Despite recent declines in price, at just below $36,000 per coin, it’s still the largest cryptocurrency by market capitalization, at $683.6 billion as of May 6.
Originally intended as an alternative payment system for goods and services — that is, until high transaction fees made it too costly to do so — it has morphed more into a store of value for many users, just like precious metals.
The creator of Bitcoin is allegedly a computer programmer named Satoshi Nakamoto, whose true identity has yet to be revealed.
Since then, the price has dropped erratically — losing nearly half its value — as a result of investor fears over rising inflation and the COVID-19 pandemic, among other market factors.
Fortunately, you don’t have to purchase an entire Bitcoin to get in on the action, but rather you can purchase a fraction of a coin.
Many of you want to learn how to purchase Bitcoin and hold it in a hot wallet.
Cash App is also a hot wallet so you can purchase and hold your crypto assets online without moving them, and to buy and sell them as you see fit.
Because Cash App provides you with a hot wallet, you can simply store your Bitcoin online securely.
If you want to sell, simply tap “Sell,” choose the amount and it will show up as cash in your Cash App account.
If you’re like me and you want to store your Bitcoin in a more secure fashion such as a cold wallet, you can tap the arrow icon and send the $BTC to a cold wallet.
The information presented by the Crypto Coach and ZDNet is not intended to be individual investment advice and is not tailored to your personal financial situation.