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Bitcoin A Cyber Currency

Updated on December 17, 2013

An open-source cryptographic protocol

Suddenly everybody is talking about it. Bitcoin - the digital currency. I have heard it from TV and the net, from newspapers and friends. So what is BITCOIN? I found that it is an invisible kind of coins that was invented 2008 by Satoshi Nakamoto (probably an alias). who called it a peer-to-peer, electronic cash system. It has grown and more and more of us are purchasing these secret (?) coins.

I descided to look further into it. Not risking too much of my money.

I found a site and bought some Bitcoins, Up until today the currency has dropped one third. I can see this in two ways: Lucky I did not buy much and NOW is time to buy more!


First you must find a Bitcoin reseller - a mine

There are quite many sites that offer Bitcoin purchase and eventually sells.

I chose Safello since that site has it all in my language.

They take bankgiro or credit card orders from our customers and look for the best available market price. Then they purchase the bitcoins on your behalf from the 3rd party exchange or our own orderbook and deliver them to your designated bitcoin address instantly.

The bitcoin adress must be a Wallet. Setup a wallet to get a bitcoin address for free.

Register as a customer via the website you choose

Buy your bitcoins with your VISA card or in some cases PayPal and it will show up in your wallet.

A STRONG RECOMENDATION: Save the code to the Bitcoins either on a USB or print it out! (Yes, you can actually do that)


You can use your Bitcoins to purchase things

Many of the mines where you purchase your Bitcoins have a list of companies where you can use Bitcoins to pay.

Some larger cities also have ATM machines too.

Electronics, Gadgets and Data are there. Here is a really good link to a BBC News Article about Bitcoins and how it works.

Read and learn about Bitcoin

Bitcoin Exposed: Today's Complete Guide to Tomorrow's Currency
Bitcoin Exposed: Today's Complete Guide to Tomorrow's Currency

Bitcoin has exploded into the mainstream and is being covered in every notable new source with commentary almost everyday.


You may make money


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    • irenemaria profile image

      irenemaria 3 years ago from Sweden

      I always used a old fashioned debitcard. The bitcoins I bought was only to see what happens to the value. As for today they have dropped into one third of the sum I paid =(

    • aviannovice profile image

      Deb Hirt 3 years ago from Stillwater, OK

      Wouldn't it be easier to deal with good old fashioned debit/credit cards, or is the sole purpose the investment aspect, getting more for hopefully, less? Please clarify, as I think I am following you on this.