A Little About the Bitcoins

by | Jan 9, 2019 | Money And Finance

Bitcoin is becoming more and more common these days. Cryptocurrencies like Bitcoin are being used and accepted by retail establishments, and the digital currencies can be accessed by Clevland Heights Bitcoin ATMs around the country.

Yet, even though it is becoming more common, many people still don’t know much about it. At RockItCoin, we like to keep people informed which is why we put together this article containing some basic facts about Bitcoin. Plus, will also give you some information on finding your nearest bitcoin ATM.

How is It Created?

There is a competitive process in which new bitcoins are created. It is called “mining.” Basically, the individuals doing the “mining” are securing networks and processing transactions. They do this using specialized hardware.

All new bitcoins have a fixed rate, and when additional “miners” begin to processing and securing, it makes the whole system that much more competitive.

Why Are They Valuable?

In essence, bitcoins are valuable because people accept them as payment. Money must have a few basic characteristics. It must be durable, portable, scarce, divisible, and recognizable. While most currencies, like the USD, rely on gold and silver to create their value, bitcoin does not work that way. It is simply backed with mathematics. As long as it is valued, trusted, and adopted as a form of currency, it will continue to be valuable.

Buying Bitcoin in Cleveland Heights

RockItCoin has ATM locations in many areas of the country. We have three that are easily accessible from the greater Cleveland Heights area:

  1. Marathon Gas: Located on Woodland Ave and open 24 hours per day, this is a two-way kiosk.
  1. Sunoco: Located on Euclid Ave and open from 6 am -12 am, this is a two-way kiosk.
  1. Sunoco: Located on East 93rd Street and open from 6 am -12 am, this is a one-way kiosk.

We have more ATM locations dotting the entire country from the East Coast to the West Coast and everywhere in between. Find the one nearest to you on our interactive map.

RockitCoin For All Things Bitcoin

Head to the RockItCoin website for tips and advice about cryptocurrencies. Use our comprehensive knowledge base to find the answers to all your pressing questions. If you can’t find the answer to your questions, feel free to contact us. You can call, text, email, or use our contact form. We will be glad to help you!

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