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12 of many Here's our best shot at explaining bitcoin


How do you buy it?

To buy it, you have to get a so-called digital wallet to store your coins and then link to a place where you can buy them. Coinbase is one such site. It's an app where you create an account and link it to your bank and then use it to buy, sell and store coins. There is a transaction fee.

Banks and financial companies have taken a keen interest in the blockchain concept, seeing uses for it in securities settlement, payments and other transactions far beyond tracking a digital token.

But bitcoin has some obvious problems, extreme price volatility being just one.

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