The Story Of Bitcoin, All About This Cryptocurrency

A bitcoin it’s a digital coin, you can send them through internet. It has a huge amount of advantages comparing it with the traditional payments methods. It’s an intangible coin that can’t be seen or touched as our usual coins around the world.

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This virtual coin it’s not under the control of any government or institution, no matter if it’s a private or public entity, in the matter of facts, its value is based and related to the law of offer and demand (this means, how much it’s the demand of a product and how many offers we have considering the price of the product being sold). To use Bitcoins, you need to create an online wallet, one example of them are (MultiBit or Bitcoin wallet) they both offers you the creation of a private password that won’t let Bitcoins get falsified and guarantees the safety between you and other user.

You can get Bitcoins in online markets or in bitcoins “mining”, the legality of this digital coin it’s reduced by the fact of not government or institution having a control of it. Which means, that there’s a empty weight of laws. Also, because of being an anonymous coin and Anonymous transactions, you get free of tax payments.

HOW TO INVEST ON BITCOINS?

If you want to do an investment on Bitcoins with your own capital and let it increase or changing your bitcoins into another cryptocurrency, you’ll need a virtual wallet, this Works very similar to an email account, you can go to many wallets (search for save wallets). My recommendation on it, it’s to go into additional configurations (where you’ll find many safety options to your wallet account), now the important it’s the fact of needing the bitcoins, you have to be very careful of people because many of them likes to get advantages over people without knowledge in this virtual coin to cheat them. To buy Bitcoins go to safe places with lots of demand and reviews or someone recommended by a friend, one Bitcoin it’s divisible in a term called “Satoshi”, so you can buy not one Bitcoin because of its value, but as many satoshis as your capital can.

BITCOIN TERMINOLOGY

SATOSHI: That’s the name of the subdivision of the BITCOIN.

BLOCKCHAIN: It’s based in P2P which means that BITCOIN is full of plural transactions where any bank entity is required.

WALLET: It works as a bank account where you are the only one making transactions whether to buy or sell.

FAUCETS: It’s the reference to earning satoshis without investments required. A faucet it’s a website where you can earn by doing simple jobs.

HOLDING: It’s the fact of buying bitcoins or satoshis and let them in your virtual wallet waiting for its value to increase.

TRADING: It is to make money buying Bitcoins when the price or cost it’s low and selling when the value of it is highly increasing. Works as an investment.

CURIOUS FACTS OF BITCOINS

1. In 2013 one Bitcoin became more worthy than one gold bar.

2. Every day are mined around 3.600 Bitcoins.

3. The first Bitcoin transaction was made in 2009.

4. Litecoin is the adversary of Bitcoin in this cryptocurrency world.

5. The last Bitcoin Will be found between in 2100-2140.

6. Every Bitcoin owns a history, and that’s why can’t be duplicated, at least for now.

7. Behind every Bitcoin there’s 31,500 computational codes.

8. The Lamborghini Brand it’s the first Brand accepting Bitcoin payment method.

ADVERTISEMENT AND RECOMMENDATION.

Bitcoin is called the future currency but many people use the fame of this cryptocurrency to take advantage of others, if you are going to buy or sell bitcoins and satoshis, use recognized websites services such as: localbitcoins, coinbase, bitfinex or xapo, Do a huge investigation before investing in a site. You’ll find in Google reviews of websites, choose wisely. Be extremely careful with having saved bitcoins in sites where you’re not the owner of your private password or key. GOLDEN RULE, save your money in your own wallet, so the access to it will be only yours.

Bitcoin it’s a high risk investment, before buying you need to know that the level of risk in this is very high, because of the impossibility to know the price and regulate it increasing. You should not invest more than what you are willing to lose, do not get into debts to buy cryptocurrency, this is something that shouldn’t be done with this or another investment, if you’re gonna start in this world, do it with extra money you’ve earned.

Bitcoin it’s not an stable market, it’s a market in expansion and offers very good opportunities that has to be studied with knowledge. If you have doubts about making an investment on Bitcoins, all you need to know it’s that preparing yourself for any good or bad consequence.

Remember that the payments through a wallet of Bitcoins it’s not reversible.. That means you should be careful on making business with people or institutions you don’t know about their reputation.

Make your investments on bitcoin starting in lowest quantities, so you can get to experiment and learn about it increasement within the month… There are some countries where this cryptocurrency is not allowed as: Kyrgyzstan, Ecuador, Iceland, Bolivia, Vietnam, Bangladesh, Taiwan and China.

Do your research. There are not many opportunities like this. Besides financial health, we need to invest also in mental, emotional and spiritual health, but once covered your physical needs, everything else becomes much easier.

Take your own opinion from this article, and study the cryptocurrency market, don’t forget to look up for more information about bitcoin in case of any investment desire in your mind. Investing is taking risk, bitcoin it’s the expression of risks, study more about the advantages and disadvantages, study more about safety investments on bitcoin, set up your mind with what you really want, If all you want it’s to do an investment then set up your mind with it, watch other’s opinions, listen up for other’s experiences in bitcoin, make your own point of view and take the decision that might be right for you and your future.