Before we start, read this first!
Digital or virtual currency is an electronic medium of exchange that is not a representation of U.S. or foreign currency. Cryptocurrency is a type of digital currency that utilizes cryptography to secure transactions that are digitally recorded on a distributed ledger, such as a blockchain. According to the IRS: “Units of cryptocurrency are generally referred to as coins or tokens. Distributed ledger technology uses independent digital systems to record, share, and synchronize transactions, the details of which are recorded in multiple places at the same time with no central data store or administration functionality.” Invest in bitcoin now Patrick McGimpsey is a freelance writer passionate about crypto and its impact on the financial world. Currently working as the content lead for Australian startup CryptoTaxCalculator, Patrick has also covered the crypto industry for Canstar and The Chainsaw. Patrick has over seven years of experience in the crypto space and has previously shared his knowledge with the AML and fraud departments of Australian financial Institutions.
Investing into bitcoin
Bitcoin is a cryptocurrency that’s encountered some wild swings in its price since it was first introduced in 2009. It’s been a roller coaster ride, especially in the last few years, and many traders have plunged into bitcoins, with some having made millions, while others have suffered great losses. What can you buy with Bitcoin? You can buy Bitcoin online through a crypto exchange. But with so many exchanges, it can be difficult to pick the right one. We’ve rounded up the best exchanges to buy BTC so you can easily compare:
What is the best day of the week to trade Bitcoin?
The earliest crypto exchanges operated in a de facto “wild west” — with risk, and without regulation. Things to think about before buying Bitcoin You can now invest with zero deposit or withdrawal fees on all payment options, including credit cards.