Among the most trending topics all across the globe, Bitcoins is the one. Yep, you have heard it right, Bitcoins. Although Bitcoins is among the most popular trends worldwide, still, there are people who don’t know what the heck Bitcoin is and what they are used for.
If you are one those people, who are still confused about Bitcoin and wanted to know what you can do with them, then you have come to the right place. We have got you covered with everything that you need to know about Bitcoin and how they are useful for you.
What is Bitcoin Definition?
You might have read or searched for Bitcoins (BTC) aka Satoshis, but you still don’t exactly what kind of thing Bitcoin is. Well, in simple words, Bitcoin is a digital currency that is not printed and will never be. The idea of Bitcoin is exactly the same as PayPal and they are held electronically in the virtual wallets and nobody has control over it either. The Bitcoins are unique and are sovereign with their distinct rules.
The Bitcoin was broke into the world in the year of 2009 and was created by a Japanese Programmer, Satoshi Nakamoto, who published the proof of concept that really received the worldwide attention a year later. So why you need Bitcoin?
The Features of Bitcoin
Well, the popularity of Bitcoin all across the globe is due to its unique nature and its positive characteristics. Check them out.
- The Bitcoin is decentralized. That means it is not at all owned by any specific company, bank or organization. These types of cryptocurrencies are mined by the different software and make up a network.
- The Bitcoins are easy to set up, unlike the big bank accounts.
- It is anonymous. That means none of your personal or financial details are associated with this currency.
- It is completely transparent and it is really safe, unlike other currencies.
- Transaction fees of Bitcoin are also minute as compared to other bank’s charges.
- It is fast and very fast!
Not only this, you can even make money using these Bitcoins. Want to know how? Check out how to make money with Bitcoin Trading.
The Value of BitCoin in 2017
BitCoin has made many serious fluctuations in its trading price in the year 2017. BitCoin (BTC) has now crossed over $11000 mark. That means 1 BTC = $11000 and above. Since BitCoins are highly volatile that means they have very high risk, so there are lots of price variations in BitCoin trade value. You should read about Risks of Investment in BitCoin BTC Virtual Currency.
Bitcoin Trading – The Easiest Way to Making Money Online
As bitcoin is the easiest way to become your own bank, this does not mean that only it is limited to storing your own digital money balance. The Bitcoin is also extended to offer the financial services to the people by bitcoin trading. Now, you might be wondering what bitcoin trading is?
Well, the simple answer to this question is to get involved in trading Bitcoins for profit as an exchanger. For this, all you need is to join the peer-to-peer exchange marketplace, where you can buy and sell coins. And to make a profit, you just need to add a spread. For example, buying a coin at 2% lower rate and selling it at 2% higher rate.
In this method, you really need to understand the market dynamics. And if you are able to understand it, you will be able to make successful trades. Some trades also allow you to trade bitcoins using leverage, which can help increase your trading profit. Not only this, there are also a few broad categories of a trading strategy that might give you some idea of where to start from:
- Bitcoin Trading via Prediction Markets
- Bitcoin Trading via Fundamental Analysis
- Swing Trading
In short, you can earn big profits by trading Bitcoins brilliantly.