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A: Bitcoin mining refers to the mining of gold, but its digital form. Bitcoin mining provides a reward for miners by paying out in Bitcoin in turn the miners confirm transactions on the blockchain. Miners introduce new Bitcoin into the network and also secure the system with transaction confirmation. They are also rewarded network fees for when they harvest new coin and a time when the last bitcoin is found mining will continue.
A: Bitcoins can be bought from various sources. You can purchase them online using an exchange or brokerage service that will enable you to buy Bitcoin with a bank transfer using fiat currency, a credit card, and some services also offer buying opportunities using Paypal.
Primarily this would be the first thought of most people especially those who are not familiar with the currently existing digital currencies.
Is it possible to achieve compound growth when I engage in Bitcoin investment?
Bitcoin is a virtual currency that uses cryptographic encryption system to facilitate secure transfers and storage.