How To Invest In Bitcoin And Make Money For Beginners

source: coindecimal
12

Understanding How to invest in bitcoin and make money for Beginners is so complex. In 2009 Bitcoin was introduced together with blockchain. It was the first time the world was witnessing a genuinely decentralized payment system. Bitcoin first started as a currency meant to replace fiat money, but over time its value increased, making it a sort after commodity like gold. What is bitcoin? Bitcoin is a decentralized digital currency that can be exchanged electronically. It is bought, sold, and exchanged without the involvement of an intermediary. Satoshi Nakamoto described Bitcoin as “an electronic payment system based on cryptographic proof instead of trust.” Just like I stated above, it is a decentralized digital currency. This means all transactions made with Bitcoin are accessible by everyone on a ‘public ledger.’ Since it is public, Bitcoin transactions cannot be altered or manipulated. Why Bitcoin? Most financial news media has recently been buzzing with news about Bitcoin; it has also been a topic of discussion among friends and colleagues; this draws the question; why Bitcoin? For a start, Bitcoin has value thanks to scarcity. Its availability determines the value of a commodity; a readily available commodity will naturally lose value. Getting new Bitcoin is called mining, and mining is a complicated process that gets even more difficult by the day. Currently, there is only 18,740,718.75 Bitcoin in circulation. Continue reading at

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