Bitcoin is the most traded digital asset that is on the top list of crypto rankings. Being the leading digital asset, Bitcoin “guides” the whole market trend. For example, when in spring 2022, the BTC price dropped, it caused a chain reaction, pulling other crypto asset prices down. The BTC USDT crypto pair is traded at 19.162 in mid-October 2022.
Blockchain is the basis for digital assets. It provides:
- maximum safety for transactions;
- impossibility of deleting or undoing operations in the network;
- transparency for all transactions;
- security and reliability of transactions.
What is Blockchain?
In simple terms, blockchain is a journal with certain information. Data is synchronised across multiple computers that communicate with each other through a peer-to-peer network.
Devices create a network between themselves with nodes that become their participants. It is impossible to delete actions from such a blockchain, and all network users are anonymous.
The safety of data, security and anonymity are the key advantages of this technology. To create a blockchain, experts use languages such as Ruby, C ++, JavaScript and Python, but not every programmer can handle them. The specificity of the blockchain is that its creation requires not only knowledge of the programming language but also knowledge of cryptography and the principles of operation of dApps (decentralised applications).
Buying Bitcoins with Dollars
Many large crypto exchanges allow using real money for purchasing digital assets. The BTC USD pair is available on WhiteBIT, Coinbase and many other exchanges. Important to note that only centralised crypto platforms allow this option. Registered and verified users can attach their bank cards to a crypto platform and move funds to their accounts. In a similar way, they can swap BTC to USD and withdraw money to their cards in a matter of minutes.
It’s possible to buy and sell cryptocurrencies through many online exchanges. These exchanges allow users to buy cryptocurrencies with fiat currency, much how a stock exchange allows users to buy stocks with fiat currencies. These crypto exchanges can also store your cryptocurrencies with them. It’s important to choose a safe and reliable crypto exchange so that your money and your crypto assets are stored securely.