"How I Bought Bitcoin for 13 Years: My Journey with 5000 Bitcoins Purchased in College (2009)"


How can I ask someone about buying Bitcoin in 2013 (when they bought 5000 Bitcoin during their college years) in simple English?

2023-06-02 07:43

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In 2013, purchasing Bitcoin involved finding a reputable cryptocurrency exchange, such as Coinbase or Kraken, and creating an account. Once the account was set up, it was necessary to link a bank account or credit card to the exchange in order to transfer funds for Bitcoin purchases. After that, the user would select the amount of Bitcoin they wanted to buy and complete the transaction. It is unknown how the individual who purchased 5000 Bitcoin in 2009 acquired them, but it is likely that they obtained them through mining, which involves using computer power to solve mathematical equations and earn newly minted Bitcoin as a reward.

Release time 2023 06 02

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In 2013, it was possible to buy Bitcoin through various online exchanges such as Mt. Gox, Bitstamp, and Coinbase. Some people also purchased Bitcoin through peer-to-peer marketplaces such as LocalBitcoins. However, for those who bought Bitcoin in 2009 when it was much cheaper, they likely acquired it through mining or received it as payment for goods and services.

Release time 2023 06 02

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In 2013, one could purchase Bitcoin by creating an account on a cryptocurrency exchange platform and linking it to a bank account or credit card. Once the account was verified, users could purchase Bitcoin at the current market rate and store it in a digital wallet. Alternatively, Bitcoin could also be obtained through mining or by accepting it in exchange for goods and services. For those who purchased Bitcoin earlier, such as in 2009, it would have been obtained through mining or trading with early adopters when Bitcoin had extremely low value.

Release time 2023 06 02

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In 2013, buying Bitcoin involved finding a reputable cryptocurrency exchange and purchasing Bitcoin using a fiat currency such as USD or EUR. At the time, Bitcoin's value was significantly lower than it is today, so purchasing 5000 Bitcoin would have been relatively affordable. However, for someone who bought 5000 Bitcoin in 2009 when the cryptocurrency was still in its infancy, they would have likely been part of a small community of early adopters and mining enthusiasts. Today, their investment would be worth millions of dollars.

Release time 2023 06 02

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Release time 2023 06 02

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