What is Bitcoin?
Bitcoin is one of the most popular cryptocurrencies in the world. It is a kind of money that is virtual. Bitcoin is the first cryptographic commodity, a blockchain that can be exchanged like cash. Trading bitcoin is easy and anonymous without a broker.
History of Bitcoin:
Bitcoin was created in 2009 by Satoshi Nakamoto. The creation of cryptographic protocol led to the creation of Bitcoin. It was the first digital money that used peer to peer electronic cash system. Like torrents, bitcoin and other crypto don’t have any separate servers. It uses a user computer to process the payments. This thing is used by bitcoin miners.
Where to buy Bitcoin?
There are many crypto wallets available in the market from where you can buy bitcoin and another crypto. Some of the best crypto wallets are official Bitcoin.com and Coinbase. These are reliable sites for buying bitcoin.
Why buy bitcoin?
Bitcoin is the most popular crypto. Many companies have bitcoin payments. A big company like tesla has already started taking bitcoin payments. Almost every big company accept bitcoin. They know bitcoin is taking over the place of normal bills. So what are you waiting for, want to earn money staying home? Buy bitcoin and start trading. Unlike the share market, there is no loss in Bitcoin. Because of the value’s ups and downs.
Is it safe?
It is safe to buy bitcoin and trade. Many crypto wallets will assist you when buying bitcoin. Just follow it. It is buying at its low rate and selling it at a high rate. So I don’t see any risk here. If the values go down. Don’t panic it will rise in a few days or weeks. When the prize is high at that time sell it. Like, buy bitcoin in when its value is around 1BTC= 40,000$ and keep it there. Keep an eye on every day and watch your wallet’s notification. When the rate is high usually it can reach up to 65,000$ in a single day. At that time hurry up and sell all the bitcoin. Easy money. Here you make a profit of around 25000$ with win few weeks or days. It is that simple. So go and start with a small amount. If you still don’t believe me then go buy 0.001 amount of bitcoin it will cost you around 40$ when its value is going down. When you are done testing you will get it. Then start with a big amount.
What is the Future of Bitcoin?
No government or organization controls bitcoin. That’s why its rate and it is by it left future proof. A company like tesla invested money in bitcoin. That’s obvious that bitcoin is something that tesla sees future. Besides, it uses peer-to-peer systems like torrents. No one can remove it. These are the reasons why I think bitcoin is future-proof. Don’t know about another crypto. So bitcoin is safe.
Darkside of Bitcoin:
If you understood the bitcoin payment system. Then you know that it is impossible to find out a payment sender or receiver. Its algorithm uses the blockchain method. Which generates so many unique numbers and other miners who give their machines or device to complete the other payment process try to guess that unique number. It’s up to luck if their machine can guess that number then the payment will be processed using their machine and they will get a small amount bonus for that. And every receiver has a unique alphanumeric id which is called a bitcoin address. Where they receive their payments. It just can not be tacked or tracked. This is the loop whole of bitcoin. It can protect one’s privacy. On the other hand, criminals can take advantage of this. They do. Maybe you know about Dark Web. The dark web is a place where every type of illegal and criminal thing is happening. Like illegal weapon dealing, hiring hackers, hiring hitmen, child abuse, and so on. Where do they take payments? Did you ever think of that? All of them take bitcoin as payment. That’s why no one can even trace or know their identity. Even the sender will also be safe if they pay through bitcoin. This is the safe game they’re playing. Trending topics like the blue whale game were also accepting payments in bitcoin. Many pirated torrent sites are using the bitcoin method for donations. I mean all sorts of digital-based crimes are now getting done using bitcoin.
Bitcoin Mining (Is it profitable):
I already described what bitcoin mining is. Now I will tell you if it is profitable or not. Technically it is profitable. But for that, you will have to set a lot of things. Professional level mining machine will cost you more than 2000-3000$ on your entry-level. Then using that running 24/7 you can earn 2-3$ each day. If you can invest more in buying more machines and components you may have a chance to make more earnings. There is some big mining server in the world who has millions of dollar invested in their machines. But in bitcoin mining, it doesn’t mean that if you have high components you will make the game. It doesn’t roll that way. It’s all about guessing the unique numbers. And there is too much competition on this. Can’t say exactly which machine going to guess the number first. It’s on your luck. But there are too many payments in the world every second. You may have a chance there. Some people started mining at the entry level using their phones. Gathering 4-5 phones and letting them mine 24/7 and now those people creating their servers for mining. You gotta start with something small. If you wanna start then do it right now. Do Google, do some research, and make a plan based upon that. Hope this helps you get started with bitcoin mining.
Restrictions in Bitcoin:
There are some countries where bitcoin isn’t allowed yet. From there you can’t trade or buy bitcoin. You can access that thing. There is one way. Start using a VPN of us. Then use your credit card to buy a virtual credit card online. Use that virtual credit card to buy bitcoin and start your bitcoin trading. Start earning money.
Hope this article answers all of your questions about bitcoin. And also removes all the misconceptions about bitcoin. So good luck with your bitcoin trading.