FAQ
What does Bitmax Professional Corporate Development Co.,Ltd. do?
We are ICO advisors and blockchain consulting partners to many successful Initial Coin Offerings. We know how to tokenize your business.
What is an ICO?
ICO stands for “Initial Coin Offering” and it is a means of raising capital through a crowdfunding campaign with the use of crypto-assets as investment. A digital asset, the coin or the token, is issued for a purpose and are sold to raise money for the said purpose. After the ICO process is completed, the coins are traded on crypto-exchanges. Pricing is determined by market supply and demand.
What is Bitcoin?
Bitcoin’s inventor, Satoshi Nakamoto, outlined what Bitcoin is in the original 2009 Bitcoin whitepaper – a document which created the roadmap and social contract for Bitcoin. To date, this is still the most simple and accurate description of what Bitcoin is. Bitcoin which is also known as ‘digital cash’, the first ‘cryptocurrency’, an international payment network, and ‘the internet of money’ – whatever you want to call it – Bitcoin is a revolution that is changing the way people think about and use money. On August 1, 2017, Bitcoin split when there was a permanent fork divergence in the blockchain, thereby creating two blockchains: Bitcoin Core (BTC) and Bitcoin Cash (BCH). Bitcoin Cash is the upgraded newer version of Bitcoin which preserves the fast, decentralized, inexpensive qualities of Bitcoin network transactions.
What is Bitcoin Mining?
Bitcoin mining is the processing of transactions on a Bitcoin network and securing them into the blockchain. Each set of transactions that are processed is a block. The block is secured by the miners. Miners do this by creating a hash that is created from the transactions in the block. This cryptographic hash is then added to the block. The next block of transactions will look to the previous block’s hash to verify it is legitimate. Then your miner will attempt to create a new block that contains current transactions and new hash before anyone else’s miner can do so.
How to Buy Bitcoin Online?
So, you heard about Bitcoin Core (BTC) from a friend or maybe from a news post. You may have even read some of our articles on how to get started using Bitcoin Core. Now, you want to buy some BTC but you are not sure how to actually do it?

 

Once you have downloaded a bitcoin wallet, all that remains is to actually purchase your first Bitcoins. Read on to see just how easy it is to buy Bitcoin with either a credit card or with funds directly from your bank account.

(Update: Bitcoin Core is less usable as money due to much higher fees and delayed transaction times. The Core team has also expressed an interest in keeping these fees high since they view BTC as a “store-of-value” and not something to be transacted on a daily basis. In contrast, Bitcoin Cash’s transaction fees cost pennies and payments can be validated even with zero confirmations. These facts make BCH the ideal cryptocurrency for sending and receiving money anywhere in the world.)
Two Different Ways to Buy Bitcoin Core on Bitcoin.com

Basically, there are two ways to buy Bitcoin Core online: the fast way and the cheaper way. The fastest way to buy BTC is with a credit card. This process takes only a few minutes but there are fees. A cheaper, though considerably more involved method is to purchase Bitcoin on an exchange. Keep reading for a step-by-step guide to both of these methods.

How to Buy Bitcoin Using a Credit Card

Bitcoin.com has partnered with Simplex to make it easy to buy Bitcoin Core using a credit card. Follow these steps to securely complete your purchase:
Step 1: Input your Bitcoin address and select a desired purchase amount

Visit the buy Bitcoin page. Enter the amount of BTC you wish to purchase. Then, specify to which Bitcoin address your purchased Bitcoins will be sent. To do this, open your Bitcoin Wallet, copy your Bitcoin address and paste the address into the “Bitcoin address” field. The Bitcoin you purchase will be sent to this address. Remember, you can always download a Bitcoin wallet for free.
Step 2: Input Billing Info

Once you have inputted your Bitcoin Core address and chosen a purchase amount, click the button to continue. From here you will be directed to Simplex’s checkout form. Simply follow the steps, input your information, and voila! Your purchased Bitcoins will be sent to your Bitcoin Wallet address. This may take anywhere from ten minutes to more than one hour. It’s incredibly easy to purchase Bitcoin Core online with a credit card. It’s also fast and secure! Next up, how to buy Bitcoin on an exchange.

How to Buy Bitcoin on an Exchange

A bitcoin exchange is an online marketplace where users can buy and sell Bitcoins after setting up an account on the exchange. You will need to choose an exchange based on your country of residence and desired purchase currency. Also, be sure to read about how to choose the right Bitcoin exchange based on your specific needs. Here’s a basic run-down of how to buy Bitcoin on an exchange:

Step 1: Choose Exchange

Choose an exchange by entering your country of residence and then selecting from our list of approved exchanges.

Step 2: Setup Account

Setup an account on the exchange. Depending on the exchange, various forms of identification may be needed.

Step 3: Connect Bank

Connect one or more bank accounts to your exchange account. Any buys or sells you make will be deducted from or deposited to the chosen bank account.

Step 4: Select Amount to Purchase

Once you have created an account on your chosen exchange and added a bank account, ‘navigate’ to the exchange’s Buy ‘feature’.Select an amount of BTC to purchase, enter your bitcoin address, confirm purchase, and wait for the purchased Bitcoin to reach your wallet.

Buying Bitcoin is a Breeze!

Deciding to buy BTC using a credit card or on an exchange will depend on how quickly you want to complete the transaction, what fees you are willing to pay, and also how willing you are to register with an exchange (which may or may not require verifying bank details or your identity before making the purchase). Regardless, Bitcoin.com has the tools you need to make your dreams of owning Bitcoin a reality. Once you acquire some Bitcoin Core, be sure to follow the price or take advantage of some our cool Bitcoin tools.

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