Advertisement
2 of 5
How do I get a bitcoin?
How do I get a bitcoin?
Max Pixel

There will be a finite number of bitcoins in existence – 21 million – as a result of the bitcoin generation algorithm.

To create them, bitcoins have to be mined, which means they have to be verified and added to the public ledger.

This process involves using computers to solve a tough math puzzle in order to release new bitcoins.

For us regular folks, we can simply buy bitcoins using cash, credit card or bank transfer through sellers such as Coinbase, Circle or Bitstamp.

You can also buy a subunit in case the cost of a whole bitcoin is too prohibitive.

A millibitcoin is 1/1000 of a bitcoin; a microbitcoin is 1/1,000,000 of a bitcoin and a satoshi is 1/100,000,000 of a bitcoin. After buying a coin, you store it in a bitcoin wallet, which is a secure storage service.

You must create a strong password and guard your information well.

You can also use bitcoin banks to store your currency for you.

Never miss a deal again - sign up now!

Connect with us: