There have been steady improvements in the world of finance over the years. Thus, in the past, we have witnessed new payment opportunities, the emergence of bank accounts, credit cards, electronic banking, but also the emergence of new digital money. And no, we are not talking about online payment and the availability of money through e-banking, but we are thinking of something completely new that first appeared 11 years ago. These were the cryptocurrencies with their first representative Bitcoin. It was presented as a concept that would change people’s habits, as a way to invest and think about the future, as something that had not been seen before. People did not believe it, but as time went on the horizons changed.
The cryptocurrency first came out in 2011 when it was not so widely supported. However, its developers did not stop and continued to develop this digital coin with great power. They worked on finding sites to buy and sell, software to use for digging, digital wallets in which you can safely store your digital coins without anyone touching them, and of course – they worked to change people’s awareness and increase awareness of the existence of such a novelty that will change the world of finance, investment and in general will change the whole world and move it forward. That finally happened in 2015.
img source: bitcoinist.com
The Bitcoin madness took over the world in the last few years. From its rise to fame in 2015, the cryptocurrency business flourished. A drastic uprising in cryptocurrency creation was detected, and everybody just wants to get their hands on the money. While on the height of the power, one Bitcoin was valued at $19,783, which is insane. But, scams also started rising. Numerous scammers tried to rob a lot of people since the whole exchange with cryptocurrencies is anonymous.
There are too many scammers and scams. Over the years there are more and more of them. The downside of the whole situation is that they are not easily noticeable, but we can tell you how they occur and what to look out for. They appear in the form of Bitcoin mining sites, trading sites, e-wallets, or any other type of Bitcoin-related site. How to recognize that it is a scam? Look for a label that is a secure site and the most important thing is that the label is given by a relevant institution that makes sure everything is in order when it comes to Internet use. If you find such a tag then you are safe and have no reason to worry about the authenticity of the site.
The UK was also affected by this trend. It is interesting to mention that a lot of traders in the UK are Australian. The good thing is that the whole process is well-protected, and there are small chances of a scam. Whilst buying and trading bitcoin, it’s important for Australians to vigilant of potential get-rich-quick scams. The bitcoincircuit.biz comes under particular scrutiny for its alleged endorsement by celebrities such as Elon Musk and Richard Branson.
Since a lot of the traders in the UK are Australians, a lot of them are also using Bitcoin. With that being said, it is good to know how to exchange them, and where. We have a small list of some websites and some online wallets where you can store them. Let’s begin with the places where you can buy Bitcoin.
img source: bitcoin.com
The most popular Bitcoin place is Coinbase. Coinbase is the world’s largest broker in Bitcoin. It is good to mention that they have an Instant Buy option so that you will not have to wait a long time. Bittylicious is located in the UK, and you can buy Bitcoin via credit/debit cards, Barclays and much more. Bitpanda, Luno, and Coinmama are also available and pretty good to use.
LocalBitcoins, BitBargain, and QuickBitcoin are worth a mention as well.
Now, let’s turn to the places where you can spend them. One interesting thing about using Bitcoin in the UK is that you can spend them online, as well as offline. Online sites like healthmontly.co.uk, EarthVPN, At Its A Mod Thing.com, Alegol.com, Media Lightbox, and many more, you can use Bitcoin in a large number of categories, from health to clothing.
Apart from the online sites, Bitcoin is accepted at places like PrivateFly, where you can hire a private jet to the desired destination. East London Man With a Van can help you with relocation if you are planning to move somewhere. EV Carshop is a company that can consult people when turning to electric cars. Apart from charging in GBP, they also accept Bitcoin. A lot of places in London, Brighton, Norwich, and Cambridge accept Bitcoin.
img source: i-scmp.com
Regardless of the security and safety that everybody guarantees, make sure you always double-check the sites and places where you spend your Bitcoin. It is valued at around $9,000, which means that you have a big responsibility by using them. Like mentioned before, the whole process is anonymous and hard to trace, which means that if you make a mistake, it will be nearly impossible to get your money back. Research well and use the cryptocurrencies smart. It is important to be careful not to sell your Bitcoins ahead of time as you may later regret repelling them. The value of this virtual money varies and it can change, and to sell it you will need to monitor the situation. You also have to be careful and pay attention to what is available online. Above all, we think to watch out for fraudsters because they are the number one reason for disappointment for all those who have decided to invest in virtual currencies. After being deceived, they are disappointed and sell them. So be careful, get fully involved in the whole process, and gather confidential and accurate information before making a decision. This will give you a safe path to success and you will feel the benefits of Bitcoin which is the best and most sought-after currency in the world ever. It takes a lot of luck on that road, and we leave you all the luck to succeed.
