What you need to know about Bitcoin and scams

Perhaps, you’ve heard people talk about Bitcoin, and you don’t know much about it. Well, you’re not the only one. Before investing or using Bitcoin, take your time to learn about it.

Essentially, find out what makes Bitcoin different from fiat money and why not all retailers accept Bitcoin as a payment method.

What is Bitcoin?

Bitcoin refers to a virtual currency. That means this currency exists electronically and not available in physical form. However, people use it to pay for services online. What’s more, you can use a platform like the Bitcoin Era to purchase and sell Bitcoin. Thus, you can sell your Bitcoin to get fiat money.

People exchange Bitcoin with other users online using a computer or phone. Essentially, Bitcoin transactions do not involve intermediaries like banks. Although Bitcoin is the most know cryptocurrency, other digital currencies like Ether exist.