What Is Bitcoin Currency?

Do you want to know what is Bitcoin currency? Bitcoin is a virtual currency which is based on a powerful technology with the cryptocurrency exchanges. Bitcoins can be  obtained through various methods like the  goods and services, payments in trade, direct buying & selling Bitcoins. It  fully works as a digital currency without any physical appearance.

Some Interesting Things To Know What Is Bitcoin currency?

  • Bitcoin works without any central bank or administrator. 

  • BTC transactions are fully encrypted.

  • No intermediary is required to exchange the Bitcoin.

  • computerised network is used to transfer Bitcoin.

  • The data of each user is stored in the digital accounts called Bitcoin wallets.

  • There is no standard form of exchanging Bitcoin.

  • The value of Bitcoin fluctuates with time.

  • The Bitcoins exchange rate jumps by up to 6000 US Dollars per week. 

Fiat Currency System

When sending or receiving cash or we can say fiat money, one requires payment providers or a central bank to govern the transaction. These transfers take long because of the paperwork and many other confirmations. It can take up to 3-7 working days.

Bitcoin Network

Get the best trading options with computer confirmed transactions with cryptocurrency exchanges.  The payment is processed through a private computer network in the crypto market. No banks or payment institutions needed.

Check TOP 3 best and trusted exchanges to buy and trade with cryptocurrencies. 


  • Daily trade of 500 mn - 2 billion 

  • 0.4 – 0.10% trading charges.

  • More than 120 cryptocurrencies.


  • 10 - 12 billion daily trading volume

  • Over 12 million daily users

  • 0.1 – 0.2 % of trading charges are applicable.   


  • 100-300 mn routine trading.

  • More than 2.2 million daily users 

  • 0.4 to 1% trading fees applicable.



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Binance is a leading Hong Kong-based cryptocurrency exchange founded by Changpeng Zhao in 2017. Binance covers more than 100 coin assets for deposits and withdrawals. It is an online trading platform that offers minimum charges for trading in Bitcoins. If you are looking for an easy and economical cryptocurrency exchange, you have come to the right place. The trade volume of Binance ranges from 10 to 12 billion daily. It has trusted 12 million active users daily. 

  • Fiat currencies are not facilitated.

  • Provides classic and advanced interfaces.

  • Impressive track record in the Bitcoin industry.

  • No complexity for freshers and professionals.

  • Quick trade options to convert coins at market rate

  • Use in-browser trading.

  • About 200 major coins are available.

  • Least trading charges at  0.1 to 0.2%.

  • Binance OTC

  • 3.5% fees charged for using credit card service.

  • Binance payment methods


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Huobi Global, a leading cryptocurrency exchange is headquartered in Singapore. It operates well in all branches spread in different countries.It makes it very easy to buy and sell in Bitcoins between the traders around the world. Huobi Global enables users to store their digital currencies such as Bitcoins, Litecoins, Ethereum, and more. There are over 5,000,000 trusted users to trade for the Bitcoin currency.

  • Over 190 cryptocurrency pairs available.  

  • Daily trade volume is about $1.4 BLN.

  • Trading  in the 200 crypto and stable coin assets.  

  • Multiple payment options are available. 

  • Good customer support available. 

  • Experience trading in highly-volatile coin assets.  

  • Huobi OTC

  • Trading fee of 0.2%for all users.

  • Limited daily withdrawals. 

  • No bonus staking is available. 

  • It is accused of providing false trading volumes.


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After the launch in 2013, Kraken is more than just a platform for exchanging the Bitcoin. It is a safe and secure option of trading for Bitcoins. It provides its services in over 180 countries in four continents. There are more than 2.2 million users to trade in more than ten 10 different cryptocurrencies. It offers direct trading for possible Bitcoin pairs.  

  • Kraken is a trusted cryptocurrency exchange.

  • Marginal trades are available

  • Different minimum trading amount for each virtual currency.

  • Supports almost 180 countries.

  • Daily trading volume of 300 million.

  • More than 30 trading pairs. 

  • Kraken OTC is available.

  • Limited payment options are available for trade.

  • Indian currency  is not supported.

  • Highly suitable for professionals.

  • Less supportive customer service. 

  • A long process of verification.

​We receive an affiliate commission when you buy bitcoin via our link. Profit will be used for blockchain ecosystem development purposes. Before using this page, read the disclaimer.

Cryptocurrency Risks

Highly Volatile

Want to know about What is Bitcoin currency? The trade in Bitcoins is highly speculative, that can lead to high profits or total losses. So investment must be done with the amount that you can afford to lose or win. 

A Lot Of Scams And Frauds

Don't try new things for fun; it can be really dangerous. Don't share your account details with anyone. Always try a third-party verification system for dealing through Bitcoin wallets. 

Robbery fees

When Bitcoins are used to maximize the wealth, the chances of fraud and robbery also go hand-in-hand. You can use a cryptocurrency exchange to prevent the number of frauds. But traders must watch out the applicable fees for the services.

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The website is only for educational purposes. The website does not constitute the provision of any financial or investment advice in connection with the use of the website. You should consult with a financial or investment professional to understand the risks of cryptocurrencies. You should not invest more than you are ready to lose. We don't guarantee you any trading profit.  BuyBitcoin24 doesn't offer legal services or company registration in Estonia. You can contact our legal team via website www.consulting24.co.​ We receive an affiliate advertising commission from crypto exchanges and Bitcoin wallets.