It is essential to share some information about bitcoin on how it works before the newbies become non-noob and do not regret their decision. But I think it would be great if newbies enter the world of digital currency.
Bitcoin is the first ever cryptocurrency that started it all. It is a digital or virtual currency designed to work as a medium of exchange. Cryptocurrency could be an active online currency exchange. However, buyers buy bitcoin with the intent of investing much as they would with stocks.
How Are Bitcoins Used?Bitcoin is a means of payment for goods and services. One can buy bitcoins from any cryptocurrency exchange such as Coinbase. Once you have earned Bitcoins, there are ways to lend them out and make interest. There are even ways to earn bitcoins through trading.
What Are The Risks?There's high risk as well as various opportunities with Bitcoin.
Bitcoin is relatively new, and its value is very volatile and can change significantly daily.
What Can You Buy from Bitcoin?Today more business places and online stores are adopting Bitcoins as a valid payment medium. Credit cards can be linked directly to Bitcoin wallets and are respected anywhere as a standard credit card.
1.Travel: Booking Flights, hotels, Expedia, CheapAir, and BTC TRIP; all these travel platforms accept Bitcoin payments.
2.Online Products & Applications: The largest footprint Bitcoin has made in online retailing. Major online retailers accept bitcoin payments and even gift card companies like eGifter too agrees with the Bitcoin payments.
3.Gold & Silver: Once your Bitcoin currency is reflected in your wallet, you can buy gold. Companies like JM Bullion, GramGold, and APMEX, provide the option to make payment through Bitcoin wallet.
Also, here's how the bitcoin transactions work, if you want to know.
https://www.altcoinsidekick.com/bitcoin-basic-blog/behind-the-scenes-of-a-bitcoin-transaction