If you are here, you must have heard about Bitcoin. You can say Bitcoin is a first decentralized money system used for the internet transactions, however, it can probably be very useful to dig deeper. Many people invest think of investing in Bitcoin, if you have the same interest, make sure you regularly check the bitcoin price. Let’s us understand in deep.
How did it start?
Concept of cryptocurrency and Bitcoin, was started in the year 2009 by Satoshi, unknown researcher. Reason for this invention was solving an issue of centralization money usage that relied on the computers and banks, and an issue that a lot of computer scientists were not very happy with. Thus, achieving decentralization is attempted since late 90s without any success, and when Satoshi published the paper in the year 2008 offering a great solution, it was welcomed overwhelmingly. Now, Bitcoin has become the familiar currency for the internet users as well as has given rise to many ‘altcoins’ (or non-Bitcoin cryptocurrencies).
How’s Bitcoin made?
The digital currency is made through the process known as mining. Like the paper money is created through printing & gold gets mined from ground, Bitcoin is made by ‘mining’. And mining involves solving complex mathematical problems about blocks using the computers & adding it to the public ledger. While it started, simple CPU was only required to mine, but, the difficulty level has increased hugely, so now you will require specialized hardware, which includes high end GPUs or Graphics Processing Unit, to extract Bitcoin.
How shall I invest?
Firstly, you need to open a bank account with the trading platform as well as create the wallet; you may find a few examples by searching over Google for the ‘Bitcoin trading platform’ – generally they have got names involving ‘market’ or ‘coin’,. After joining these platforms, you need to click on assets, and click on the crypto to select your desired currencies. There’re many indicators on each platform, which are very important, so you must make sure you observe it before investing.
Just buy & hold
Whereas mining is a surest and, simplest way of getting Bitcoin, there’s a lot of hustle involved, and cost of the specialized computer hardware and electricity makes this inaccessible to many people. In order, to avoid this, directly input an amount that you want from the bank & click on “buy’, and sit back & watch your investment to increase according to its price change.