cryptocurrency bitcoin

Bitcoin! Everything you should know before investing

One of the most talked-about issues of 2021 in terms of investment is the Bitcoin currency. It is increasingly gaining strength and recognition from investors worldwide. If you are one of those who have not yet heard of cryptocurrency or still do not have much knowledge on the subject, we suggest reading this article.

What is Bitcoin?

Bitcoin is nothing less than a currency like a dollar or a euro, but virtual. Otherwise referred to as cryptocurrency. Another big difference between cryptocurrencies and the currencies mentioned above is that a Central Bank does not control its issuance. Therefore, Bitcoin follows market movements, following the laws of supply and demand freedom.

Bitcoin production comes from a process called ‘mining’. Computers connected to the internet ‘fight’ each other in mathematical problems to win a coin block. For the currency to grow in an innovative and limited way, there is a limit of 21 million coins until 2140. This limit was set by the unknown Satoshi Nakamoto, the creator of Bitcoin.

What is it for?

Although it is a little tricky to understand all of the logic behind Bitcoin and its rules, many ask why they have them. First, as stated above, Bitcoin is a currency. It is possible to make purchases, make payments, and transfers. More and more institutions and companies are accepting payments via Bitcoin.

How do I get a Bitcoin?

To purchase bitcoins, you need to find a reliable website that sells them.

The purchase process is standard on all sites: the investor opens an account and transfers the capital to his account. It is always necessary to prove the transfer of capital. As soon as the site validates the vouchers, you have a credit account and can buy them. Before making any purchase, it is always important to see other customers’ opinions to make sure that it is trustworthy.

How do I store them?

Many are unsure where to put cryptocurrency after making the purchase. They are generally stored in your virtual wallet. There are several websites where you can purchase a virtual wallet for free. However, on most sites where you can buy Bitcoin, you have the right to have your wallet within site.

 

4 thoughts on “Bitcoin! Everything you should know before investing

Leave a Reply

Your email address will not be published. Required fields are marked *