What You Can Buy Using Cryptocurrency
On Todays BitQuest Minute we will talk about What you can buy using Cryptocurrency. In Japan, bitcoin is widely accepted as payment, as it is regulated as a currency and can be used for buying practically anything. In North America roughly 100,000 merchants accept bitcoin payments, including brand-names like Microsoft and Expedia. Some high-end car dealers and jewelry stores are accepting Bitcoin. You can buy money-value gift cards via Gyft. Several hotels and restaurants in Las Vegas accept bitcoin. Even the owner of the Dallas Mavericks basketball team began accepting bitcoin for future season ticket purchases. There is even a Burger King in the Netherlands and a bar in Australia that let you pay with bitcoin.
What is Blockchain Used For
On Todays BitQuest Minute we will talk about What blockchain is used for. Blockchain is the underlying technology that allows Bitcoin and cryptocurrencies to exist. The blockchain can be compared to an accounting ledger that is digital and viewable by anyone. However, the blockchain revolution extends beyond currency. Using blockchain ensures that no data can ever be altered. The contents of each transaction can describe an asset like the Deed of Trust to your house, the copyright to a piece of music, the origin of a diamond, or any other valuable item or idea. As bitcoin was the first ‘thing’ to ever be recorded using blockchain technology, Bitcoin and Blockchain are commonly thought of together.
How To Buy Bitcoin
Here are 4 main ways to buy bitcoin… Most people buy and trade existing bitcoins of a from a Stockmarket like exchange, you simply register for an account, validate your personal information and you can receive your bitcoin from sites like coinbase or Bitcoin Outlet. A 2nd option is to earn or to mine bitcoin by directly mining it. This requires the use of either GPU, FPGA or Asic equipment as well as software to solve complicated mathematical equations to earn block rewards that contain bitcoin. You can run this equipment yourself of have a trusted company host your equipment for you. A third way is to buy with cash from a local broker or a bitcoin atm machine. A forth and most recent way to purchase bitcoin is through bitcoin futures. These are standard contracts to buy or sell a pre determined quantity of bitcoin at a set price on a set date in the future.