Do you know what the bitcoinsThese virtual currencies are increasingly gaining ground in the market, and many companies are accepting this form of payment.
Furthermore, the bitcoins, like other cryptocurrencies, are easier to buy and sell, and can be considered safer than cash.
So, check out now what they are bitcoins, how it works, how to obtain these virtual currencies, their real value, which companies accept this type of payment and whether it is really worth investing in these currencies.
What are Bitcoins?
To the Bitcoins they are virtual currencies that do not necessarily need banks and financial companies to circulate. Also known as cryptocurrencies of the virtual world and have existed for about eleven years.
These coins were created in 2009 by the company Blockchain, which came from an idea of a group of developers led by Satoshi Nakamoto.
This way, internet users can earn or even buy this virtual currency through financial transactions with other users or even with a technology that allows you to “mine” these coins on the network, below we will explain in more detail how it all works.
Furthermore, unlike other currencies such as the real, dollar and euro that are currently in circulation, the Bitcoin It is only accepted online or in physical stores that accept this type of currency as payment.
But those who believe that Bitcoin was the only currency created, this is because in 1980, David Chaum wrote an article called “Blind Signatures for Untraceable Payments” which proposed a currency that used encryption and could circulate freely over the internet without needing large companies to manage it.
This article inspired several programmers of that time who began to create studies on cryptocurrencies. Furthermore, in addition to the Bitcoin there are other currencies that are known as Altcoins, like the Ethereum, Cash, Ripple and Litecoin.
Currently, there is a wide variety of virtual currencies that also originated from Bitcoin and which has the value according to the platform on which they are used.
How do Bitcoins work?
Basically, the bitcoins They work like this: you can transfer this virtual money to anyone on the internet without needing third parties or an intermediary, such as banks.
To the bitcoins They are based on an encryption system and allow users to make transactions anonymously, meaning they do not need to go through any regulations, such as from companies and financial institutions or even governments.
Furthermore, the entire process is negotiated directly with the company's network. Blockchain which works like a database and is passed on to the person who will receive the coins.
This way, every transaction made using bitcoins must go through Blockchain. Furthermore, there are ways to mine these coins on the internet where it is possible to use computers to obtain blocks of bitcoins.
However, the number of coins is limited, according to the Blockchain it is only possible to produce about 21 million bitcoins until the year 2140, when the currency will possibly stop being produced.
What is the value of Bitcoins?
Another factor that attracts many is that the bitcoins, Although they are virtual money, they can be exchanged for a sum of real money. For example, currently a currency Bitcoin can be worth around R$ 273,792.87 (real), US$ 48,119.10 (dollar) and €40,365.35 (euro).
But to exchange this amount you need to negotiate with other users, as there are websites where you can exchange money for bitcoins and vice versa.
Additionally, there are fees charged for converting this amount, for example, there are banks that accept bitcoins and charge fees between 0.50% and 0.70%.
How to get Bitcoins?
Currently, there are three ways to achieve bitcoins or any other cryptocurrencies. First, you can accept this currency as a form of payment if you have a business.
Alternatively, you can buy from an online user, but for this second option, you need to understand the subject better to avoid being scammed. Therefore, before buying cryptocurrency, talk to someone with experience in the field.
The third option is for those who already have experience in this, as it is necessary to do some mining. bitcoins. Currently, there are specific types of computers that are for mining these coins.
When the Bitcoin was launched, many users used video cards to mine these virtual currencies, resulting in a high demand for this type of equipment. Therefore, over the years, specialized machines were created to perform this process without harming other technology companies.
However, some data according to the website Foxbit show that mining bitcoins In Brazil it is not very viable, as you need to keep the computer always on and this can result in high costs for electricity and internet usage.
How to buy and sell Bitcoins?
As we mentioned earlier, to buy bitcoins You need to accept these cryptocurrencies as a form of payment, buy from users, or mine bitcoin blocks.
However, it's necessary to have some experience in this type of transaction to avoid scams and potential fraud. Therefore, look for trustworthy sites that have users who sell this type of transaction. virtual currency.
The company Foxbit has partnerships with websites where there are ways to buy and sell bitcoins securely. Simply register, search for potential buyers, and negotiate.
Where are Bitcoins accepted?
To the bitcoins It is only accepted online, but there are some companies that also have physical stores and can accept payments via encryption.
Check below some stores and applications that accept the bitcoins as a form of payment for online purchases. These companies include restaurant chains, technology companies, NGOs, government agencies, and others.
- Microsoft
- PayPal
- Subway
- Twitch
- UNICEF
- KFC
- WordPress
These companies generally accept bitcoins in other countries, such as restaurant chains KFC and Subway They only accept this form of payment in North American establishments.
In the case of companies like Microsoft, bitcoin is accepted in virtual stores such as for electronic games Xbox and on the platform WordPress, the customer can use this currency to purchase plugins and templates for website creation.
Bitcoins: Advantages and Disadvantages
Advantages
One of the main advantages is that the bitcoins they do not need third parties to circulate, that is, they can be passed on to other users without the need for banks and financial institutions.
Furthermore, another advantage is that these cryptocurrencies No fees are charged during financial transactions, unlike banks where transfer fees are usually charged when transferring money.
Another advantage is that the bitcoins They can be a great way to invest money because they're easy to buy. Simply register on a website where there are sellers, and then you can sell these coins for higher prices, as they're always in high demand.
Disadvantages
One of the disadvantages is that the bitcoins can be targets of fraud, since a large part of the population still does not have the necessary knowledge for this type of financial transaction.
Additionally, there are many websites with fake sellers and buyers of this virtual currency and can end up scamming inexperienced users. Therefore, before you start buying Bitcoins, do some research on the subject to avoid any problems.
Are Bitcoins safe? Is it worth investing?
According to data from the website Foxbit, these virtual currencies are safer than money itself, because unlike traditional banks, it is possible for your money to be devalued or even for a hacker to access the bank's data and withdraw a large amount from your account.
To the bitcoins they will hardly go through this, because it is a secure technology and it is necessary to access thousands of computer networks to be able to access the system developed by Blockchain.
Furthermore, it is worth investing, because as the internet grows, these cryptocurrencies are increasingly valued in the market and companies are beginning to accept this form of payment.