This article was first published on Metal Blog
There’s a lot of excitement around Bitcoin, and there’s just as many questions. Whether you’re hearing about Bitcoin for the first time, wanting to brush up on the basics, or trying to introduce a friend to cryptocurrency, we hope this guide is a helpful resource for you. Keep reading to find out the answers to some of the basic questions surrounding Bitcoin – written in simple language.
Is there an abbreviation for Bitcoin?
Bitcoin is often abbreviated as BTC – this is known as a “ticker,” much like how stocks in a company have tickers. All cryptocurrencies have their own ticker.
How does someone buy bitcoin?
The easiest way to buy bitcoin is to visit an online cryptocurrency exchange. These are websites where you can buy, sell, and trade cryptocurrencies using cash or other cryptocurrencies. Metal Pay is an app that allows you to do this on your phone, you can download Metal Pay here. There are lots of other cryptocurrency exchanges that you can use on your computer.
Do you have to buy an entire bitcoin?
Not at all. You can buy as little or as much bitcoin as you prefer. Most people start out by buying just a fraction of a bitcoin – sometimes as little as $10 worth to start. When you buy more bitcoin, it will build on the bitcoin you already own. For example, if you buy .0002 bitcoin today, and .0003 bitcoin next week, your total bitcoin will be .0005....
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