How To Invest In Bitcoin – Are They the Answer to How To Buy Bitcoin Online?
Bitcoins have become a question on how to invest in them and popular form of currency to buy online over time. Though, what exactly is Bitcoin? The following article will go over the in’s and out’s of this currency that popped up out of nowhere and spread like a wildfire. What makes it different from normal currencies?
Bitcoin is a digital currency, it is not printed and never will be. They are held electronically and nobody has control over it either. Their produced by people and businesses, creating the first ever form of money known as cryptocurrency. While normal currencies are seen in the real world, Bitcoin runs through billions of computers all around the world. From Bitcoin in the United States to Bitcoin in India, it has become a global currency. However the biggest distinction it has from other currencies, is that it is decentralized. This means that no specific company or bank owns it.
How Do You Buy Bitcoins in South Africa?
4. It’s completely transparent, all of the transactions using Bitcoins are shown on a large chart, known as the blockchain, but nobody knows it’s you as no names are connected to it.
5. Transaction fees are minuscule, and compared to a bank’s fees, the rare and small fees Bitcoin charges are close to nothing. It’s fast, very fast. Anywhere you send money too, it generally will arrive in minutes after processing.g. It’s non-repudiable, meaning once you send your Bitcoins away, they’re gone forever.
Will Bitcoin As valuable As Gold?
Bitcoin has vastly changed the world and how we see money. Many people are left wondering if it’s possible to live off of Bitcoins. Some have even tried to do so. Even so, Bitcoin is a part of our economy now, a unique kind of currency, and it isn’t going to go away anytime soon.
Wondering if you should invest in Bitcoin? If you’ve been around any kid of financial news lately, you’ve no doubt heard about the meteoric rise in the world’s most well-known cryptocurrency.
And if you’re like a lot of people right about now, you’re probably wondering, “Bitcoin – yes or no?”
Should you invest? Is it a good option? And what the heck is Bitcoin anyway?
Well here’s a few things you should know about Bitcoin before you invest. Also note that this article is for information purposes only and should not be taken as any kind of financial advice.
What is Bitcoin?
Bitcoin is known as a cryptocurrency or a digital currency. It’s basically online money. Like any currency you can exchange it for other currencies (like say, buy bitcoins with US dollars or vice versa) and it fluctuates in relation to other currencies as well.
Unlike other currencies however it is decentralized, meaning there isn’t any one central bank, country or government in charge of it. And that means it’s not as susceptible to government or central bank mismanagement.
Pros of Bitcoin
#1 Easy To Send Money
Because it’s decentralized, this also means that you can send a friend Bitcoin (money) on the other side of the world in seconds without having to go through a bank intermediary (and pay the banking fees).
Unlike a credit card charge, Bitcoin transactions are not reversible. So if you send Bitcoin to the wrong address – you can’t get it back.
Also, there are a lot of tales from people who have lost their Bitcoin wallet address (through hacking, phones being stolen, virus-infected computers, etc.) and they’ve completely lost their coins. There’s no way to get them back.
For this reason, you really need to know what you’re doing and take the time to research how to buy and store your coins properly if you want to invest in Bitcoins – or any other cryptocurrency.
So those are some of the things to consider before investing in Bitcoin. Basically while Bitcoin has a lot of great things going for it – and while it has the potential to change financial transactions as we know it – there is still a lot of risk. There are a lot of unknowns out there still.
South African Bitcoin Buying Guide - Easy Step by Step Guide to Buying Your Bitcoins
If you do decide to buy, take your time and research your options. Don’t buy from just any seller. Some of them are trustworthy and run a great business. But there are others that will overcharge you and may not even deliver your coins.
Be safe and do your research first. Find a trusted seller with a stellar reputation – there are quite a few of them out there. And remember the golden rule here – never invest more than you can afford to lose.
Is Bitcoin: Future of Currency?
Everyone is curious as to what bitcoin is and how one gets to earn it and spend it. Bitcoin is the most famous and biggest digital currency in the world regarding market capitalization and the market share where there are no intermediaries to handle the transactions. Microsoft Co-founder, Bill Gates has a lot of faith in Bitcoin to the point of saying, "Bitcoin is a technological tour de force."
According to Leon Louw, a Nobel Peace Prize nominee, every informed person needs to know at least about bitcoin since it has the potential to become one of the world's most significant developments.
One can buy bitcoins directly from other bitcoin users via marketplaces or through exchanges, and one pays for them through hard cash, credit or debit cards, electronic wire transfers, other cryptocurrencies, PayPal, et al.
• Wesellcrypto: - This site ranks high, and it is beginner friendly. It has a trust rating of B+, and you can buy bitcoins via your PayPal account.
• Bitquick: - This site is also beginner friendly allowing users to buy and accept payments for bitcoins via hard currency as well as bank transfers. It has a trust rating of B.
With bitcoins, you can anonymously buy merchandise; make cheaper international payments since the Bitcoins are not subject to regulation from any country. The bitcoin market is very volatile and more people are buying them hoping to make a profit when the price goes up.
Why the Cryptocurrency Dash Send Bitcoin to Shame
Bitcoin is the premier cryptocurrency of the world. It is a peer-to-peer currency and transaction system based on a decentralized consensus-based public ledger called blockchain that records all transactions.
Now the bitcoin was envisaged in 2008 by Satoshi Nakamoto but it was a product of many decades of research into cryptography and blockchain and not just one guy's work. It was the utopian dream of cryptographers and free trade advocates to have a borderless, decentralized currency based on the blockchain. Their dream is now a reality with the growing popularity of bitcoin and other altcoins around the world.
Now the cryptocurrency was first deployed over the consensus-based blockchain in 2009 and the same year it was traded for the very first time. In July 2010, the price of bitcoin was just 8 cents and the number of miners and nodes was quite less compared to tens of thousands in number right now.
Within the space of one year, the new alternative currency had risen to $1 and it was becoming an interesting prospect for the future. Mining was relatively easy and people were making good money making trades and even paying with it in some cases.
The magical figure of $1000 was first breached in January 2017 and since then it has increased four times already till September. It is truly a remarkable achievement for a coin that was only worth 8 cents just seven years back.
Bitcoin even survived a hard fork on August 1, 2017, and has risen nearly 70% since then while even the fork bitcoin cash has managed to post some success. All of it is due to the appeal of the coin and stellar blockchain technology behind it.
While coventional economists argue that it is a bubble and the whole crypto world would collapse, it is just not so. There is no such bubble since it is an observable fact that it has, in fact, eaten away the shares of the fiat currencies and money transaction corporations.
The future is extremely bright for bitcoin and it is never too late to invest in it, both for short-term and long-term.
Are These Bitcoin Basics?
Looking for a Bitcoin Buying Guide? Wondering where to start? People have a lot of misconceptions about bitcoin - the very first widely known and accepted cryptocurrency worldwide.
A lot of people think for example that only hackers and shady people use it. However bitcoin is actually going mainstream with everyone from TigerDirect to Expedia.com to Dell and even Subway accepting payments in bitcoin now.
Why so popular?
Well, bitcoin has a lot of benefits over other currencies. For example, you can send bitcoins to someone as payment without having to go through the bank middleman (and get hit with extra fees). It's also much faster than sending money via a bank wire or transfer. You can send bitcoins to someone and have them receiving the coins in seconds.
With all of this, it's no surprise that many people are now trying to buy bitcoin for the first time. However it's not as easy as going to your bank and withdrawing bitcoins - or going to a store and plunking down some hard-earned cash for bitcoin.
The system works a bit differently than that. This Bitcoin Buying Guide will go over a few things you need to know before you buy - so you can buy safely and securely.
Take your time and research the different places to buy before you decide. Factors to consider include coin prices, extra fees, method of payment and customer service.
#3 Buy Bitcoin and Move It To Your Wallet
Once you've found a place to buy, get your funds ready (i.e. you may send a wire transfer or use your Visa to fund your account). Then wait for a good price. (Bitcoin prices are always fluctuating 24 hours, 7 days a week). Then place your order when you're ready.
Once your order is filled and you have your coins, you'll want to send them to your wallet. Simply enter your bitcoin address and get the seller to send you your bitcoins. You should see them show up in your wallet within minutes to an hour (depending on how fast the seller sends them out).
Voila, you are now a bitcoin owner. You can now send coins to pay for other goods and services, or hang on to them for a rainy day.
One last thing to remember: bitcoin is still in its infancy. There are huge price swings and the currency can be risky. Never buy more bitcoins than you can afford to lose.
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