Wednesday, June 23, 2021

Buying Digital Money… in Real Life?

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Lokesh Jaral
Being an enthusiast who likes to spend time binge-watching TV shows and movies and following the hype in the media and entertainment world. Exploring the field of technology and entertainment, I am here to share the varied experiences on this blog.

Cryptocurrencies are virtual money made possible through cryptography. Ride the money train well into the years to come by investing in and buying cryptocurrencies! 

Before anything else, what is cryptocurrency? You may have heard of ‘Bitcoin’ mentioned in conversations and if you think that’s virtual money, then you are correct. 

Cryptocurrencies are basically money created through cryptography and blockchain technologies—a sort of ledger distributed among lots of computers. They are intangible and untraceable, unlike FIAT money that is distributed by the government.

What is Bitcoin?

Bitcoin is a type of crypto coin. In fact, it’s the most popular and valuable type of virtual money in the market. Bitcoins paved the way for this industry when it was introduced back in 2009 by Satoshi Nakamoto. Another type is TRX, which was launched last June 2018 by tech entrepreneur Justin Sun.

Both Bitcoin and TRX—which can be used in Bitcasino—have a market price of over 100 million USD, so investing on these cryptocurrencies while they’re still on the rise can be a smart move. Who knows? In 5 or 10 years time, even 1 Bitcoin or TRX can make you a millionaire with its current popularity.

Can You Buy Cryptocurrency in Real Life?

The most common option for buying Bitcoin or other crypto coins personally are through exchanges. Although, did you know that you can actually buy cryptocurrency in real life? Yes, as in person-to-person or through ATMs.

You can buy Bitcoins personally through a direct seller—the fastest anonymous way of transaction. You can also do so through Bitcoin ATMs or bank deposits. It all depends on the payment method both you and the seller agree on. 

If you’re worried about the legitimacy of Bitcoins you’re being sold, it will be better to look for online sources and feedbacks. Lucky for you, some websites allow you to verify payment methods and communicate with the seller before actually buying.

Should You Buy Bitcoins Personally?

There’s no harm in learning how to buy cryptocurrency from exchanges or transacting in real life before finally settling on what you like better. If you do decide on buying Bitcoin personally, here’s a friendly suggestion:

Read up on the crypto coins you’re looking to invest in before actually buying it. Make sure that you have a ‘wallet’ to put them in so that you can just sit back, relax and watch it grow in market value over the years.

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