What is Bitcoin?
If you are here, you’ve heard of Bitcoin. This has become one of the main headlines is often the biggest for the past year or more – as a rich fast scheme, finance finance, the birth of a truly international currency, as the end of the world, or as a technology that has been enhanced by the world. But what is Bitcoin?
In short, you can say Bitcoin is the first system of decentralization of money used for online transactions, but it might be useful for digging a little deeper.
We all know, in general, what is ‘money’ and what it is used for. The most significant problem witnessed is used by money before Bitcoin is related to that is centrally and controlled by a centralized banking system. Bitcoin was created in 2008/2009 by unknown creator who left with the pseudonym ‘Satoshi Nakamoto’ to bring decentralization for money on a global scale. The idea is that currencies can be traded across internationally with no difficulties or costs, checks and balances will be distributed throughout the world (not only in large books from private or government companies), and money will become more democratic and can be accessed by all.
How do Bitcoin start?
Bitcoin concepts, and cryptocurrency in general, began in 2009 by Satoshi, a researcher was unknown. The reason for the invention is to solve the problem of centralization in the use of money that relies on banks and computers, a issue that many computer scientists are not happy with. Reaching decentralization has been sought since the late 90s it was unsuccessful, so when Satoshi published a paper in 2008 provided a solution, it was very welcomed. Today, Bitcoin has become a foreign currency for internet users and has given birth to thousands of ‘Altcoins’ (non-bitcoin cryptocurrencies).
How did Bitcoin made?
Bitcoin is made through a process called mining. Just like banknotes made through printing, and gold mined from the ground, Bitcoin made by ‘mining’. Mining involves solving complex math problems about blocks using computers and adding them to general public books. When it starts, the CPU is simple (like that on your home computer) is all that is needed for mine, however, the level of difficulty has increased significantly and now you will need special hardware, including the High End Graphics Processing Unit (GPU), for Bitcoin extract.
How do you invest?
First, you must open an account with a trading platform and create a wallet; You can find several examples by searching Google for ‘Bitcoin trading platforms’ – they generally have a name involving ‘coins’, or ‘market’. After joining one of these platforms, you click on the asset, and then click on the crypto to choose the currency you want. There are many indicators on each of the platforms that are quite important, and you must be sure to observe them before investing.
Just buy and hold
While mining is the most certain and, by the way, the simplest way to get bitcoin, there are too many crowds involved, and the cost of electricity and special computer hardware makes it inaccessible for most of us. To avoid all this, make it easy for yourself, directly input the amount you want from your bank and click “buy ‘, then sit back and watch as an increase in your investment according to price changes. This is called exchanging and takes place on a lot of exchange of platforms Available at this time, with the ability to trade between different fiat currencies (USD, AUD, GBP, etc.) and various crypto coins (bitcoin, ethereum, litecoin, etc.).
If you are familiar with stocks, bonds, or forex exchanges, you will easily understand crypto-trades. There are Bitcoin brokers like e-Social trade, FXTM Markets.com, and many others you can choose from. The platform provides you with bitcoin-fiat or fiatcoin currency pair, for example BTC-USD Bitcoins trading facilities for the US dollar.