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What is Bitcoin, and can you use it in Swindon?

Bitcoin may be famous for being the currency of the internet, but that doesn’t mean it’s not used offline too. If you’re not up to scratch on what it is, it’s a “cryptocurrency”, which is essentially a digital currency which is used for making purchases online and offline. However, unlike your typical Internet spending, it’s a currency of its very own, meaning that it doesn’t rely on the pound sterling, or even the dollar, to operate. It’s completely separate to all of that, but it may well be the future.   What Is It, Anyway? Bitcoin first showed its face back in 2008, in mysterious circumstances. However, despite its newness, it’s very safe. It relies on using encryption techniques to keep your details secure and make sure nobody can amend any completed transactions. It’s a totally different type of money than you’re probably used to. For one thing, it doesn’t rely on the banks, high street or otherwise. You can’t withdraw cash at an ATM, and in fact, you can’t own any physical forms of this currency in any kind of cash, at all. Instead, Bitcoin is a digital asset, and although you can use it offline, the vendor who receives your Bitcoin will have to go online to “verify” the transaction. Why Put Your Trust In Bitcoin? This currency is actually incredibly trustworthy because all the transactions are available to view on a public ledger. This means that Bitcoins are increasingly popular, because they provide an alternative to other options which makes everything transparent. At a time where financial matters have some sceptics, the intricacies of Bitcoin allow for you to cut out the middleman, which leaves everything entirely in your hands. It’s also not affected by political upheaval or matters in the news. The value is unaffected by world turmoil or daily events. Can You Spend Bitcoin Locally? Your money will be worth the same no matter where you go in the world, but that doesn’t stop you from using it right here! Now that you understand the currency a little more, it’s useful to know where you can spend it. If a night on the town in Swindon has got you feeling a little hungry the day after, you’ll be happy to know that takeaways are one step ahead of the game. Not only are they able to help those hangovers, certain sites already on the ball with Bitcoin, too. It doesn’t stop there though, health outlets like BeachBody are in on it too, and stepping out onto the high street, you’ll find that entertainment retailers CeX are also ahead of the times. Of course, leisure activities online have managed to find success in using Bitcoin, too. Gamers can find a variety of games which take it, giving them added security when gambling online. As we learned from reading a bitcoin casino blog, it’s clear that keeping your privacy protected is at the forefront of such initiatives. In fact, brands which choose to embrace Bitcoin so early often earn free publicity in addition to providing its customers with secure payments and cutting the middleman. Where Do We Get Bitcoins From? As Bitcoin is separate from any one individual authority, anyone can join in – it’s a peer-to-peer ran community. You do direct transactions, each verified online and recorded publicly for all to see in a ledger called Blockchain. As for actually jumping in at the deep end, you can convert your traditional currencies or even do some “bitcoin mining”. There’s a lot of jargon, but once you cut through, it may well be worth investing.