеlect the path to the SSD disk. It starts downloading literally all transactions with bitcoin that have occurred in its history and on the current download day. The volume is simply huge and weighs about 1000 GB, in order not to take up so much space on the computer, you need to sеlect the recording cycle in the settings and set 4 GB. Thus, the systеm will record every new gigabyte on top of the old ones. You will be able to use the wallet when all transactions are uploaded before the current date. Then it can be found in the wallet.dat folder. The wallet immediately has an address where you can accept and send currency from it. The file itself is a wallet, it can be transferred to a USB drive, another computer, and wherever it is opened, the account will remain the same. This leads to the issue of wallet security. It is necessary to set a password that will be known only to the user, it is not recommended to post it on the Internet, the password must consist of at least 20 characters in different languages, in different case and with special characters. 2. Online wallets for Bitcoin. The method is convenient and fast, but not as safe as the first one. After all, in the first case, the user solely owns the assets and manages them himself. In the case of an online wallet, the account is owned by the service, and the user only manages it. If the service is hacked, then there will be nowhere to turn later, this is a condition of the cryptocurrency. All storage services are provided by an online wallet, and a transaction fee is charged for this. You only need to register on the service that gives you the wallet address. It is recommended to use such wallets to store small amounts and quick transactions, it is dangerous to store large amounts on it. Exchanges for cryptocurrencies work by analogy, after registering on it, the user is provided with an online wallet, the risks are the same. To view the list of exchanges, you can enter this query on the Internet and view the list, as well as view current reviews. 3. Hardware wallet for Bitcoin. Convenient, secure, but not free. It requires the purchase of a physical storage medium for all online wallet data. It costs around 7 thousand rubles. But the whole process of downloading a desktop wallet to a computer is already implemented in it. The user only sets the PIN code. Upon activation, a special key is generated and it is not recommended to post it on the Internet. The hardware wallet has double protection – no transaction from the wallet will take place without presenting the carrier, entering the PIN code and key. You will need to download the computer application that it supports and use it as an online wallet. All assets are stored on a physical medium. If it is lost, then a new media is simply purchased and activated with a key that is securely stored by the user. How to buy Bitcoin? After the user has decided on the storage method, it is possible to exchange traditional currency for cryptocurrency. The exchange takes place between users and it is necessary to find a platform that inspires the trust of such a user. For a long time, the most popular method has been the website BestChange.ru . It first selects the currency to be exchanged. In the left column, you need to sеlect the currency you want to give, and in the right, which you want to receive. After that, you will see a list of available exchangers, among which you need to choose the most suitable one in terms of the number of positive reviews. Our Bitcoin to Ruble exchanger – TREDDR.org – has been cooperating with the BestChange monitoring systеm for many years and has impeccable reviews and ratings. treddr bitcoin exchanger Exchangers can request a bank card number (you cannot show the CVV code) or a passport, the main thing here is to carefully read the terms of each exchanger. The second most popular method is the LocalBitcoins service. This is a platform similar to the first method, where the buyer is looking for a seller. There is a secure transaction function here, where the platform freezes funds until the buyer and seller confirm the transaction. With any chosen method, it is necessary to take into account the risks and understand that the principle of cryptocurrencies is similar to investments and does not provide guaranteed income – it all depends on the fluctuations in the exchange rate.