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What is Bitcoin

And Why You Should Get Ahead With Crypto

While many have heard of Bitcoin, few actually know what is Bitcoin. The cryptocurrency can sound overwhelming to understand, but in actuality it is quite simple. Bitcoin was invented in 2008 by an anonymous entity by the name of Satoshi Nakamoto and changed the financial market as we know it. Since its inception, there are now over 7,000 cryptocurrencies and over $370 billion of market value. Whether you want to call it BTC or Bitcoin, this pioneering cryptocurrency is here to stay.

Bitcoin At A Glance

One of Bitcoin’s greatest assets is that it is decentralized. Instead of relying on governments and financial institutions, the cryptocurrency is operated by a network of nodes (operators) around the world that split and verify the work evenly. With no single authority in charge, users have more control over their assets and do not need to worry about Global Recessions and the Fed skyrocketing inflation.


Bitcoin was designed to be a peer-to-peer electronic cash system, meaning that one individual could send money to another without incurring costly road bumps along the way. When sending fiat currencies across borders the funds go through various posts, changing currencies and incurring forex charges. Bitcoin can be sent from one side of the world to another for a fraction of the price and time, and is a direct transfer from sender to receiver. 


The technology behind Bitcoin is called blockchain, and has taken the world by storm. This trustless technology functions with a community of nodes sharing equal responsibility with no one authority dictating. The technology is being integrated in industries around the world, from supply chain management to renewable energy to farming. 


What Purpose Does Bitcoin Serve

And What Is Bitcoin Worth?


Value of Bitcoin

Since Bitcoin’s first market presence, the cryptocurrency has experienced an increase in value of over 9,000%. The beauty behind Bitcoin is that it was designed to be deflationary, meaning that it will only increase over time due to its limited supply. When Satoshi Nakamoto designed the cryptocurrency, they made certain that there will only ever be 21 million BTC in circulation, ensuring that the value will inflate. To know the value of Bitcoin at any given time, users should check a reputable exchange.

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On top of the decentralized and peer-to-peer nature, the cryptocurrency also offers more privacy than that of fiat transactions. Each user on the network is given an alphanumeric wallet code through which they can receive and transfer BTC, and while blockchain technology records this in a public ledger, each user can remain anonymous as there is no link from the wallet code to an individual’s identity.
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Powerful Store Of Value

Since its inception Bitcoin has experienced astronomical growth and proven to be a powerful investment. Investors have seen unbelievable returns on investment and Bitcoin has far exceeded itself when it comes to nascent markets. Not only does Bitcoin offer a convenient value of exchange, the cryptocurrency also offers a powerful store of value.

Where Do Bitcoins

Come From?

A common follow up question to ‘what is Bitcoin’ is ‘but where do they come from’? The process of generating new Bitcoin is done through Bitcoin mining. This process is done through computers as opposed to actual mines and is a significant function of blockchain technology. Each time a transaction is made, the transaction is verified by a miner, added to a block, and added to the blockchain. As a reward for the miners verifying the transactions, they are paid in transaction fees (more on this later) and newly minted Bitcoin. This is how new Bitcoins are released into the system.

How Does A Bitcoin

Transaction Work?​

When sending Bitcoin from one wallet to another, the sender will enter the amount that they would like to send and the receiver’s wallet address. This transaction will move into a pool of other transactions waiting to be verified, and wait for a miner to start working on it. Once the miner has confirmed that the sender owns enough funds to complete the transaction, they will verify the transaction, which essentially means solving a complicated math problem. Once the transaction is verified, the sender’s wallet address, amount of BTC, and receiver's wallet address will be added to a block on the blockchain and the receiver will be notified. For each block on the blockchain that is added following the transaction, the funds will undergo a confirmation round. Often funds need to be confirmed three times in order to access the BTC. Miners’ time and electricity costs are compensated by a small miner’s fee that the users pay to send and receive the funds. Cold Wallets store your crypto offline and can either be via USB or paper wallets. The codes are stored offline and are out of reach for hackers. Hot Wallets on the other hand are online and connected to the internet. These wallets can be in the form of desktop programs or apps, and allow for fast access and quick usage.

Why Tap Global is the answer to your

Bitcoin needs


Based in the USA

Trustworthy, reliable and global trading based in the USA

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Buy a little, buy a lot

We can process transactions as small or as large as you want
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Convenient Ways to Pay

Cash, crypto and more: It's always easy to pay with TAP Global
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Secured and Insured

We secure and insure your money, so you're always safe with us

How Do Bitcoin

Transaction Fees Work?

Bitcoin transaction fees are small fees charged whenever sending or receiving BTC, and are paid directly to the miner to compensate them for their time and resources. So, how do Bitcoin transaction fees work exactly? They differ depending on how busy the network is at that time, the busier the network, the higher the fees. These can also be increased if users want to fast track the transaction. Users can prioritise the verification of their transaction by paying a higher Bitcoin transaction fee. 100% of the transaction fee is paid directly to the miner.

Are There

Other Types Of Bitcoin?

You may have heard about Bitcoin Cash, Bitcoin Gold, Bitcoin Private, and many others. These are different cryptocurrencies that are either forks of the original cryptocurrency, or simply piggy-backing off the name of the more mainstream pioneer cryptocurrency. There will only ever be one Bitcoin, so don’t fall prey to misleading advertising campaigns that hint otherwise. That’s not to say that the other cryptocurrencies don’t hold value, Bitcoin Cash for example offers a faster and cheaper alternative to Bitcoin and is a top 5 cryptocurrency based on market cap. The process of verifying transactions, and creating new Bitcoin, is called Mining. Bitcoin mining involves solving a complicated computer puzzle and the first miner to do so verifies the transactions and receives the mining reward. Some cryptocurrencies use other methods of verifying transactions, however they are (mostly) all decentralized and use the same network of nodes. If someone were to try to add false information to the blockchain, the other nodes would pick this up and reject the block. Should someone try to spend the same Bitcoin or crypto twice, the network picks this up and rejects the second transaction. Should a bad actor get hold of your cryptocurrency, there is nothing stopping them from spending the funds should you not use them first. As there is no central authority in control that can refund your crypto, the funds are gone forever.

For Experts

And Amateurs

Whether you’re an expert crypto investor or a first timer in the world of cryptocurrency, the Tap Global app is where you need to go. We’re at the forefront of cryptocurrency security, and our digital wallet is as safe as you can get. You can easily buy and sell currencies on our secure platform for only the cost of purchase, so you’ll get the best possible deal. Even better, with our Prepaid Mastercard you can easily spend your cryptocurrencies when you need to, without having to go through the trouble of converting them.

If you’re looking to enter the cryptocurrency market, buying cryptocurrency is easier than you might think. There are plenty of exchanges that facilitate the purchase of cryptocurrencies, make sure that you find a reliable one. Tap offers seamless, split second access to crypto through the Android and Apple apps. Users can buy crypto by funding their account either through bank transfer or debit or credit card. The platform also offers a storage solution, allowing you to buy, store and manage your cryptocurrency from one safe location.

Why Tap Global Is The Best For For

Buying Bitcoin

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Buy Bitcoin

With Tap Global you can buy Bitcoin anytime, anywhere, with our easy to use and secure app. With us, you can track markets and keep up to date with the latest changes to make sure you get the best price.
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Hold Bitcoin

Tap Global is a digital wallet with a difference. Your cryptocurrency assets are always secure and always accessible, allowing you to hold them when you want, and be certain that they’re safe.
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Sell Bitcoin

It’s important to be able to sell when the time is right, and with Tap Global that’s never been easier. Our app is the perfect platform for selling cryptocurrency at the perfect time, and making sure you get the most for your money.
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Spend Bitcoin

It used to be hard to spend cryptocurrency, but the Tap Global Prepaid Mastercard makes it easier than ever. You can pay for purchases with your cryptocurrency without having to worry about transfer times and steep charges.

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