Buy Bitcoin (BTC)

What is Bitcoin?

Bitcoin (BTC) is an open-source, decentralised digital currency designed to operate without the control of financial institutions or governments. Created in January 2009 by the anonymous Satoshi Nakamoto, it enables peer-to-peer payments that can be sent directly from one party to another without intermediaries. As a decentralised currency, Bitcoin operates on a blockchain—a public ledger that records all transactions, making it both safe and secure. The total supply of Bitcoin is capped at 21 million coins, with each Bitcoin divisible into 100 million satoshis, allowing users to buy as little as 0.00000001 BTC.

How does Bitcoin work?

Bitcoin operates on a decentralised network called the Bitcoin blockchain, where miners validate transactions by solving complex puzzles through a process called Bitcoin mining. Once verified, these transactions are added to the public ledger. Bitcoin miners are rewarded with new Bitcoin for their work, and so far, around 19 million Bitcoin have already been mined since the network's launch in 2009.

What are the potential use cases for Bitcoin?

Bitcoin has a wide range of use cases, including:

• Peer-to-peer transactions: Bitcoin allows online payments to be sent directly between parties without intermediaries, making it ideal for global transactions and reducing costs.
• Store of value: Bitcoin is often referred to as "digital gold," with its limited supply (capped at 21 million coins) creating scarcity, which can influence the price of Bitcoin over time.
• Business adoption: More businesses now accept Bitcoin for goods and services, making it easier to spend your Bitcoin or even swap it for other cryptocurrencies.
• Investment: Investors can participate in Bitcoin ETFs or simply purchase Bitcoin to diversify their portfolio.

What is the history of Bitcoin?

Bitcoin was created in 2009, marking the beginning of the cryptocurrency era. The first Bitcoin was mined in January 2009, and since then, the Bitcoin network has grown exponentially. Early adopters helped drive the adoption of Bitcoin, and today, it is widely used for peer-to-peer payments and as a store of value. With its fixed supply and increasing demand, Bitcoin has remained a central figure in the world of cryptocurrencies. The price of Bitcoin fluctuates based on supply and demand and has seen significant increases over the years. In Australia, Bitcoin has become easy to buy using platforms that support instant delivery, allowing users to buy Bitcoin instantly.

Bitcoin's growing popularity has led to the creation of other cryptocurrencies like Bitcoin Cash and increased interest in blockchain technology as a whole.

How to Buy Bitcoin

To buy Bitcoin, simply open a free account with Coinstash. Once you have created your account and completed your ID verification, you will be able to deposit AUD into your account and buy Bitcoin with our instant buy functionality.