HOW TO INVEST IN BITCOIN

Bitcoin has become one of the biggest catchphrases in the financial technology industry in the recent years. Unfortunately it is also among the least understood investments. Crypto currency has found itself in the news over and over again. Some times for the best but other times it is in the negative view.

The bitcoin marketplace has been demonized because of few fraudsters who take advantage of innocent investors. It is however one of the best and most promising way of investing your money if you understand how to invest in bitcoin. This has remained a mystery to many people and hence the cause for alarm of the increasing fraudsters in the industry.

There is however no better time of investing in cryptocurrency than now. This is because; it is prone to lose its value when more people get into it and the bitcoin marketplace gets flooded. In this article, we are going to list down a few points that you need to know before you step your foot in this business.

Point to note

Just like any other business, investing in cryptocurrency is highly risky and speculative. However, it is also profitable if done in the right way. For that reason, it is highly advisable to consult a professional expert or someone who has become quite informed with how this works. This will lessen the risk of getting into business with a fraudster and losing your investment.

Why should you buy bitcoin?

You don’t have to understand much of how Bitcoin auction site operates to realize that businesses, the bold, banks and the brash are all cashing in on bitcoin. This is highly increasing the value of bitcoin in a very high margin.

If you don’t know how to invest in bitcoin, this is the time of finding out all the information you need and get started. People are making a fortune from investing in bitcoin. Those who bought bitcoin in 2016 were buying it at approximately $710.09. The same is now being sold at approximately $3.890 according to results released on 21^st February 2019.

This confirms the fact that, people are not getting into this business so much because they need the bitcoin. Many are joining the market for the massive returns they are earning by trading in their bitcoins. You don’t need an economic degree to know the much who stepped into this field in 2016 are earning today.

MAKING PAYMENTS WITH BITCOIN AND BITCOIN CASH

Technology has brought a lot of changes and goodies our way. In the recent, they established a new and easy way of making payments which is known as bitcoin cash. But before we give details on how the currency works, let’s give a simple definition of what it is.

What is bitcoin?

Bitcoin is a cryptocurrency, and a form of electronic cash. This is a decentralized digital currency that needs no central bank or single administrator. Bitcoin can be sent from one user to another on a platform known as peer-to-peer bitcoin blockchain network. The best news is that you don’t need an intermediary to trade on this network as it’s powered through the blockchain technology.

There are different bitcoin Auction Sites some of which are genuine while others are not. One of the sites that one can easily sell digital currency or bitcoin is eBay. This site hopes to become the biggest and most popular site in the trading of Yen, dollars and other flat currencies for the world’s most used digital currency (bitcoin).

It is also important to understand that bitcoin isn’t a flat currency and is not tied to any government. It is a cryptocurrency which can be used for investment purposes or making payments. Many governments and main stream companies accept bitcoin as payment. For such companies you can buy their products using bitcoin without any problem.

For how long has bitcoin been in use?

Before 2017, it wasn’t easy to buy using bitcoin as many people didn’t recognize it as a currency. However, in the beginning of 2017, different cryptocurrency auction sites came into play and the exchange of this currency became more popular. The fact that bitcoin is not paper money like euros, dollars, or yen, it is therefore not held by any monetary authorities.

Although bitcoin is produced by businesses and people all over the world, it is a challenge to use if you aren’t computer literate. This is because; producing a bitcoin needs advanced computer software that is able to solve mathematical problems.

Note

Bitcoin is a fixed asset and there are only 21 million coins available in total. Solving the mathematical problems is what results to the mining of bitcoins. Bitcoin is however divisible making the growth potential of its exchange medium unlimited. Understanding how this works needs some intense training as it  you can either make or lose a lot of money in this business.