Created in 2009 by an unknown person only alias Satoshi Nakamoto, bitcoin is a virtual currency that is used in online transactions. Unlike other ordinary currencies bitcoins can never be counterfeited or change value like ordinary currencies. While using the virtual currency there is no transaction cost and can be used to send and receive any amount of cash from anyone and from anywhere in the world. While transacting using the virtual currency, payments cannot be blocked and neither can bitcoin wallets be frozen, further more in order for a transaction to occur there is no need to use real names.
Where and How I can buy Bitcoin?
Buying of bit coin is also done virtually. In order to buy bitcoins you have to sign up at coin base, this gives you a secure online portal to store the bitcoins and making it easy to convert local currency into and out of bitcoins. The next step is to sync the coin base with your bank account. Once the bank account is synchronized to coin base you are allowed to buy or convert bit coin to preferred currency. The price of bit coins does change from time to time.
How can I Buy Bitcoin instantly using Cash or Card ?
In order to buy bitcoins with your debit or credit card you will have to open up a coin base account and navigate to the top right corner and click on your name. You will see a stop down menu where you click on the settings then on payment method on the menu. Click on the debit or credit card option,then enter the required information.
Coin base only accepts visa or master card at this moment. After the card and coin base are synchronized you just go to the buy page and enter the amount you want to buy then click buy instantly to buy bit coins.
How can I Buy Bitcoin Using PayPal ?
You can also buy bitcoins using PayPal. This can be made possible by first creating a free account on virwox.com. Once you have logged into your virwox account click on the deposit link on the left side of the screen. Select pay pal on the deposit option and put the amount of cash you would like to deposit to the virwox account.
You will be directed to the PayPal login menu where you can log in and make the deposit. Once the deposit is done using a secure PayPal account, you will be redirected back to the virwax website. Once the cash is deposited to virwox you will have to convert the dollars to SLL(second life linden Dollars). Which will allow you to buy bitcoins then you can withdraw to the bit coin wallet.