Introducing you to the World of Bitcoins
In an era where everything is being digitized, it is only natural that people prefer digital payments. In the conventional sense, digital payments involve the digital transfer of funds from one account to another.
The FIAT currency system is a legally accepted system that is used predominantly in the world. This was introduced and accepted widely as the mode of payment while there are different currency exchanges within this system.
Traditional digital payments simply move this FIAT money from one account to another.
This is a new currency system like the FIAT currency system, only that everything is digital. Instead of viewing it as a replacement for the FIAT system people have started looking at it as a potential way to complement the FIAT currencies.
When we talk about cryptocurrencies in general Bitcoins are the most popular cryptocurrencies you should know about. There have been numerous other cryptocurrencies introduced in the market.
Being the very first cryptocurrency that was ever used in the market, it is only natural that there are many who still favor the Bitcoins.
How to Choose a Reliable Bitcoin Robot?
The rise of Bitcoin gave way to the creation of exchanges and investment platforms because cryptocurrencies quickly became viewed as assets good for trading and profiting.
That being said, it’s become increasingly difficult to find the best robot that can help you join that trading craze. It requires tons of research and effort to carefully select the proper systems and tools. The ones that will truly help you assert yourself as a trader, regardless of your previous experience.
This is the first thing to look for in investment platforms – to be user-friendly. The Bitcoin Loophole, for example, has been admittedly one of the most user-friendly investment systems.
This doesn’t mean that its biggest competitors are not following closely. For example, Bitcoin Profit and the other big name of the industry – the Bitcoin Code, have all made a name for themselves, for being users’ top choice.
Being user-friendly is not the only thing these top crypto bots have in common. They’ve made their place among the best because of the superior technology used to help them run, and the proven results they can generate.
Even if you don’t have enough knowledge or you lack previous experience, such crypto bots will help you achieve your investment goals. So if you’re looking for a partner for cryptocurrency investments, you have your options.
Answering The Question ‘What Is A Bitcoin’ For The Absolute Beginners
Bitcoin is a digital token, a form of electronic cash that can be used as the conventional FIAT currencies. This can be used to make transactions like purchases or even to carry out trading. There are no central governing exchanges involved. The digital tokens here are sent from the sender directly to the receiver.
With your FIAT currency, you have bank accounts to hold your money and your wallet to hold what you withdraw. What do you do and how do you store your Bitcoins? This is where the cryptocurrency wallet comes into the picture.
A cryptocurrency wallet is simply a digital wallet where you can store all your cryptocurrencies like Bitcoins. There are various types of wallets like mobile wallets, online wallets, hardware wallets, a desktop wallet, and a paper wallet.
These allow you to store different cryptocurrencies and secure them with a password or other authentication process. These allow you to store and access as well as execute transactions with your cryptocurrencies, Bitcoins in this case.
When we say that your Bitcoins are stored in a wallet there are not real assets being stored. The virtual addresses that denote your Bitcoins would be stored. As this whole system works on the concept of Blockchain there are individual blocks added to the chain for every transaction that happens.
So checking the trail gives a gist of the entire history of transactions. No one can meddle with the chain or remove a block. Only new blocks can be added. There is a public key and a private key that is linked with the wallet or your cryptocurrency account. The private key is something that only you would know. Securing that private key secures your crypto assets.
A Brief History of How It All Began
Hearing the story about the origins of Bitcoins would simply put you in awe. Did you know that the authenticity of the true identity of Bitcoin creator still remains an unsolved mystery?
A paper titled ‘Bitcoin: A Peer-to-Peer Electronic Cash System’, by Satoshi Nakamoto was published in the year 2008. This proposed a method of carrying out financial transactions in a peer to peer mode using electronic cash.
The method was proposed so as to make transactions quicker and to reduce the need for middlemen in transactions.
Mining and transactions using Bitcoins first started on a public level in the year 2009. This was how Bitcoin was introduced and the rest is history!
Where can you find Bitcoins?
The one main question that most people who start exploring Bitcoins have on their mind is ‘Where should I begin?’. That’s right if there is no central authority that deals with Bitcoins where do you find them?
- Look for Credible Exchanges
There are many reliable cryptocurrency exchanges that operate all over the world. Look for an exchange that allows you to buy Bitcoins for FIAT currencies. (There are some which only allow cryptocurrency payments for other cryptocurrency purchases) Buying from a reputed exchange is the safest way to accumulate Bitcoins. It is also a very straightforward process.
- Bitcoin ATMs (BATM)
There are kiosks located in various places to deliver Bitcoins. You can convert your FIAT currency to Bitcoins in these kiosks. You would be able to directly deposit cash or even carry out a digital fund transfer to make a payment.
- Bitcoin Mining
This is the other most popular method of earning Bitcoins. Bitcoins are digital tokens. There are some online sources that reward you with Bitcoins for carrying out small tasks. There are also mining algorithms that can help you look for various sources. Mining for Bitcoins can be slightly more tedious than the other methods.
But if you wish to start with zero investment and start developing a stable Bitcoin wealth then this is your best bet. There are Bitcoin faucets which are free sources of Bitcoins.
Bitcoin for Transactions
Bitcoin transactions are very interesting to study. When there is tangible money or a reserve like a bank account that holds the money, only people with access to it can spend it. But when it is all in the air, like in the case of Bitcoins where nothing is on paper, how do you track transactions?
Once you initiate a payment the validity of the chain would be verified. This step happens so as to ensure that you are paying with Bitcoins that have not been used already. Remember that the chain holds the entire history of everything that happens with the Bitcoins! Once your payment request is found to be an authentic one, a block is created to be added to the chain.
There is a hash of the preceding blocks in each of the added blocks. This is how continuity is maintained. Therefore for anyone to tap into the system or steal Bitcoins the chain should be compromised.
The block links should be broken which is quite close to impossible, especially as the chain gets bigger. Bitcoins have been around for a while now. This makes them feel more secure to transact with.
Bitcoin for Trading
Trading in cryptocurrencies takes place on similar lines like trading in FIAT currencies. In the case of financial currencies, there are indices against which the value of a given currency is determined.
You would then be trading on various currency pairs. The performance of the currency determines the type of profits or losses you make. With the cryptocurrency or Bitcoin trading, the concept is even simpler.
The value of Bitcoin at any given point, and it’s past and future change in value influence your trading performance. You buy Bitcoins. You then wait for the value of Bitcoins to increase and allow a profit margin.
You then sell your Bitcoins for a price higher than the amount you had spent while buying it. This is how you reap your profits.
People who had invested even a small amount say a few hundred dollars in Bitcoin way back when it was introduced have become millionaires. This is owing to the rapid multiplication in the value of Bitcoins.
Today some say that Bitcoin value is a bubble that is likely to burst at any time. Some believe that it has already grown and reached saturation. Some feel that there is still hope for Bitcoin investors. Leaving aside the market performance, cryptocurrencies are slowly catching up as transaction instruments.
There are various places where you can make online payments with cryptocurrencies. Bitcoin is one of the most widely accepted cryptocurrency. Therefore buying a Bitcoin is still a good decision.
Why Should You Use Bitcoins?
Whenever the demand and supply are not balanced there is always some form of activity that takes place. There is an ever-growing demand for Bitcoins but the supply is still scarce. Therefore there is still scope for an increase in the value.
Remember that Bitcoin spending and trading is not just another fad you can brush aside. It is a gold mine that many are exploring already. Consider including a part of your investment in the cryptocurrency sphere as well. Bitcoins have already made it big. So if you choose to invest in Bitcoins now, when the field gets more competitive, you would not be lagging.
What Is Auto-Trading?
Auto-trading has been devised to make it easier for ordinary people to gain access to the lucrative investment field. It is a type of trading carried out with sophisticated programs. Buy and Sell trades are made automatically through an underlying algorithm.
Known also as algorithmic trading, automated investments are carried out using robots. These robots have powerful codes that can make forecasts about assets’ values and make decisions accordingly. Robots reduce to a minimum the margin of error that comes with human emotions and give you a hands-free experience.
With autotrading, you are able to capitalize on market opportunities and profit in real-time. But for that, you will need a reliable partner and not a scam robot. Our team of testers and traders constantly researches new trading bots to provide you with up-to-date info about their current performance and reliability.
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|Official Website URL||
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Open FREE Demo: BitCoin ERA
|Deposit & Withdrawal Methods||Visa, Master, Paypal,WebMoney, Qiwi Walet, OK Pay, Perfect Money|
|Number of Assets||80+|