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When paper money was invented by the Tang Dynasty in China in the 7th century, it was met with trepidation and uncertainty. This was the first time that currency was only representing stored wealth in a bank. Prior to this, coins were worth the value of the precious metal they contained.
Bitcoin has been met with the same kind of doubt by the masses in its short history. Some, though, believe that digital currency is the future, at least in the online world. People who fall into this camp in Halifax may be wondering where they can get hold of bitcoin.
Granted, a lot of the public is still unconvinced about bitcoin. The fact that it purely exists online without any tangible assets is hard to grasp, and the blockchain is an unfamiliar concept as well, although you can read more about it at investopedia.com and other online resources. The thing is, the internet has taken over the world, and now 58 percent of the global population is online. These web users exist in a borderless universe, and people who live thousands of miles apart can instantly communicate with one another. They can also perform cross-border transactions, so whose country’s currency should they use? In these circumstances, it seems strange that there isn’t a universal currency for the online world.
As internet usage becomes even more widespread, it seems fair to assume that bitcoin will become ubiquitous at some stage in the near future. A lot of major industries have already begun to offer it as one of the methods of payment. The online casino industry is perhaps the most notable of those in Canada, with sites like casinoseal.com offering players a breakdown of the online platforms where they can top up their accounts using the cryptocurrency. Such online casinos even have offers in bitcoin to give players a chance to maximize their profits. Additionally, the service industry has a number of places to spend bitcoin. Coffee shops, in particular, seem to be keen on allowing bitcoin payments, possibly as a way to stand out from the competition.
Before you start paying for stuff with bitcoin though, you need to know how to exchange your Canadian dollars for it. In Canada, there are numerous online bitcoin wallets which can be used to buy the digital currency. Coinsquare.com is one of the most popular options for Canadians, as the site is based in Toronto. Other good options include BitBuy and Coinberry. When you sign up for one of these services, you will be asked to provide some security information in order to maximize the safety of your assets. Once this has been completed, you will be able to purchase bitcoin via bank transfer or card.
After you have bought your bitcoin from an online provider, it is wise to move it to a desktop wallet like Exodus for added security. For people who want to sit on their assets to see if they rise in value instead of spending them on a day-to-day basis, it is best to store the funds in a hard wallet that can be removed from the computer and stored in a safe. Learning how to buy and use bitcoin now could be beneficial, as it could well become a global currency in the years ahead.
