The world continues to evolve and even the transaction methods have already changed and made a major impact in the market community. As technology improves and further develops, more innovations start including the concept of money.
Today, several people are already into the concept of cryptocurrencies and everything that revolves around this topic. Even though cryptocurrencies have been a hot topic for so long, there are still some parts that seem complicated and complex for some, especially those who want to start with Bitcoin.
That being said, we made this brief guide to tell you everything that you need to know about Bitcoin in the language of a beginner in the field, and how you can earn them through the help of Flexepin.
What is Cryptocurrency
Basically, cryptocurrency is a type of digital money that is used by several people today in various transactions that they encounter from day to day. Contrary to what some people think about its security, cryptocurrency (or crypto) uses cryptography which is a system that allows only one person to access something to guarantee the security and eligibility of something. With that kind of security, it can be easily said that it is a safe way of obtaining and saving your digital money.
As mentioned, this is a type of digital money used to purchase and pay without the need to bring physical money with the user. Compared to other digital finances, cryptocurrencies do not use banks.
Currently, there are already several types of cryptocurrencies that exist in the market, but here are some of the most popular ones: Bitcoin, Ethereum, Litecoin, and Ripple.
How to Earn Bitcoin
Today, Bitcoin, also known as BTC, is one of the top and one of the most popular cryptocurrencies in this field. Just like other cryptocurrencies known, this can also be used in various transactions in different markets.
But the real question here is how to earn Bitcoin. Mining is a very popular word when it comes to cryptocurrency. It is the process that allows the system to produce or generate new coins that can be used in new transactions.
In earning bitcoin, there are three steps that you would like to learn. Here is how you can earn them on your own.
1: Picking the Perfect Platform for You
Before you can start mining, the first thing that you have to consider is having the ideal platform for you to use. You can choose between the traditional brokers or the cryptocurrency exchanges.
The traditional brokers are those merchants that you can see from the internet who both buy and sell cryptocurrency. If you choose this option, you can avail lower trading costs but there will be fewer crypto features that you can access. In fact, one way to do this is by buying cheap Flexepin vouchers. On the other hand, going for cryptocurrency exchanges allows you to avail different offers such as wallet storage, interest-bearing account options, and different types of cryptocurrencies.
One thing you should also consider in choosing a platform is the fee they charge as well as the overall security of the site.
2: Loading Money to Account
Once you have already chosen a platform that you would like to use, the next thing you have to do is to fund your account.
Usually, people buy cryptocurrencies using fiat or official and government-released currencies such as the US Dollar and British Pound through the use of credit cards or debit cards. However, funding your account through a credit card is not recommended by most because of how risky it is. This is the same reason why some credit card companies do not support crypto transactions.
Instead, you can use ACH transfers and wire transfers on some platforms. However, the methods and time needed to load the amount on your account might be different from one another.
3: Placing the Order
Placing an order can be done either from the web or mobile. You can access the broker or the exchange web and look for the Buy option, then select the order type including the amount that you would like to avail.
What to Buy with Bitcoin
Ever since Bitcoin was launched and started, the initial plan was to make it a type of currency that you can actually use to buy simple goods that you need from your day-to-day life and even the most expensive and luxurious items. However, this has not materialized yet.
Here are some of the things you can actually buy today using your Bitcoins, most especially if you have Flexepin gift card vouchers with you:
- Some technology sites such as Microsoft. Shopify, and Rakuten
- Luxurious brands such as Rolex, Patek, and Philippe also support this kind of transaction
- Some luxury car dealers accept cryptocurrency payments
- Insurance agencies including AXA and Premier Shield Insurance have already announced that their company already support this type of transaction for premium payments
Other than this, you can also learn more from this site and some of the things where you can spend your Flexepin vouchers instead.
