Qutomatic Follow Apr 17
· 9 min read
Step 1 — Understanding Bitcoin And The Block-Chain
Bitcoin is a peer-to-peer payment system, otherwise known as electronic money or virtual currency.It offers a twenty-first century alternative to brick and mortar banking.Exchanges are made via “e wallet software”.The bitcoin has actually subverted the traditional banking system, while operating outside of government regulations.
Real Life Bitcoin Investment Strategies Bitcoin uses state-of-the-art cryptography, can be issued in any fractional denomination, and has a decentralized distribution system, is in high demand globally and offers several distinct advantages over other currencies such as the US dollar.For one, it can never be garnished or frozen by the bank(s) or a government agency.
Back in 2009, when the bitcoin was worth just ten cents per coin, you would have turned a thousand dollars into millions, if you waited just eight years.The number of bitcoins available to be purchased is limited to 21,000,000.At the time that this article was written, the total bitcoins in circulation was 16,275,288, which means that the percentage of total bitcoins “ mined ” was 77.5%.
at that time.The current value of one bitcoin, at the time that this article was written, was $1,214.70 USD.
According to Bill Gates, “Bit coin is exciting and better than currency”.Bitcoin is a de-centralized form of currency.There is no longer any need to have a “ trusted, third-party ” involved with any transactions.By taking the banks out of the equation, you are also eliminating the lion’s share of each transaction fee.
In addition, the amount of time required to move money from point A to point B, is reduced formidably.
Getting Ready For Bitcoin Trading The largest transaction to ever take place using bitcoin is one hundred and fifty million dollars.This transaction took place in seconds with minimal fee’s.In order to transfer large sums of money using a “trusted third-party”, it would take days and cost hundreds if not thousands of dollars.This explains why the banks are violently opposed to people buying, selling, trading, transferring and spending bitcoins.
Only.003% of the worlds (250,000) population is estimated to hold at least one bitcoin.
And only 24% of the population know what it is.Bitcoin transactions are entered chronologically in a ‘blockchain’ just the way bank transactions are.Blocks, meanwhile, are like individual bank statements.In other words, blockchain is a public ledger of all Bitcoin transactions that have ever been executed.It is constantly growing as ‘completed’ blocks are added to it with a new set of recordings.To use conventional banking as an analogy, the blockchain is like a full history of banking transactions.
Bitcoin Investing Best Practices Step 2 — Setting Up Your E Wallet Software Account
As soon as you create your own unique e wallet software account, you will have the ability to transfer funds from your e wallet to a recipients e wallet, in the form of bitcoin.If you would like to use a bitcoin ATM to withdraw funds from your account, essentially you will link your e wallet ‘address’ to the chosen ATM machines e wallet ‘address’.To facilitate the transfer of your funds in bitcoin to and from a trading platform, you will simply link your e wallet ‘address’ to the e wallet ‘address’ of your chosen trading platform.
In actuality, it is much easier than it sounds.
The learning curve in relation to using your e wallet, is very short.
3 Important Things You Should Know About Cryptocurrency To set up an e wallet, there are a myriad of company’s online that offer safe, secure, free and turn-key e-wallet solutions.A simple Google search will help you find the right e wallet software for you, depending upon what your needs are exactly.Many people get started using a “blockchain” account.This is free to set up and very secure.You have the option of setting up a two-tier login protocol, to further enhance the safety and security, in relation to your e wallet account, essentially protecting your account from being hacked into.
There are many options when it comes to setting up your e wallet.
A good place to start is with a company called QuadrigaCX.You can find them by doing a Google search.
Quadrigacx employs some of the most stringent security protocols that currently exist.Furthermore, Bitcoins that are funded in QuadrigaCX are stored in cold storage, using some of the most secure cryptographic procedures possible.In other words, it is a very safe place for your bitcoin and other digital currencies.
4 Things You Should Know Before Investing in Cryptocurrency In order to withdraw money in your local currency, from your e wallet, you are required to locate a bitcoin ATM, which can often be found in local businesses within most major cities.Bitcoin ATM’s can be located by doing a simple Google search.
Step 3 — Purchase Any Fractional Denomination Of Bitcoin
To buy any amount of bitcoin, you are required to deal with a digital currency broker.
As with any currency broker, you will have to pay the broker a fee, when you purchase your bitcoin.It is possible to buy.1 of of bitcoin or less if that is all that you would like to purchase.The cost is simply based on the current market value of a full bitcoin at any given time.
5 Cryptocurrency Investment Tips That You Should Know There are a myriad of bitcoin brokers online.A simple Google search will allow you to easily source out the best one for you.It is always a good idea to compare their rates prior to proceeding with a purchase.You should also confirm the rate of a bitcoin online, prior to making a purchase through a broker, as the rate does tend to fluctuate frequently.
Step 4 — Stay Away From Any Trading Platfrom Promising Unrealistic Returns To Unsuspecting Investors
Finding a reputable bitcoin trading company that offers a high return is paramount to your online success.
Earning 1% per day is considered a high return in this industry.Earning 10% per day is impossible.With online bitcoin trading, it is feasible to double your digital currency within ninety days.You must avoid being lured by any company that is offering returns such as 10% per day.This type of a return is not realistic with digital currency trading.There is a company called Coinexpro that was offering 10% per day to bitcoin traders.And it ended up being a ponzi scheme.
If it’s 10% per day, walk away.The aforementioned trading platform appeared to be very sophisticated and came across as being legitimate.My advice is to focus on trading your bitcoin with a company that offers reasonable returns such as 1% per day.There will be other companies that will attempt to separate you from your bitcoin using unscrupulous methods.Be very cautious when it comes to any company that is offering unrealistic returns.
Once you transfer your bitcoin to a recipient, there is literally nothing your can do to get it back.You must ensure that your chosen trading company is fully automated & integrated with blockchain, from receipt to payment.More importantly, it is crucial that you learn to differentiate legitimate trading opportunities from unscrupulous “company’s” that are experts when it comes to separating it’s clients from their money.The bitcoin and other digital currencies are not the issue.It is the trading platforms that you must exercise caution with, prior to handing over your hard-earned money.
Easy Tips for Getting Started in Cryptocurrency Trading Your ROI should also be upwards of 1%+ per day because the trading company that you are lending your bitcoin to, is most likely earning upwards of 5%+ per day, on average.Your ROI must also be automatically transferred into your “e-wallet” at regular intervals, throughout your contract term.
There is only one platform that I feel comfortable using.It pay’s each bitcoin investor/trader 1.1% per day in interest as well as 1.1% per day in capital.This type of a return is staggering compared to what you would earn with traditional financial markets, however, with crypto currency, it is common.
Most banks will payout 2% per year!
If you are required to conduct tedious activities such as logging into your account, sending e mails, clicking on links etc, you definitely need to keep searching for a suitable trading company that offers a set-it-and-forget-it type of platform, as they absolutely exist.
How Bitcoin Works Bitcoins are a decentralized form of crypto currency.
Meaning, they are not regulated by a financial institution or the government.As such, unlike a traditional bank account, you do not need a long list a paperwork such as an ID in order for you to establish what’s known as a bitcoin wallet.The bitcoin wallet is what you will use to access your bitcoins and to send bitcoins to other individuals.
How To Setup An Account
You can acquire a bitcoin wallet from a bitcoin broker such as Coinbase.When you open up a wallet through a certified broker, you are given a bitcoin address which is a series of numbers and letters, similarly to an account number for a bank account and a private key which is a series of numbers and letters as well, which serve as your password.
The Top Things to Avoid with Cryptocurrency Investing How Does Bitcoin Work As An Anonymous Payment Processor
You can do 3 things with bitcoins, you can make a purchase, send money anonymously to someone or utilize it as an investment.More and more merchants have been accepting bitcoins as a form of payment.By utilizing bitcoins instead of cash, you are essentially making that purchase anonymously.
The same thing goes for sending money, based on the fact that you do not have to submit a mountain of payment in order for you to establish a bitcoin anonymously, essentially you can send money to someone else anonymously.
How Does Bitcoin Work As An Investment
The price of a bitcoin fluctuates from time to time.Just to put things in perspective, back in the beginning of 2013, the average price of a bitcoin was approximately $400 per bitcoin, but by the end of 2013, the price for bitcoin rose to over $1000.
This meant that if you had 2 bitcoins worth $800 in the beginning of 2013 and you stored it as an investment by the end of 2013 those two bitcoins would have been worth over $2000 instead of $800.Many people store bitcoins due to the fact that the value of it fluctuates.
Bitcoin Casino and Poker Sites
Due to the anonymity of bitcoin the gambling industry has taken up bitcoin as a payment method.Both bitcoin casinos and bitcoin poker sites are coming to life and offering their players to make deposits, play with bitcoin at the tables and withdraw directly to their bitcoin wallet.This means that there’s no taxes or possibilities for government control.Much like a regular Nevada casino where do you don’t need to register anywhere and all your transactions are anonymous.
How Do You Send Bitcoin
In order for you to pay for goods and services or to send bitcoins to an individual, 3 things are needed.Your bitcoin address, your private key and the individual’s bitcoin address.
From that point, through your bitcoin wallet, you will put 3 pieces of information, which are: input, balance and output.Input refers to your address, balance refers to the amount of bitcoins you are going to send and output is the recipient’s address.
Top 4 Tips tp Start Trading Cryptocurrencies Learn more about how it works and find bitcoin casinos and bitcoin poker sites at RealMobileCasinos.com.
Here we explain further about how to use this currency and how everything works with the wallet and where to best get your own wallet.We also explain further on the use for online casino and also for other areas.This is a very exciting currency.With many possible areas of usage.
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Understanding 3 Different Types of Blockchain Technology Article Source: http://EzineArticles.com/9688257.