The name bit does not refer to byte, as many may think, but to a point-to-point (P2P) sharing network, called BitTorrent, in which each user is anonymous and has the same value. This is what happens with virtual currency.
Despite being the most well-known and widely acclaimed in the internet world, Bitcoin is not the only existing cryptocurrency. The highlights of the competition go to Litecoin and Mastercoin, but none of them has the representation of Bitcoin, the main virtual currency in the world today.
Bitcoin's origin is attributed to Dorian Nakamoto, a code name that would be used by Satoshi Nakamoto, although he always denies the alleged creation that, at least officially, remains anonymous.
How to buy bitcoins?
To be able to acquire money in the form of bitcoins, whether for investment or for fun, the user first needs to create his virtual wallet, which works as a kind of virtual point where all bitcoins are stored, categorizing a type of bank account free of fees and taxes. This wallet can only be created on the official blockchain website (chain of blocks). Each unit has a specific numbering, protected by encryption.
To prevent fraud or scams, such as copying or duplicating coins, in addition to false transactions and other types of crimes, there is a powerful security and control system. Basically, when there is a commercial exchange between two virtual wallets, it is published on the blockchain website in code form, which is verified by specific software aimed at this function.
For a person to obtain bitcoins, he can make a commercial transaction, receiving the virtual currency in exchange for services or products, as a common negotiation. Another method is to buy bitcoins directly, exchanging official currencies (such as the real and the dollar) according to the market price, so that the more expensive the bitcoin, the more money you will need to acquire it. This process can be done online only on the blockchain website itself, the same as the virtual wallet, in addition to ATMs created for this, which practically does not exist in Brazil.
