Ever since the meteoric rise of Bitcoin in 2016, this cryptocurrency has become a popular topic of discussion. But what is it? How does it work? And how can I make money by investing in it or trading Bitcoin? In this post, We will answer these questions and more as we explore what is known about the origins of Bitcoin. Also, you can see here, how you can invest or trade with bitcoin.
The first thing to know about bitcoin is that its value has been on an upward trend for years now. The coin started off at a meager $13 on January 3rd, 2010, but by February of 2013 it was worth almost $1,200. Not to mention the fact that bitcoin has consistently been the most popular cryptocurrency (as opposed to traditional decentralized digital currencies like Dogecoin, Ethereum and Litecoin).
What is Bitcoin?
It is a digital coin launched in 2008 that can be used to make online transactions. Bitcoin is seen as a substitute for the traditional banking system. Imagine if we didn’t have banks or credit cards (which can only be used when you have money in your account). Essentially, we all have our own personal electronic bitcoin wallet or “vault”, and this vault holds a record of all our pending transactions. What sets Bitcoin apart from other cryptocurrencies like Ethereum is the fact that it can be used for everyday purchases as well as be exchanged for stocks, bonds and other assets; you don’t need to trade Bitcoin to buy merchandise or invest in stocks or bonds.
Bitcoin as an investment
If you’re more advanced and interested in short-term trading, the Bitcoin Beginner course is for you. It takes a different approach and teaches you how to buy and sell bitcoins in exchange for other popular cryptocurrencies. You’ll learn the difference between good and bad exchanges, how to use market data, and how to trade using price momentum and other technical indicators.
The pros are that the cryptocurrency is incredibly volatile but it is also incredibly easy to buy, sell and invest in. Bitcoin has made many people a lot of money in the last couple of years, but it can also cost you if you are not careful. There are other popular courses to learn about bitcoin such as Bitcoin: A Hands-on Introduction for Beginners. In this course, you will be introduced to bitcoin and will learn all about its history, its potential applications, and where it’s heading.
Popular bitcoin rivals
There are thousands of other cryptocurrency companies out there and they are competing for your business. Stunning Paycoin One of the top exchanges out there and Paycoin is just as secure as bitcoin. It is similar to bitcoin in many ways but it is more secure and helps to further integrate the blockchain. It’s called Ethereum. It is so called because the entire currency system is built upon Ethereum, a fully decentralized network. This gives everyone equal access to the funds within the currency. Ethereum is what banks used to be in the 18th century before they were corrupted by big government banks.
If you look at any investor or trader you will see they have multiple currency bets. However, that is not the only way to be exposed to the potential growth of this new technology. The underlying blockchain technology is not going away and there is always going to be demand for it.