Bitcoin is a network that enables a new payment system and is completely digital money. It is the first peer-to-peer payment network that is powered by its users with no central authority or middlemen. In simple terms, Bitcoin is basically ‘cash for the Internet’.
Although it is not designed for this purpose, cybercriminals use this system, especially when receiving ransom off ransomware attack victims. This is because payments are hard to trace and the criminals have less chance of being caught.
How do you buy Bitcoin?
You have to find a reliable broker. They are widely available online so once some form of cash payment has been transferred to them, they will add the bitcoins to your account or wallet if you like. A single bitcoin is currently worth £2101.27 but it divisible so you can buy smaller amounts.
For further advice or if you would like to renew your cybersecurity, please contact us via email or phone at 01329 888444.