To understand what Bitcoin is, you must first understand what cryptocurrency is. Currency is a system of money, therefore cryptocurrency is a digital system of money. The most alluring part of this type of virtual money system is that your assets are not owned by any authority except your own. No bank or government or other higher power has control over or even access to your cryptocurrency. Bitcoin is to thank for this market as it is the first, and most popular, form of cryptocurrency worldwide.
Now Bitcoin isn’t too complicated; it is used exactly how “regular” money is used. The big difference between Bitcoin and cash is that the value is subject to change. It’s not just small changes either, like the slow inflation of our traditional currency. It has many ups and downs in terms of values, and they can change every few months.
Back on the subject of Bitcoin usage, owners can use their cryptocurrency, including Bitcoin, to trade, invest, or purchase all sorts of things all over the world. Because all of these transactions take place over the internet, it gives Bitcoins users flexibility. They are not limited to spending on certain places. Plus, there is no surprise in differences in international exchange rates because Bitcoin values are identical worldwide!
Finally, what attracts the most people was mentioned earlier. The fact that Bitcoin is a decentralized currency is a big deal. This allows individuals to be completely in control of their own assets. It definitely makes people more comfortable, knowing they have full control over their money. Now even though it is a big part of it, there’s a lot more to Bitcoin than that. The present Bitcoin Marketing is ever-growing and increasing in popularity each day. The thing is, to understand how Bitcoin works now, it’s vital to know how it started.
If you know the basics about Bitcoin, you probably know that it began in 2009. This is true, but the idea of Bitcoin was actually introduced to the world in October of 2008 by a person or persons under the fake alias of Satoshi Nakamoto. It was sent on a simple cartography messaging platform. Nakamoto sent an email and on it was a white paper titled ¨Bitcoin: A Peer-to-Peer Electronic Cash System.¨ It didn’t seem like it then, but those papers held the recipe to the world's top digital currency. Because these papers held the concept of the very first cryptocurrency: Bitcoin.
The document's main and most important point was that this new cryptocurrency would be decentralized and digital. Decentralized meaning the currency was not owned by any authoritative party. Instead, it could be owned completely by the individual who earned it. This allowed anyone to trade, send, or buy cryptocurrency from others without having their money pass through a bank or other third party.
It was then, in January of 2009, that this blockchain was put in motion; the first block was called the genesis block. In the beginning, Bitcoin had close to no value. It was so low that the trading of the cryptocurrency was for fun most of the time. Only a year later, when someone decided to substitute Bitcoins for money, the cryptocurrency finally established a value compared to “real” money. When it first started out, a Bitcoin was valued at one-quarter of a penny.
That fact that it was ever that low is shocking now that it's known for its crazy jumps in value. Now, a single Bitcoin has been known the be worth tens of thousands at its highest value. This new idea to have a decentralized cryptocurrency was responsible for the start of other types of cryptocurrencies. Now there are over 4000 types of digital currencies and whole platforms dedicated to trading them. It all started with an anonymous email and à cryptocurrency work a quarter of a penny. Now it’s one of the largest markets in the world.
As mentioned above, everything Bitcoin happens online. Virtual spending, virtual sending, and virtual trading can all be processed through Bitcoin. It's the online version of money with some free differences. Instead of sending money through your bank, you are able to do peer-to-peer transactions directly and easily. Although, spending Bitcoin at certain shops or specific countries can be a hassle. There are many stores that don’t take Bitcoin as a valid currency and some countries have banned it completely.
The Bitcoin that you own is stored in a sort of virtual wallet on your phone or another device. Sending and receiving money from others is very easy with Bitcoin but, with no authoritative person looking over these trades, some people find the process a little sketchy. Bitcoin creators took this into account and that is why every single transaction is recorded on a public platform. This platform is called a blockchain. This allows everyone to be able to track and trace the spending history of Bitcoins. With this information, it’s easy to catch perpetrators if there is any misuse of the currency going on.
Now even if you know how Bitcoin works, it doesn't matter much if you don’t have any.
This part is fairly simple. You can purchase Bitcoins with regular currency/everyday money. Another option is to sell things to others and have them pay you in Bitcoins. You can also create Bitcoins. Technically Bitcoins can be created from a computer. People can use their devices to do transactions for others and for that, they may be rewarded with a Bitcoin. But the computer option could be complicated and is not a popular way of acquiring Bitcoins.
The Bitcoin industry is growing every day, so these cryptocurrencies are getting more available. Although, it could be difficult to get Bitcoins for a number of reasons.
Bitcoins can cost from hundreds of dollars to thousands of dollars every given day. Buying even one Bitcoin is an investment that people shy away from at first because of the high price. An investment requires research and in doing their research, these people would realize Bitcoin is a great investment. The industries don't seem to stop growing anytime soon. It's pretty solid.
Now, on the opposite end, maybe no one wants to sell their Bitcoins to you. If a Bitcoin is projecting a skyrocket in value, people do not want to sell an asset if it is about to be worth a lot.
So technically getting Bitcoins isn't difficult. Getting them for a cheap price, however, is more of a challenge.
This is a frequently asked question. Many people worry that since this currency isn’t controlled by the government or a bank, it is easy to lose track of or get stolen from. This is not necessarily true; because every single transaction is recorded on a public platform, stolen or duplicated bitcoins are very rare.
In fact, your Bitcoin transactions may be a safer way to use your money. Especially with cyberattacks getting more prominent, having a public server lowers the possibility of fraud. With public servers, hackers have no way to steal without being seen.
Now of course there is a chance you can lose the Bitcoins in your wallet or delete them by accident, but other types of currency have similar risks. Now there is the issue of the value of Bitcoin. Sometimes Bitcoins can be worth thousands of dollars and other times, this price can drop into hundreds.
The thing is that this process is very similar to that of stocks and if one is well informed and educated on how to use their currency, they shouldn’t be too worried.
There are numerous reasons why you should invest in Bitcoin. As mentioned many times, Bitcoin is yours and only yours. It doesn’t belong to a bank and therefore they have no right to retain any of your funds. Whatever Bitcoin you earn is entirely yours, too. This is a big reason a lot of people decide to invest in currency and it’s a smart one too. Do you want to be in control of all your assets at all times? Bitcoin is the perfect thing to invest in.
You may be questioning what makes Bitcoin different from other cryptocurrencies. They are all digital money and decentralized, so what makes Bitcoin any different? Bitcoin is different because it is far safer than other cryptocurrencies. It was the very first form of digital currency created and has had more time to grow and become stable. Bitcoin networks are usually way more secure than other cryptocurrency markets. Its infrastructure is superior, and this only adds to the stability of the network! Not only that, but Bitcoin prioritizes protecting all of its users which makes it one of the safest cryptocurrencies on the market.
With a market like that, it’s hard to believe it could get even better. But it can because paired with the right platform, and your Bitcoin journey is going to be one you never forget.
British Bitcoin Profit is a platform that comes with many different features to make traders’ Bitcoin transactions easier. We have a transparent platform that makes and keeps transactions safe and simple.
Now you are already saving money by investing in Bitcoin and saving money that would otherwise be retained by your banks. Well, British Bitcoin Profit biggest feature is our built-in AI. This technology is made up of advanced training algorithms which simplify many parts of trading that would otherwise be difficult.
So you see, British Bitcoin Profit is not just for expert traders. We don’t say we’re inclusive and then make it hard for beginners to learn how to trade. Our AI algorithms are set specifically for newcomers. It studies the data and helps you trade. You don’t have to have any sort of background of Bitcoin and British Bitcoin Profit is always going to welcome you. Our platform is open to everyone from beginners to intermediate and expert traders.
Even if you are an expert on our platform, our AI algorithms can make your trading less stressful. British Bitcoin Profit does much of the work for you.
Using a trading platform makes for a better experience. Using British Bitcoin Profit specifically makes that experience comfortable and easy. If you are an experienced trader, you probably get tired of analyzing data, trying to pinpoint the best moments to buy or sell your Bitcoin.
With British Bitcoin Profit you can take a break. Use the time you spent previously depicting algorithms for other things. The platform handles it all while you can do the bare minimum without sacrificing your time.
If you are a beginner, don’t get overwhelmed in the face of all of the trading and strategy that goes into Bitcoin trading. Instead of having to research strategy as you go along, you are able to learn from experience when our automated artificial intelligence helps you out. You can learn from the robot’s insights and eventually become an expert yourself.
Like anything else, the way you can become an expert at Bitcoin trading is practice and precision. With British Bitcoin Profit you can practice by paying attention to how the AI analyzes the data and forms its insights. There is nothing more precise than a robot and learning from our platform helps turn dedicated traders into pros.
You can take your time with learning or dive right into; you are always going to have the help of our platforms AI. Depending on your commitment to learning, the you could understand trading algorithms yourself in just a few months.
Bitcoin start growing over a decade ago and it hasn’t stopped since. The world seems to be moving more towards digital currency, and it’s bringing Bitcoin along for the ride. Bitcoin is not yet an accepted form of currency everywhere, but many proponents can see this cryptocurrency taking over the currency market.
Some even see the potential of Biticoin taking over as the main form of currency. As mentioned above, many of people assets are already online. They use cards to pay for everything. Online banking is now the new normal. Bitcoin is exactly the same; its a new form of virtual banking. Except the bank is your wallet and there is no third party you give it to involved.
Of course, there are a lot of differing views on the topic. Critics view Bitcoin trading as an unstable form of currency, but when the market doesn’t seem to stop growing, it’s hard to believe it isn’t going to be a principal part of currency in the future.
Now is your chance to join the ever-growing platform of Bitcoin trading. Whether you are a beginner or an expert or somewhere in between, British Bitcoin Profit is the platform that can make your experience the best one yet.