So you have been hearing all this jazz about some internet money called bitcoin. But feel unless your some internet geek or financial guru, you might feel a little in the dark on this whole new world order of money. But dont be affraid, bitcoin was created with the intentions to take the power of trading money from the banks and giving it back to the people, with these extreme ideals which had the to potential to disrupt the economy, the creator kept himself anonymous in fear of repercussions. But he wanted everyday people to be able to trade goods for payment without the fear of inflation. n actual fact bitcoin is a deflating currency.

The way bitcoin works is that every time currency is transferred between people, fee is charged. There is 3 types of fees with each type affects the cost and speed of the transfer. These fees are paid to miner for processing the transactions, these are dedicated computers created to secure the system and playing the role of your everyday bank teller, but a small portion gets burnt off depreciating the total amount of bitcoins in circulation. If you are curious what to total amount to be created, the total figure is 21 million and not all of it has been created but it is close the cap. A small report will be out soon, where I will be able to go further indepth into technology behind it. But as this is more of an introductory, I want to keep this as simple as possible, because bitcoin is only the tip of the ice berg, as bitcoin is one of many currencies available in sphere of cryptocurrency. (Please read below for glossary of terms.)

With the technology behind bitcoin and various other currencies. Has provided companies the ability to digitize physical assets and have it represented has a digital token instead your traditional stocks & shares. but the tokens can be easily cashed out instead of waiting days or weeks compared to traditional system, and large quantities, dont need to be purchased. Making this more accessible to every day people and at the moment the financial investor are still waiting to trade these digital assets.

But before you can look into purchasing any of the above mentioned. You first need to set up a digital wallet. Now these come in various forms and can hold various currency. Many digital wallets can be found online and through your app store on your mobile. But the easiest way I have found to set up my self with a digital wallet and purchase some bitcoin. Is to setup a Coin Jar account. Coin Jar is an Australian company that created a platform for users to be able to easily purchase and store digital currencies, which currently include 3 other popular currencies beside bitcoin and can also purchase GBP and USD and store. Just recently Coinjar also setup a trading exchange so you can trade like a stock broker against the Australia Dollar. I will be creating some beginner articles later on, on the basics of the trading but the beauty of Coinjar is you can connect your everyday bank account like paypal to deposit cash or you can simply bPay your money, so you can purchase bitcoin. Coinjar also has the added feature unlike many other places around of givingthe option of purchasing a eftpos cards. This card can be used at any ATM or eftpos terminal around Australia to access you funds on the run, and this is what makes it awesome and nothing like anything else and the dawn of a new age, where money will go digital, and for now, it’s all about growth and adoption around the world. First there was the the PC, then it was the Internet, and now it’s digital money. But we are only at early stages now, which is why there is the gamble. That’s why the important rule is to only spend or invest what you can give away, spend or lose, but at least with bitcoin, you can look at it like a investment you can cash out at anytime with Coin Jar.

Click Here To Create A Coin Jar Now.

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