It’s hard to deny that Bitcoin is revolutionizing the way we use money as well as how our concept of currency should work.

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Bitcoin serves as a decentralized currency exchange that enables payments to be sent between users without passing through a central intermediary authority such as a bank or payment gateway. This system is utilized electronically (rather than ordinary printed currency) and produced by computers worldwide using free software.

 

Bitcoin is the first example of what is referred to today as cryptocurrencies, a growing asset class that shares some characteristics of traditional currencies with verification based on cryptography.

 

If you wish to further educate yourself on more in-depth information on Bitcoin for the purpose of this process, a quick Google search provides several helpful resources. To begin, you must understand that your first action in this process is to convert your local fiat currency into Bitcoin.