Bitcoin is listed as the first cryptocurrency in the world. Its appearance dates back to 2009, when a group of anonymous developers brought it to light. What at first seemed like an innocent computer game was transformed into a new way of looking at money. Currently there are conflicting opinions about its future, although many take it as a good investment instrument. Below is a manual for using Bitcoin in 2022.

What is Bitcoin

To understand Bitcoin you have to analyze its why. It all started in 2009, when a group of developers designed this cryptocurrency to “compete” with traditional money. Among the disadvantages offered by the latter are taxes, transaction fees, waiting days to receive an amount, international limits and insecurity. However, this project wanted to solve all these limitations by offering decentralization.

By this term we understand that Bitcoin transactions are not limited by borders or amounts. In addition, they are secure, since their encrypted system within the blockchain works like a large accounting book that cannot be deleted. Transactions are made at record speed and money can be sent from one pole of the planet to another. All these advantages made Bitcoin become a popular cryptocurrency and ushered in a new era for money.

Manual to use Bitcoin in 2022

One of the first things to keep in mind is that anyone can use Bitcoin. Unlike services such as Zelle, PayPal or Venmo, the person does not need to be registered with a banking institution. Bitcoin offers decentralization and therefore, many governments are trying to ban it. Its goal is simple: to be a form of decentralized digital money that allows person-to-person transactions within the web.

One of Bitcoin’s innovations was the so-called blockchain. This is where computers connected to the web validate transactions made by others. In this way greater security is provided in all movements despite its anonymous and decentralized character. Anyone can be part of the blockchain and their transactions will be recorded within this large ledger without being able to be deleted.

When using Bitcoin you will need to create an account within their network. In this one you will be given a very long password, called “secret key”, which is practically impossible to guess. Using it you will be able to access the amount of currencies you have available and make transactions to any part of the world. You will also have a public version of this password, which will be used in a certain part of the transaction. Avoid confusing the two, as the security of your funds depends on this.

What to consider when using Bitcoin

Only 21 million Bitcoin can be found today. This is digital money that cannot be inflated or manipulated by any banking or government entity. That is why its value has grown exponentially. It should be noted that a single Bitcoin is worth more than $30,000 currently, although there is nothing to worry about if you do not have all this money. The cryptocurrency can be divided up to 0.000 000 01 and this is called “Satoshi”.

Bitcoin and the future of cryptocurrencies

Unlike FIAT money, Bitcoin has a fixed amount, which makes it more valuable. In addition, this blockchain operates through an open source, which makes it transparent. Similarly, it is almost impossible to hack into the Bitcoin network, as this would require virtually impossible amounts of energy.

The fact that anyone can connect to the Bitcoin network means that there is no censorship or discrimination when it comes to making transactions. It is important to know:

• How to buy Bitcoin?

  To do this you need to have an account. The most recommended house is Coinbase, although there are others such as eToro or Binance. There you can exchange FIAT currencies for Bitcoin or other existing cryptocurrencies.

• What is the current value of Bitcoin?

  For a few days there has been a decline in its value. Currently each Bitcoin is worth $ 35,912.49.

• Can Bitcoin be used to buy in real life?

  Yes, more and more products and services are available that can be purchased with Bitcoin. In fact, you can buy plane tickets, hamburgers, pairs of shoes and other objects in European and Asian countries. Argentina is also one of the Latin American countries that is leading the way in this matter.

• Are there Bitcoin ATMs?

  Yeah, but they’re mostly online platforms. In specific places you can find specialized ATMs, but remember that Bitcoin does not have a physical support.

• What is the best Bitcoin wallet?

  One of the best wallets to keep your Bitcoins safe is the Trezor and the Ledger. Here you can have your coins inside an electronic device as if it were a high security pend drive. There are also other paper wallets that have the private key, or casascius coins. Everything will depend on your needs.

Bitcoin’s future in 2022 still looks uncertain. For a few days there has been a decline in the value of cryptocurrencies, which has triggered diverse opinions. In addition, some countries have imposed laws regarding the use of these currencies, which is making them “not so decentralized”. It is important to take this means of investment wisely and not to place all the eggs in the same basket.