Bitcoin

Holly McDonald Internet Marketing is now accepting Bitcoin as a method of payment.

Currently, $1 Bitcoin is equivalent to over $1,700 USD! This is a type of digital currency that uses encryption techniques to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.

Odd fact: Bitcoin was created in 2009, by a person using the alias Satoshi Nakamoto. 

Why Bitcoin?

Bitcoins can be used internationally and its cheap and easy, because the currency is not tied to any country subject to regulation, and there’s no credit card fees.

How do you acquire Bitcoin?

You can buy Bitcoin on an exchange called a “bitcoin exchange.”

Transfer

People can send Bitcoins to each other using their phones or computers. Amazon.com even gives an incentive to use this currency with a 20% discount for those who purchase items with it.

Mining

Individuals compete to mine Bitcoins to solve complex math problems. This is how Bitcoins are created. A winner is rewarded with $25 Bitcoins every 10 minutes.

Digital Wallet 

Your digital wallet is where Bitcoins are stored on a cloud or on your computer. Servers have been hacked and you can accidentally delete a wallet stored on your computer or it can be destroyed by a virus.

The Future?

We’ll see… currently, governments are concerned about taxation and the lack of control.

Personally, I keep a digital account on a cloud with an added layer of protection. Want to start your own Bitcoin account? Learn more here https://www.bitcoin.com .

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