Table of Contents:
- 1. Introduction
- 2. What is mining and what makes Bitcoin the best cryptocurrency to invest 2018?
- 3. How to secure your Bitcoins? Use Bitcoin hardware wallets
- 4. How to get Bitcoins? Crypto exchanges
- 5. What else to do in order to earn Bitcoin? Use crypto signals!
- 6. What is Bitcoin? Now you know!
- 7. Summary
To put it simple, Bitcoin is the first cryptocurrency in the world, also known as a digital currency. It was introduced in 2009, so it is almost ten years on the market. Still, some people haven’t realized how influential this cryptocurrency can be. The main purpose of Bitcoin is to use is as alternative payment method for such standard currencies as Euro, Dollars, or Pounds. The thing that distinguishes Bitcoin as a currency from other possibilities is the fact that it is fully decentralized source. In other words, it is completely in the hands of the users, who “mine” Bitcoin and work for its fast and efficient operation. It is also worth to add that Bitcoin has got limited number of a cryptocurrency that will be “created”. As a result of that and the fact that it is a decentralized currency, Bitcoin will never be influenced by inflation.
What is mining and what makes Bitcoin the best cryptocurrency to invest 2018?
When we say “mining” in terms of Bitcoin, it refers to a process of creating a Bitcoin. To do that, it requires gigantic processing power. So huge, it is very inefficient to “mine” Bitcoin with the use of standard computers and specially prepared units take care of that. The reason why a lot of people learn more about mining Bitcoin is because it was rewarded with a chunk of Bitcoin itself. It is a self-sufficient procedure that not only lets us pay in a very fast way, but it also grants complete anonymity, what is yet another benefit of cryptocurrency over standard currency. Of course mining Bitcoin can be really profitable if you own companies and you possess special computing machines that can produce a lot of power. Nowadays it is much better to mine alternative cryptocurrencies, but their worth is much lower, making it very difficult to profit.
The reason why a lot of people believe Bitcoin is the Best cryptocurrency to invest 2018 because since the beginning, it never failed people’s expectations. We were promised to receive a method of payment that will work in incredibly fast way. In addition to that, Bitcoin is also the warranty of anonymity because first of all, it isn’t necessary to sign any transfers. The Bitcoin transfers take place with the use of specially generated codes that we use in order to pay through our virtual wallets. These wallets are either in the form of online sites, software, or hardware. We can, for example, change our USB flash drive into one of Bitcoin hardware wallets.
There are of course other advantages of using Bitcoin. One of other elements that people pay quite large attention to is safety of transfers. It is almost impossible to lose your digital money while making a Bitcoin transfer. If we compare Bitcoin to alternative cryptocurrencies (also known as alt coins), we should also mention the fact that this is the only stable and constantly growing cryptocurrency. All these advantages make it the Best cryptocurrency to invest 2018, because its value with only grow.
How to secure your Bitcoins? Use Bitcoin hardware wallets
Before we carry on and describe the benefits of using Bitcoin hardware wallets, let’s have a look at other potential ways of storing your funds. First of all, you ought to know that it is impossible to earn or spend Bitcoin without specially prepared wallet. It is because Bitcoin itself is a cryptocurrency and in order to make transactions, there must be several requirements fulfilled. Once we get a wallet, we will be able to store there private links, which give access to our currency. There is a division of these links on two sections – one, which shouldn’t be distributed anywhere, and the second, which we send to our trading partners.
Throughout all these years, there have been many different types of wallets. Some of them are more secured some are less. That is why it is very important to choose carefully in order to keep our funds safe. There are wallets in the form of applications, wallets offline, browser wallets, mobile wallets, and hardware wallets.
Wallets as apps are divided onto full and lights. Full app wallets are characterized by quite long synchronization time. It is safe solution, but rather slow and it isn’t recommended to new users. Light apps are much faster when it comes to synchronization and they do not require fast computers to work. Offline wallets are, as you can guess, without the access to the Internet what makes them very safe. They are also called safes, because their safety is at the maximum level. Browser wallets are much more interesting option for everyone, who is looking for quick and problem free payments. Unfortunately, in here often leave the safety measures to third parties, making it very dangerous type of wallet for larger quantities of Bitcoin. Mobile wallets are very similar to apps wallets. However, they are destined for mobile devices. We can use these wallets to pay in, for example, restaurants.
Fifth option, and in our view the most secured method of storing Bitcoin is hardware wallets. This method guarantees us safety at the highest possible level. Obviously, we are limited when it comes to the use of cryptocurrency and we cannot pay in restaurants, hotels, and other locations. However, it is still rather mobile way of storing our funds, since as long as we have the opportunity to plug in our USB driver, we can pay anyway.
How to get Bitcoins? Crypto exchanges
Cryptocurrency exchange is one of the best way of getting Bitcoins. It is also a great way to invest in a digital currency, since we receive there an access to many other coins, not only Bitcoins. Of course we have to remember to choose right crypto exchanges because in many cases services offer cryptocurrency exchange with heightened rates. As a result, we can lose quite a lot of money while exchanging money.
Crypto exchanges can also be used to earn bitcoins. This currency has got its value that is dependent on many different aspects. Because of that, its value is constantly changing. If you know a thing or two about gold trading or using market fluctuations at your advantage, then you should also be able to earn some funds thanks to cryptocurrency exchange.
If we were to recommend some particular Crypto exchanges, we would choose the ones that are on the market for the longest time. That is why it is much better to choose world wide cryptocurrencies rather the ones available at your country. It is because thanks to that we will have the guarantee of stable prices that are close to real, at least to the possible degree.
What else to do in order to earn Bitcoin? Use crypto signals!
Except for cryptocurrency exchange, which is very good idea not only when it comes to making an exchange but also to trade currencies, you should also have a look at cryptocurrency predictions. Crypto signals are special programs and services available throughout the Internet, where people share their opinions about the possible outcome of Bitcoins. Obviously, they do not share their Cryptocurrency predictions for free. In many situations they ask for subscriptions to their Crypto Signals.
In many cases these cryptocurrency predictions are legit and they can seriously help you out in trading and therefore in making money. However, as it usually happens with this type of relations, we are never 100% certain that firstly: these Crypto Signals will be legit; and secondly: we won’t get scammed. That is why we should watch out for services that offer cryptocurrency predictions without large number of users, who can confirm the legitimacy of the services that provide us with signals. Still, it is a great way of earning money, especially if you managed to find a source of crypto signals that in most cases are right and they do not assume any risky moves on the market of cryptocurrencies, which is in some situations hard to predict.
What is Bitcoin? Now you know!
There are a lot of things you ought to know about Bitcoin before you start your journey with this digital currency. The article you read above is just a glimpse of everything there is regarding Bitcoins. We decided to give you some basics regarding the currency, but if you wish to earn more, learn how Bitcoin exactly works, what miners do, what blockchain really is, and obviously how to behave on the exchange in order to not lose more of your currency.
Once you get to know with all these information, you will learn all the essentials about Cryptocurrencies and everything that surrounds this extraordinary world. If there is something not clear regarding the content we presented above, we highly encourage you to contact us via comment section or e-mail. In this way we will help you with any issue you may have and find an answer on all inquiries you may have.
Summary – Now you know what Blockchain is
A lot of people consider Blockchain as one of the most innovative and one of the most promising technologies that will dominate the market in recent years. However, we still have to remember that it is relatively new and to be honest – unpredictable piece of science that still needs further research and development. We should bear in mind that such technology exists and some day may become very important, or even mandatory for everyday lives.
We believe that the article presented above includes the most important elements of Blockchain and that thanks to our efforts, you will know how everything works, what are possible methods of utilizing blockchain, and what are the basic features thanks to which this technology works so well without any problems.