How To Invest In Bitcoin For Beginners


How To Invest In Bitcoin For Beginners
0

Almost anything is accessible on your smartphone nowadays. Bitcoin is a rather new commodity that is 100% digital and decentralized. There are several applications that you can download on your mobile devices to purchase Bitcoin!

There are crypto-currencies that have a cheaper price than Bitcoin! So do your research!

“To invest in bitcoin, means to invest in the space in total.”

Bitcoin runs on Blockchain technology, and this new technology runs on the giant network of teams building on this network.

What Is Bitcoin?

Bitcoin is a digital currency that was created in January of 2009; following the famous ’09 housing crash.

Bitcoin offers the promise of lower transaction fees than traditional online payment options. The network is operated by a decentralized authority, unlike government-issued currencies like the U.S Dollar.

*Bitcoin is also referred to as a crypto-currency.*

There are no physical bitcoins to hold value. Only balances kept on a digital public ledger that everyone has transparent access to.

Bitcoin transactions are verified by a massive amount of memory and computing power. Bitcoins are not issued or backed by any banks or governments, nor are individual bitcoins valuable as a commodity.

Despite it not being legal tender, Bitcoin charts high on popularity, and has triggered the launch of hundreds of other virtual currencies collectively referred to as Altcoins.

The next question must be obvious. How does this all work?

What Is Blockchain Technology?

Blockchain tech. is what all crypto-currencies run on. Imagine a chain wrapping around the entire planet. This chain is visible and accessible to everyone who chooses to use and look at it.

This chain is reliable, safe, and military-grade encrypted. You cannot counterfeit, however you can scam people.

Blockchain is the world’s solution in several ways. The way we pay for goods, travel to work, communicate with others, but most importantly, the way we share information.

How Do People Benefit?

Like many other things, you can invest into Bitcoin and cryptocurrency.

Many have called Bitcoin, “Digital Gold.” This can be a very powerful term when you have millions of dollars to control.

Digital gold, referring to Bitcoin being a digital commodity and limited supply creating large call-to demand!

Where Do I Buy Bitcoin?

Coinbase– the beginner app that allows individuals to start investing money into all trusted crypto tokens!

Binance– a more trading based app that focuses on trading of crypto currencies

Celsius Network focuses on earning interest on the crypto tokens that you invest your money in!! My favorite!

Is Bitcoin Risky?

Bitcoin is seen as a volatile, secure, decentralized, digital asset.

Let’s put it this way. Mostly everyone in the world wants their money ot be safe and secure from robbers, right? Same thing with Bitcoin and the security problems of it being 100% digital!

There is a correct and incorrect way to use or transact Bitcoin and crypto-currencies. If you accidentally don’t follow transaction protocols, you may end up losing your tokens and funds. You must pay attention to the details when starting out in the decentralized space!

Click here for more information on securing your money and digital wallet.