Many people now view Bitcoin as an investment asset. However, it is worth taking an interest in the purpose behind the anonymous creator (or creators) of the first cryptocurrency.
Satoshi Nakamoto, when making BTC available to the world in 2009, primarily wanted a crypto-based money that could function on the internet.
No central issuer
What distinguishes the most important cryptocurrency from traditional currencies is the absence of a central bank or other issuer. In addition, Bitcoin is protected against inflation thanks to a special mechanism that has been included in its code from the very beginning: there will never be more than 21,000,000 BTC.
Cryptocurrency immune to inflation
A predetermined amount of currency does not exist, of course, in the case of fiat currencies (PLN, EUR, USD), so they are constantly being printed. This leads to the risk that the issuer will put into circulation such a large amount of new money that it will reduce the value of the money in circulation. A decrease in the purchasing power of national money can be seen all over the world, which leads to constant increases in the prices of products and services.
With Bitcoin and many other cryptocurrencies, no such risk exists. There is no possibility that someone will suddenly "create" more units of the asset. Thus, BTC is effectively protected against an artificial decrease in purchasing power. It is also worth remembering the large amounts of lost Bitcoins (this includes cryptocurrencies stored in wallets to which the owners have lost the keys). Not surprisingly, many people refer to the oldest cryptocurrency as a deflationary currency.
Not enough BTC for millionaires, but enough for it to become a global currency
The 21 million bitcoin limit mentioned at the beginning is an oft-used argument for the cryptocurrency's growth. If every millionaire in the world wanted to have at least 1 BTC in their wallet, there wouldn't be enough for everyone. At the same time, nothing stands in the way of being able to pay for dinner in a restaurant with it, despite the cryptocurrency's continuous rise in value. This is possible thanks to the division introduced by the creator. Just as each zloty is divided into 100 pennies, so each BTC is divided into 100 000 000 satoshi.
Open code with protection against unwarranted changes
Bitcoin has open code (open source), so anyone with technical expertise can verify for themselves whether the above information is true. At the same time, there is no risk that someone will make adverse changes to the cryptocurrency's code. Any such amendment must first be accepted by the majority of users.
For a small fee, you can transfer cryptocurrency to the other side of the world at any time and no matter what day of the week or time of day it is. This makes bitcoin very easy for international transactions. Cryptocurrency can be stored on wallets available as apps or on hardware devices. Every year, the process of using cryptocurrency is getting simpler with the development of new solutions. So, it is not true to say that cryptocurrencies should only be dealt with by people with high technical knowledge.
Nowadays, all you need to do is download one of the many apps available on iOS / Android and fund it with bitcoins purchased from an exchange office or bitmachine. This is enough for you to start sending BTC to your friends or pay for online purchases.
It is also worth mentioning that while the oldest cryptocurrency does not provide complete anonymity, it definitely increases the privacy of transactions.
Interested in buying or selling bitcoin? Check out our offer to exchange cryptocurrencies at an exchange office or Bitcoin ATM.
A cryptocurrency exchange is one of the most common places chosen by people who want to buy or sell their Bitcoins, Ethereum and other cryptocurrencies. While this is obvious to people who regularly use such outlets, novice investors often wonder what cryptocurrency exchange offices really are?
Cryptocurrency Exchange Offices are places that offer cryptocurrency exchange service. With them, you can easily sell cryptocurrency or buy it with cash. This is a convenient solution for people who do not want to wait for a transfer from an exchange or want to take care of their privacy. For transactions not exceeding the equivalent of 1,000 euros, you don't have to go through an identity verification process.
How to prepare for a visit to a cryptocurrency exchange?
A visit to a currency exchange office does not require any special preparations. However, just in case, it is worth calling the chosen exchange office and making an appointment for a specific time. Thanks to this you won't have to wait in a queue and additionally you will be sure that there will be enough cash at your disposal. This is important in case of larger transactions.
How are transactions over 1000 EUR handled?
According to current regulations, cryptocurrency exchanges must follow KYC and AML procedures. This means that for transactions over €1,000, the customer must be verified. Be sure to bring your ID card with you. Fortunately, the whole process takes a few minutes and once the verification is complete, the customer can sell and buy cryptocurrencies without any restrictions.
Are there any additional fees for using an exchange office?
Similar to traditional currency exchange offices, cryptocurrency outlets operate according to the current exchange rates. You can find them on the website or get them from an employee of the exchange office. For smaller transactions, an additional fee of 150 PLN is added. On the other hand, customers exchanging amounts over half a million PLN can negotiate the commission, so it is more profitable to do fewer transactions of higher value.
What else is worth knowing about cryptocurrency exchange offices?
New customers usually have a lot of questions, so it's a good idea to review the information available on our site before visiting, as this will help speed up the transaction. It's a good idea to think about your choice of cryptocurrency wallet in advance and learn basic information about Bitcoin. For regular customers of cryptocurrency exchanges, the entire exchange process can be reduced to several minutes, depending on how quickly the blockchain transaction is posted.
Find your nearest cryptocurrency exchange
You can find FlyingAtom cryptocurrency exchange offices in major Polish cities. Check the list of offices and the exchange procedure at Exchange BTC - Bitcoin exchange network - FlyingAtom.
Bitcoin ATMs are often referred to as "bitcoin ATMs," which explains their function well, but modern machines also allow you to exchange other cryptocurrencies. Like traditional ATMs, bitcoin ATMs are self-service machines that make it easy to withdraw money.
The difference is that these are not funds from a bank account, but money that the customer received for their BTC. Bitmobiles work bi-directionally. This allows you to not only sell but also buy cryptocurrencies.
Key advantages of bitomats
Supporters of bitomats praise above all the ability to exchange money at any time. You don't have to make an appointment in an exchange office or wait until the money is credited to your account. Just walk up to one of the many bitomats available throughout Poland and you can immediately start making transactions to buy or sell crypto. In addition, because bitomats are fully self-service, they provide a greater level of privacy.
How does the process of buying BTC in bitomat work?
Purchasing BTC from a bitmate is extremely simple and only requires some basic information. The most important is of course the address of the wallet, which can be scanned from the QR code. Then the customer must insert the appropriate number of banknotes (multiples of 100 PLN). After each banknote an information about how much BTC will go into the client's wallet will be displayed. After inserting the last bill you just need to click Send Bitcoins and the funds will be sent to the wallet address given at the beginning.
How to sell bitcoins at Bitcoin ATM?
Selling bitcoin is as intuitive as buying. In this case, the customer starts by specifying the amount they want to withdraw at any given time (a multiple of 100 PLN). Then choose one of two authentication methods (SMS or email). The final step will display the address of the wallet that needs to be funded with cryptocurrency. The amount of BTC will be displayed on the screen. After sending BTC and booking the transaction the client will receive a code necessary to withdraw cash.
Find your nearest bitmachine
You can find FlyingAtom machines in major Polish cities. Check the list of machines and the exchange procedure at Bitcoin ATM Network - FlyingAtom.
Cryptocurrencies are virtual currencies that most countries do not recognize as a means of payment for now. The exception is El Salvador, which recognized the most important cryptocurrency (Bitcoin) in 2021. However, this has not prevented the entire market for digital assets from growing rapidly. In March 2022, the total capitalization exceeded in two trillion dollars.
The first and also the most popular cryptocurrency was Bitcoin (BTC). According to many experts, the adoption of Bitcoin is happening faster now than it did with the Internet in the 1990s.
Definition of cryptocurrencies
A distributed ledger system that is based on cryptography (blockchain) is often cited as the definition of cryptocurrency. Investors view cryptocurrencies as digital assets that can be traded at exchange offices, on exchanges, or among themselves. Unlike stocks, cryptocurrencies can be withdrawn from exchanges at any time and transferred to a private wallet. This way, it is the user who has full control over their money and does not have to worry about the government or some institution seizing their assets.
Cryptocurrencies are more than an investment
Increasingly, however, buying cryptocurrencies is no longer seen solely as investing. For crypto proponents, the important thing is that they can secure their wealth this way and easily transfer digital money anywhere in the world if needed. It is also not insignificant that many cryptocurrencies have a limited supply. Thus, they cannot be added to, which could lead to a decline in value over time. The best example of this is Bitcoin. Back when this cryptocurrency was introduced in 2009, it was determined that there would never be more than 21 million BTC.
How many cryptocurrencies are there now?
When asked what cryptocurrencies they know, many people primarily point to Bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE). It comes as a big surprise to them to learn that there are many more cryptocurrencies available in circulation. Even if you limit the list to those projects that have websites and recently someone actually wanted to trade them, it's safe to point out at least a dozen thousand different cryptocurrencies. Of course, most of them don't really have much value and people who are new to the digital asset market should focus on understanding the projects mentioned at the beginning.
Due to the fact that BTC and ETH have been on the market for years and are increasingly popular with private and institutional investors, they can be considered a relatively safe investment. However, one should not forget that this is still a young market, so one should expect high price volatility.
Znajdź najbliższy kantor kryptowalut lub bitomat
Exchange offices of cryptocurrencies can be found in the biggest Polish cities. Check the list of offices and the exchange procedure at: Exchange BTC - Bitcoin exchange network - FlyingAtom or the list of addresses of 41 Bitomats and their cash balance at Bitcoin ATM Network - FlyingAtom.
