What is Bitcoin, and why do you need it?

In this modern age, technology is constantly racing ahead, changing everything from the way we shop to the way we communicate. Now, even how we spend and handle money is in the process of changing with the emergence of bitcoin. In this new age of cryptocurrency, as exciting and innovative as it is, it can be difficult to wrap your head around at first. While understanding bitcoin can be initially confusing, it is absolutely worth learning all about, so you can make the most of this amazing new enterprise and place yourself firmly at the forefront of technology. In this short guide, you will learn some of the basics of bitcoin, including what it is, the advantages of it, and how you can use it.

What is Bitcoin?

The first thing to establish is exactly what bitcoin is. Bitcoin is a form of cryptocurrency, which means it is a new type of money that exists entirely online and functions as a decentralized, peer-to-peer system, cutting out banks as the middlemen. It is an exciting alternative to physical money and may very well be the future of all transactions, so it is worth getting clued up early.

All pros, no cons

There are loads of advantages of paying with bitcoin that make this particular cryptocurrency somewhat more appealing than using traditional money or credit. For example, bitcoin cannot be interfered with by governments or banks meaning those who are using bitcoin experience greater financial freedom. Along with this, you have low transaction fees, near complete anonymity, and no sales tax on purchases; the list goes on and on of the benefits you will experience when using bitcoin.

A smart investment

Deciding to invest in bitcoin is a big step, and you don’t want to leap into the unknown in such a venture. However, once you have all your information together, you will be able to make a smart investment in this growing industry. The value of bitcoin is ever increasing as proven by the teenage bitcoin millionaire who used the increased value of bitcoin to build up his wealth and now, before the age of twenty, is a self-made millionaire. Of course, not everyone will have quite this much luck with the system, but with some research and tact, you could be seeing a nice return on your investment very soon.

Having fun

Of course, bitcoin isn’t just about serious financial matters; it has a fun side too. At websites such as, you can use your bitcoin’s to place bets and play fun games like poker. The advantage to playing these games is that bitcoin gambling is much safer than playing with your paper money, with easily accessible information about how, for example, each hand of cards you are given are completely random and, thus, completely fair.

Investing in bitcoin may be one of the best things you ever do as, with the value of the cryptocurrency set to continue rising in the future, you can make some serious money from this brilliant, space-age innovation.