The BitCoin boom is real, and you are not the first person to click on this article hoping to learn more. In this quick article, we will talk about ways you can get in on this currency right from your own computer.
What Is BitCoin?
BitCoin can be traced back to 2009. The creator, whose identity is listed as Satoshi Nakamoto, implemented it as open source code. The first Bitcoin transaction was by Hal Finney, who got ten Bitcoins the day the software was released.
The first commercial Bitcoin transaction later took place in 2010, where two Papa John’s pizzas were purchased. In the coming years, Bitcoin shot up in price, and nowadays exchanges for this and other cryptocurrencies exist, which make use of the blockchain (ledger system) to keep track of bitcoin transactions.
Now we will talk about ways to get your hands on this cryptocurrency.
The BitCoin Lotto
If you are a lotto fan and you want to have some fun, try out the BitCoin Lotto. You can play for a jackpot that is all in BitCoin. You match up 6 numbers and work for a huge jackpot.
The jackpot starts at 1000 BTC, and as of this writing, is worth over 17 million dollars. It will go directly into your BTC wallet, or you can have the cash equivalent. Note that all dollar amounts are in CAD.
It is very easy to play and you can start by clicking here. You can even do a QuickPick if you are not sure what numbers you want. The experts at the site take care of all the technicalities, so your job is just to relax, play responsibly, and hopefully win the jackpot!
Using computer processing power, you can mine bitcoin. Mining bitcoin involves record keeping via the blockchain. You must keep the blockchain unalterable and complete by always grouping together new transactions into a block.
These transactions are shown to the network and verified by nodes. On each block, there will be a SHA-256 hash from the block that came before it, thereby providing a link to that block and giving a name to the blockchain.
Winning It /The Exchanges
Some casinos and websites offer bitcoin as a prize payout. Check your favorite online casino for more info. A Bitcoin may be offered as a prize, some apps offer Bitcoin as prizes such as the game Free Bitcoin Cash.
Exchanges are another way to get your hand on some cryptocurrency. You can buy them right over your computer or smartphone and keep watch over their value.
The exchanges are specific to your country, so be sure to go to bitcoin.org and review where to buy in your country. This is a good place to go for beginners.
Read up on Bitcoin before you get started. It is unlike any currency you have ever used before, and you need to understand the risks involved. It’s a lot of fun to play for, and there is much to learn, but a little research will go a long way for your investment.