Circle is a popular bitcoin wallet and exchange service that makes it easy to buy, sell, and store bitcoins. In this post, we’ll show you how to use Circle to buy bitcoins with US dollars.
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Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million.
Circle is one of the most popular ways to buy bitcoins with cash and bank transfer. They also have one of the best mobile apps available. Read our full review here.
Here’s a step-by-step guide to buying bitcoin using Circle:
1. Sign up for an account at Circle (takes less than 5 minutes).
2. Verify your identity by providing basic personal information.
3. Deposit cash into your account using either a bank transfer or debit card.
4. Buy bitcoin! The current price will be displayed next to the “Buy” button. Enter the amount of bitcoin you want to buy and click “Buy Bitcoin”!
What is Bitcoin?
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.
What is Circle?
Circle is a peer-to-peer payments technology company. It was founded in 2013 by Jeremy Allaire and Sean Neville. The company is headquartered in Boston, MA.
Circle allows users to send and receive money using the Bitcoin protocol. In addition, Circle allows users to hold, store, and manage their Bitcoin balance using the Circle app. The app is available on iOS and Android devices.
In September of 2014, Circle received $50 million in venture capital funding from Goldman Sachs and IDG Capital Partners. In October of 2014, Circle launched its service in the United Kingdom.
How to Buy Bitcoin Using Circle
Circle is a peer-to-peer payments technology company. It was founded in October 2013 by Jeremy Allaire and Sean Neville. The company has offices in Boston, New York City, Dublin, London and San Francisco. Circle is one of the most well-funded startups in the bitcoin space, having raised $76 million from investors including Goldman Sachs, IDG Capital Partners, Breyer Capital, General Catalyst Partners, Accel Partners, Borderfree founder Michael DeSimone, and former Citigroup CEO Vikram Pandit.
In September 2015, Circle received a BitLicense from the New York State Department of Financial Services allowing it to offer digital currency businesses operating in New York state. In April 2016, Circle launched a no-fee digital currency investment service allowing users to buy and hold Bitcoin as an investment, similar to stocks and bonds on a traditional investment platform.
To buy Bitcoin using Circle:
1) Sign up for a free account at https://www.circle.com.
2) Verify your identity by providing your full name, date of birth, mailing address, and phone number.
3) Connect your bank account or debit card to your account.
4) Select the amount of Bitcoin you want to buy and click “Buy Now.”
5) Your Bitcoin will be added to your account immediately!
We hope this guide was helpful in explaining how to buy Bitcoin using Circle. As always, feel free to reach out to our support team if you have any questions.