Cryptocurrency has quickly attained popularity in recent years. Bergen County Investors and consumers have bought up cryptocurrency as an alternative to stock markets and standard currencies.
Of thousands of cryptocurrencies available, Bitcoin is typically viewed as the most desirable cryptocurrency to acquire. At one time in 2017, this “King of Cryptocurrencies” was more valuable than Gold.
Still, Bitcoin (and cryptocurrency in general) are a dilemma to most. What is it? How is it used? How can people access Bitcoin? What are its pluses? Where in Bergen County can I find it?
These responses to queries about Bitcoin and cryptocurrency hopefully provide a clearer sense of this relatively new technology.
Bitcoin is a decentralized digital currency, meaning it can be used worldwide and changed from currency of almost any nation. Sometimes called “digital Gold,” its value changes daily, similar to other currencies. Instead of being stored in traditional Bergen County savings institutions, though, Bitcoin is kept in a secured online account – a “crypto wallet” – only controlled by its owner, and ready for use whenever desired.
Many Bitcoin sales are consummated via online exchanges, with credit or debit cards.
Many people purchase Bitcoin with cash at secure Bitcoin ATMs. The U.S. has more than 4,000. If you’re in Bergen County, just click here to find a nearby cheap Bitcoin ATM.
These protected Bitcoin ATMs process protected transactions using verification codes sent to a cell phone. The Bitcoin value, equal to the deposited cash, is deposited in an electronic wallet within minutes.
in excess of 12,000 businesses worldwide accept Bitcoin as payment. The roster includes many well-recognized 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 policies or private spending controls. Because no third-party Bergen County financial organizations are involved, all Bitcoin interactions are entirely between two parties, protected in a cloak of anonymity. Bitcoin can be sent immediately for a minor 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 secure Bitcoin ATM companies in the world.
Bitcoin is perfect for those who plan to avoid banks, and plan to avoid the expense of wiring funds between institutions. Investors desiring to diversify their portfolios use Bitcoin as a hedge against the stock market.
You could have further questions about Bitcoin. Additional research is helpful.
Or, if you just want to give Bitcoin a try, visit a local Bitcoin ATM near Bergen 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 find it’s the best money you ever spent.
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