How to send, receive, sell or buy bitcoin from anywhere

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  • WHAT IS BITCOIN?

Bitcoin is one of the crytocurrencies (electronic cash).
Cryptosystem without doubt is the cheapest, fastest, safest and easiest means of transacting today.
Billions of dollars have been invested into cryptosystem because of it's unbeatable advantages.
Easy movement of coins (crytocurrencies) from one wallet to another has greatly influenced many to embrace cashless policy.
Except for one major risk which is the inability to reverse coins sent or view where the coins are coming from, Crytocurrency has broken the ban or embargo placed on money transfer between some countries.
There are lots of crytocurrencies today. To mention a few are Bitcoin, Ethereum, Litecoin, Ripple, etc.
The entire cryptosystem is wide but I streamlined my writeup to bitcoin only.
Now, before you can transact in bitcoin, you must have a wallet and wallet address which represent account and account number in the banking system.
An example of wallet address is 34H1HYhbTE5DmG1hRvwdeicyYjYY23ZiDt.
The beauty of bitcoin is that it is a recognized currency on its own which has its exchange rate in the world's currencies and changes invariably from time to time. This means, one can buy bitcoin today and once the exchange rate increases, sell it to make profit. That's risky though. Someone may ask, "What if the rate goes down?". Yes, it may, and that is why business is all about risk!


  • SENDING AND RECEIVING BITCOIN

There are lots of bitcoin service providers which if you register with them, will generate for you a bitcoin wallet address within five minutes or less and make you ready to transact. Fortunately, you can buy bitcoin from them also or preferably from your trusted friends and within few minutes after transfer, it will reflect in your wallet. Although transfer speed depends on the amount charged or you put for mining of your transaction details among millions of transactions going on that second. This is where mining comes in. Since bitcoin has to do with cryptography (involving codes, numbers and computer data) whose process is carried out by some software and miners, if you pay standard charge, it will reflect soon enough in your receiver's wallet. The larger the coins, the longer it takes but usually under thirty minutes.
Your service provider should notify you when coins roll in but you can also check through Blockonomics.


  • BUYING YOUR BITCOIN

You do not have to buy a whole bitcoin which as at the time of publishing of this post worth $3,951, you can buy bitcoin in bits and your balance will look like this 0.0027894 BTC. That is the beauty of computer currency.
Shopping sites are accepting bitcoin as means of receiving payments today. Scammers too are working hard to defraud the gullible and greedy with double-your-money schemes, lotteries, investment schemes, buy-and-sell scheme etc. So be careful!

  • SELLING YOUR BITCOIN

I know of many platforms who buy bitcoin and pay directly into bank account almost immediately or under one hour. I recommend:



Finally, you do not have to worry about sending money to your family and friends due to money transfer hassles such as embargo, long process, provision of documents, eavesdropping and hijacking, etc.
I encourage you to embrace cryptosystem today!

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