What is bitcoin you ask? It’s basically internet money. You can use it to buy products and services online or to trade and convert them to your currency.
Thousands of online services accept bitcoin as an alternative mode of payment. It has been such a hot commodity since its release in 2009 that 1 unit of it right now costs $1507 (updated as of 5/4/2017). Another unit of bitcoin is called a satoshi which is the smallest amount within bitcoin. It is 0.00000001 or one hundred millionth of a bitcoin – like cents in $US or centavos in PhP. To put it in perspective, 50 US cents right now is around 0.00032856 satoshi. What makes it so appealing other than its current value is that no one owns it. All transactions are secure and recorded in a public ledger called the block chain for everyone to see, and your transactions are made with no middle men so there are no banking or transaction fees. Check out the video below:
Bitcoin, Where Art Thou?
There are numerous sites where you can buy and trade them and satoshi. If you want to start accumulating some every hour for free, Click Me! Just enter your digital wallet (bitcoin address) to collect your bitcoins and satoshi. If you don’t have one yet, check out localbitcoins.com and Coins.ph if you’re in the Philippines.
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