Nearly everyone has heard of the cryptocurrency Bitcoin. It has been in the news over and over again, so even those who don’t typically keep up with digital currency are aware that Bitcoin exists. If you are a little bit stumped about what Bitcoin is all about and want to learn a bit more, this short article will give you all the pertinent information. You’ll be ready to head to the closest Bitcoin ATM in Milwaukee, WI, and make a purchase of your own.
What Is Bitcoin?
Bitcoin is a type of digital currency that allows users to make anonymous payments on the Internet. The transactions are validated using a massive network of computers, rather than a government or banks. This makes it a decentralized form of currency, which many hail as being privacy-friendly when compared to corporate banking of today. All of the transactions made with Bitcoin are encrypted and tracked using mining, which saves the data onto a record known as a block chain.
What Can Bitcoin Be Used For?
When Bitcoin was first designed, it was meant to offer a way for strangers to transfer money without the requirement of a third-party to ensure validity. This basically means you can pay someone or be paid by someone without providing any details about your identity. However, companies from Expedia to Microsoft are now accepting Bitcoin as it becomes a mainstream currency option.
How Do I Get Bitcoin of My Own?
The first thing you will need to do is get a Bitcoin wallet. This allows others to send you Bitcoin. This is similar to your checking account but without all the identifying information about you attached to it. You can sign up for a wallet in minutes using no more than an email address, which is required for the verification link. Wallets can be online, offline, paper, or hardware.
Where Do I Get Bitcoin?
One of the easiest options for purchasing Bitcoin is by using a Bitcoin ATM in Milwaukee, WI. Once you have a wallet, you can look up the nearest ATM and make a purchase. The perk of this is that the ATM system is very similar to the traditional ATMs that you use to move money to and from your bank account. These is also the option of using an online Bitcoin exchange site for purchase of Bitcoin.
Finding a Nearby Bitcoin ATM
At RockItCoin, we’re working to make purchasing and selling Bitcoin easier. You can find a map of nearby ATMs in Milwaukee in your area by visiting their website.
