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March 12, 2021, 11:54:15 PM Merited by DdmrDdmr (2), mk4 (1) |
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Technically, it only takes a digital form. However, Bitcoin has many "forms" since its been created both physically, and digitally. For example, you can get a Bitcoin debit card, and you can also get physical collectible items which store Bitcoin on. Although, despite being in all these "forms", Bitcoin simply exists digitally even if its supplied as a physical note or coin. Basically, these notes or coins usually have the private key on them, that you can use to access the digitally stored Bitcoin.
Basically, Bitcoin is derived from code which effects how it works, right from how many coins are generated, when they are distributed, and how transactions between users work. Think of it like your bank account if you will, that's be designed to allow you to send transactions easily, however your bank isn't physically moving around dollar bills every time you send a transaction. The money in your bank account is simply a number which exists on the computer, the bank has reserves which they "own". Bitcoin, is similar in that when you send Bitcoin to another person then you aren't actually moving a physical thing to another person. What you are doing is broadcasting to the Bitcoin network that you have sent x amount to x person. This then syncs with the entire network, and everyone will be able to see, and verify that transaction. In fact, the transaction goes through many "confirmations" which basically confirms that the transaction has been recognized as existing, and confirming that its actually been sent on the network.
Bitcoin can be stored in any way that you want. You can store in physically if you wish, just bear in mind that there's additional security concerns that you have to consider if you do this, also bear in mind that because you are storing it physically does not mean, that it doesn't exist digitally. Every Bitcoin ever created exists digitally, and can only exist digitally. Think of storing it physically as a way of backing it up, in a physical way. Your private key is effectively your password, or better yet your access point to your digitally stored Bitcoin. The private key can exist digitally, physically or if you wish, and you have a particularly good memory could neither exist physically or digitally, and only be memorized by you. Technically, the private key still "exists" digitally since to access your wallet, the network has to reconise the private key as valid, and tie it to a particular address. However, the way you store it, doesn't have to be digitally, e.g storing your private key within a notepad (which is a very bad security practice). So, it entirely depends on you where you store your Bitcoin. For someone new, its highly recommended to install either Bitcoin Core, or Electrum depending on your needs. Most need users would proably be more inclined to use Electrum for its lightweight capabilities (you don't need to sync the entire blockchain, which requires hard disk space).
That really depends on your capabilities. If you have capital to invest you can check out an exchange. For example, Coinbase is a popular exchange which you can buy, and sell Bitcoin with fiat currencies. However, if you don't have any starting capital to invest you can simply offer your services, and skills just like you would in the "normal" world.
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