How to get Bitcoin?

The easiest way to buy Bitcoin is through an online exchange like Coinbase. Coinbase makes it easy to buy, sell, send, receive, and store Bitcoin without having to use so-called public and private keys to hold Bitcoin.

But if you choose to buy and store Bitcoin outside of an online exchange, here's how it works.

Everyone who joins the Bitcoin network is given a public key, which is a long string of letters and numbers that can be thought of as an email address, and a private key that is the equivalent of a password.

When you buy or send/receive Bitcoin, you get a public key, which can be thought of as the key that unlocks your virtual vault and gives you access to your funds.

Anyone can send you Bitcoin via the public key, but once sent, only the holder of the private key can access the Bitcoin in your "virtual vault."

There are many ways to store Bitcoin both online and offline. The simplest solution is a virtual wallet.

If you want to transfer funds from your wallet to your bank account after selling Bitcoin, the Coinbase app makes the process as easy as transferring money from one bank to another. Similar to traditional bank transfers or ATM withdrawals, exchanges like Coinbase set daily limits and it can take anywhere from a few days to a week for a transaction to be processed.

The easiest way to buy Bitcoin is through an online exchange like Coinbase.

What is the difference between Bitcoin and blockchain?

All Bitcoin transactions and public keys are recorded in a virtual ledger called a blockchain. The ledger is essentially a chronological list of transactions. The ledger is copied exactly on every computer connected to the Bitcoin network and is constantly checked and protected using enormous computing power around the world. The concept of blockchain has proven to be powerful and adaptable, and there are now a variety of non-cryptocurrency related blockchains used for things like supply chain management. The term "Bitcoin blockchain" specifically refers to the virtual ledger that records Bitcoin transactions and private keys.