Over the last decades, bitcoin as well as cryptocurrency exchange has become familiar to users all over the world. In fact, BIKI Exchange is a global cryptocurrency exchange ranked Top 20 on CoinMarketCap. Besides, via our Biki.com website, we offer users several rewards and advantages in terms of: bitcoin trading, bitcoin mining, bitcoin converter, litecoin, ethereum price, bitcoin price USD, cointracking, coinbase earn, worldcoinindex with other competitive bitcoin cash price. In this article, BiKi Exchange’d like to provide readers 4 essential things about bitcoin that people need to understand before setting off with cryptocurrency exchange!
1. What is bitcoin?
Simply, bitcoin is understood as a main part of a system that enables payment to be sent among users without passing through a central authority such as banks or payment gateways.
Bitcoins aren’t printed, like dollars or euros but produced by computers and using free software as a means of exchange, that could be transferred electronically in a secure, verifiable and immutable way.
2. How can I buy bitcoin?
Obviously, you have learned basic information about bitcoin, now it is the time for you to buy some. But how?
Therefore, let’s BiKi explain more for you.
People can buy or trade bitcoin on exchanges, or directly from other people via marketplaces.
Therefore, you can pay for bitcoin in several ways, ranging from hard cash to credit or debit to wire transfers. This depends on whom you are buying bitcoin from and where you live.
In the first step,
You need to set up a wallet to store your bitcoin- whatever your preferred method of purchase. For example, this could be an online, desktop, mobile or an offline one.
In the second step,
- For buying online, you need to open an account at an exchange
- For buying with cash, you need to choose a purchase method
3. How to store Bitcoin?
Before owning any bitcoin, you need somewhere to store them. “Wallet” is the name for this place. Actually, a wallet usually holds several private keys, and many investors have several wallets.
Wallets can either live on your computer and/or mobile device, on a physical storage gadget, or even on a piece of paper. Here we’ll briefly look at the different types.
- Electronic wallets: can be downloaded software, or hosted in the cloud.
- Software wallet: can be installed directly on your computer.
- Online wallets: comes with desktop and mobile apps.
- Mobile wallets: are available as apps for your smartphone, especially useful if you want to pay for something in bitcoin in a shop, or if you are on the move.
- Hardware wallets: small devices that occasionally connect to the web to enact bitcoin transactions.
- Paper wallets: pieces of paper on which the private and public keys of a bitcoin address are printed.
4. How to sell Bitcoin?
All exchanges allow you to sell as well as buy. Type of exchange you sell your bitcoin will depend on what type of holder you are: small investor, institutional holder or trader?
Retail clients can sell bitcoin at exchanges such as Coinbase, Kraken, Bitstamp, Poloniex, etc.
Another alternative is the direct sale. You can register as a seller on platforms such as LocalBitcoins or BitBargain, and interested parties will contact you if they like your price.
You can, if you wish, exchange your bitcoin for other crypto assets rather than for cash
Or, you can sell directly to friends and family once they have a bitcoin wallet set up
In conclusion, BiKi Exchange takes pride of itself in bringing about basic information about cryptocurrency exchange for readers. Besides, BiKi also supplies competitive advantages with special programs and plans to global users in trading and transactions relating to: bitcoin, stablecoin, dogecoin, ethereum, cryptocurrency, coinbase earn, zcash, wallet registration and various prices.