Cryptocurrency has rapidly attained popularity in recent years. Montgomery County Investors and consumers have flocked to cryptocurrency as an option to stock markets and traditional currencies.
Of thousands of cryptocurrencies out there, Bitcoin is typically viewed as the top cryptocurrency to purchase. At one point in 2017, this “King of Cryptocurrencies” was more valuable than Gold.
Still, Bitcoin (and cryptocurrency in general) are a secret to most. What is it? How is it used? How can people purchase Bitcoin? What are its benefits? Where in Montgomery County can I find it?
These answers to questions about Bitcoin and cryptocurrency hopefully give a better understanding of this relatively new technology.
Bitcoin is a decentralized digital currency, meaning it can be utilized universally and converted from currency of almost any nation. Sometimes called “digital Gold,” its value floats daily, similar to other currencies. Instead of being maintained in conventional Montgomery County savings institutions, though, Bitcoin is held in a secured online account – a “crypto wallet” – only used by its owner, and ready for use whenever required.
Many Bitcoin purchases are made via online exchanges, with credit or debit cards.
Many people access Bitcoin with cash at protected Bitcoin ATMs. The U.S. has in excess of 4,000. If you’re in Montgomery County, just click here to find a nearby local Bitcoin ATM.
These trusted Bitcoin ATMs process protected transactions using verification codes delivered to a cell phone. The Bitcoin value, equivalent to the deposited cash, is deposited in an electronic wallet within minutes.
More than 12,000 businesses worldwide accept Bitcoin as payment. The roster includes many recognizable brands such as Amazon, Barnes & Noble, Home Depot, AT&T, Microsoft, Expedia, Subway, PayPal, Overstock, Shopify and Dish Network.
Use of Bitcoin is completely free of government controls or private spending constraints. Because no third-party Montgomery County financial institutions are involved, all Bitcoin interactions are solely between two parties, shielded in a mask of anonymity. Bitcoin can be sent immediately for a very small charge.
Coinsource Bitcoin ATMs have one of the greatest levels of compliance in the industry, backed by more than 30 money transmitter licenses. Coinsource is one of the most trusted Bitcoin ATM companies in the world.
Bitcoin is well-suited for those who plan to avoid banks, and want to avoid the expense of wiring funds between institutions. Investors planning to diversify their portfolios use Bitcoin as a hedge against the stock market.
You could have many more questions about Bitcoin. added research is advisable.
Or, if you just hope to give Bitcoin a try, patronize a local Bitcoin ATM near Montgomery County and invest some cash from your standard wallet. Open your new crypto wallet online, see the cryptocurrency it holds, and go shopping. You might realize it’s the best money you ever spent.
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