Bitcoin Miracle

How to invest in Bitcoin 2018

How to invest in Bitcoin

How to invest in Bitcoin

Cryptocurrencies are becoming more and more famous and sparking the interest of many people. Here is how to invest in Bitcoin. Before you invest your hard-earned money in a cryptocurrency, you should know what you are dealing with meaning where and when to invest. Bitcoin was the first to come up but is no longer the only choice. It is still the most well-known and valuable one, however.

Now, more than ever, people are talking about cryptocurrency. They want to be a part of this new investment opportunities and discover if they are worth it. Bitcoin is the most trusted. The name rings a bell and people have heard about it enough to be comfortable with it. This currency bits daily records and are becoming what many people “modern goal.” However, if you want to play the game, you must learn the rules. It is money we are talking about.

First of all, this type of investment may seem a little confusing at first, when you compare it to other investments. For example, you are not buying stocks; you are buying “tokens,” a sort of digital codes that represent the currencies.

There are specific portals or websites where you can know how much a different currency is worth at a particular moment as well as buy or sell your “money.” Some of them are CoinMarketCapCoinbaseKrakenBTCCryptoPay. To start, investors need to create an account, associate a payment method, go through several security verifications and finally create a “wallet.”

How to invest in bitcoin and other cryptocurrencies. ´

Bitcoins are no more than encrypted lines of code. Any authority does not issue there. They work as a net, which means that all of the Bitcoin network computers know all the transactions, which makes it impossible to forge or cancel payments.

Bitcoin has no intrinsic value, per say, but it has been taken as a means of exchange precisely because of how difficult it is to forge and how easy it is to transfer. The possibility of making payments anonymously is also attractive, especially for those who practice activities that are not so legal.

Bitcoin can be seen as a refuge-value in case of economic recession, currency depreciation, as it happens with gold.

If you are looking to spend some money on Bitcoins, to earn money from cryptocurrency appreciation, it is essential to know that there are only two ways to do it. You can either buy Bitcoins or invest in Bitcoins, as in they were stocks.

You can buy Bitcoins and store them in your virtual wallet, until the ideal moment when you decide to convert Bitcoins in cash. To buy Bitcoins using Visa/MasterCard or a bank transfer there is this recommended website, Coinbase.

Get Started! Learn How to invest in Bitcoin

One way to invest in Bitcoins is through Etoro. The advantage is that you do not pay the 2% commission to invest (or more, depending on the website). It is almost the same as buying and selling stocks. You can open an account on Etoro by paying a minimum deposit amount which varies from country to country.

If this is something you are genuinely interested in, you should definitely try both options and decide which one you prefer to use in order to profit from Bitcoin.

How to create a Bitcoin wallet? How about a Bitcoin Visa card?

In case you want to get Bitcoins, you need a virtual wallet. You do not need one for either Coinbase, because it includes a virtual wallet and, or Etoro because it is an investment platform where you are profiting from the price difference. Your virtual wallet is just like your bank account, except it is used to store your Bitcoins. Through your virtual wallet, you can send or receive Bitcoins, check the last transactions, and such.

If you are looking for a virtual wallet that is simple and easy to use, the following websites are recommended. You should use the 2-way authentication to protect your account from non-authorized access.

 

1.  Blockchain (blockchain.info)

2.  BTC.com (btc.com)

 

In case you are looking for a multifunctional virtual wallet, phone app and Visa debit card, so you can use you Bitcoins as if you were using your bank account debit card, try the following websites.

1.  SpectroCoin (spectrocoin.com)

2.  CryptoPay (cryptopay.me)

 

 

 

How can you protect your Bitcoins? 4 pieces of advice:

1. As you would do with your regular wallet, only save small amounts on your computer, phone or server for daily use, keeping the rest of your funds somewhere safe.

2. Back up your wallet regularly and encrypt it or your smartphone with a strong anti-theft protection password.

3. Store some of your Bitcoins in an offline wallet, disconnected from your network for more safety. Think of it as a bank, while you keep a little money in your wallet.

4. Update your software. For better protection, rely on authentication methods that make you go through several steps.

 

 

How to invest in Bitcoin and What else should you know?

 

1. Protect your address: Although your id behind your address remains anonymous, Bitcoin is the most public way of making a transaction which means anyone that can access the network can see your balance and transactions. That said, you should change your Bitcoin address after each transaction. You can also use different wallets for different purposes and so that your balance and transactions history remain private for those who send you money.

 

To finish, you should know some advantages and disadvantages of Bitcoin:

Advantages:

·  It does not depend on any country or central bank

·  Bitcoin can be used anywhere in the world

·  It is straightforward to buy and sell Bitcoins

·  Transactions only take a few minutes or even seconds

·  The Bitcoin Market is open 24 hours a day, 365 days a year.

·  It is possible to convert Bitcoins into cash in minutes

·  There are many Bitcoin card solutions for your Bitcoins, so you can shop or draw money at an ATM.

 

Risks:

·  Bitcoin can very quickly lose its value and you could potentially lose money

·  There are always rumors and plenty of speculation surrounding the value of Bitcoin

Hope you enjoyed this article on how to invest in Bitcoin.

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