All Your Questions About Bitcoin Answered

If you are reading this now, you’ve heard of Bitcoin at the very least. That is no surprise because this particular cryptocurrency has blown up in the media this year due to substantial market pricing. However, you may not know everything else you could about Bitcoin ATM locations in Philadelphia. That’s okay, it’s not something everyone is well-versed in. Today, we’ll look at a few of the most common questions and offer up some answers for you.

What Is a Bitcoin?

A Bitcoin is a type of cryptocurrency, which means instead of being a physical coin, it’s an electronic currency. Bitcoin is based on what is called the block chain, where transactions are logged in strings of blocks. If you want to boil it down into the simplest terms, it’s sort of like cash but for the Internet.

How Do You Get Bitcoin?

There are numerous places to purchase Bitcoin. You can visit a list of Bitcoin ATM locations for Philadelphia and get Bitcoin in a physical space. You can visit an online exchange market and purchase it over the Internet. These are probably the two most common options to concern yourself with.

Are There Other Cryptocurrencies?

Sure! There are actually thousands of different cryptocurrencies out there. Each of them is slightly different, but Bitcoin is still the largest, most used, and most well-known on the market.

How Many Bitcoins Are There?

Right now, there are just less than 17,000,000 Bitcoin circulating. However, there is also a cap. There is no way for there to ever be more than 21,000,000 Bitcoin. Once those Bitcoin are made and circulated, there are no more.

What Can You Purchase with Bitcoins?

There are tons of items for sale using Bitcoin from ATM locations in Philadelphia. Online you can buy all sorts of home goods, electronics, video games, and more from companies such as Microsoft, Expedia, Overstock.com, Newegg, and more. There are even a few dozen restaurants that take Bitcoin as payment.

Who Created Bitcoin to Begin With?

This one is a mystery. Nobody actually knows. The creator or creators are known as “Satoshi Makamoto” but nobody knows who this actually is. Several people have claimed to be this person but there is no proof. We may never know.

Where Should I Get Bitcoin?

If you are in Philadelphia, you may want to visit RockItCoin to see the ATM locations in your city. You can drive up and make a purchase in a few minutes. To learn more or see the map of ATMs in Philadelphia, you can visit their website.

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