Digital money is taking over the world. Not too long ago we were paying each other with cash and checks. Today, salaries are directly deposited into bank accounts, groceries are purchased with debit cards, and major business transactions are taken care of online. In recent years, a new digital currency has been created for the purpose of transferring 100% verifiable funds from one account to another. The unit of currency is called a Bitcoin.
A Bitcoin is a digital currency unit created by the community. It uses a complex cryptographic language to enable users to make money transfers absolutely safe. Because of the way they are set up, there can only ever be 21 million bit coins in circulation at any one time. Billionaires might find them disappointing, but for the rest of the world, they could be useful.
One of the benefits of buying Bitcoins is that they are less expensive to purchase than your traditional precious metals. The Bitcoin itself holds monetary value that you don’t need to trade into the bank to use. It can be kept or sold, but it has an inherent value that people recognize.
There are sites that sell products for Bitcoins. To get an idea of how much a bit coin is worth, consider the following selling prices of popular products: a pair of Klipsch Noise Canceling Headphones is selling for about 13 BTC (Bitcoins). A half-pound of Walnut Fudge is worth 1.009 BTC. A copy of Harry Potter and The Goblet of Fire is available for 2.5 BTC.
Bitcoins have been gaining in steady popularity since 2009. They are available to anyone who wants to get involved. If you don’t trust them quite yet, but still want to transfer money, consider looking into a Western Union Money Transfer.