Bitcoin – some basic information, Part Two

However, criticism is on the rise against Bitcoin over the years and the currency has often been referred to as fictitious and inflated. The value of the currency has also varied enormously and there is no doubt that it is an unstable and risky investment. 

If you have a desire to try Bitcoin, you need to obtain a “wallet”. This can be set up on your own PC or through a service that will enable you to sell or receive Bitcoins.

If you are selling something and want to be paid in Bitcoins – there is a special address that buyer will use to transfer the funds. This transfer will take only 10 minutes and this is one of the main benefits of Bitcoin.

When buying Bitcoins you need a Bitcoin exchange. Then you can both sell and buy Bitcoins with other users and this can be done by means of bank transfer or even credit card payment. Then you send Bitcoins directly to your wallet and can therefore commence the operation.