In recent years, the name of bitcoin has increasingly been heard as a medium of exchange in the financial world that is said to generate a lot of profits. Many people are finally enthusiastic about transacting and investing in one of these types of cryptocurrencies. The profit is also very tempting because of the increase in valuations that overtime is so extraordinarily high. Bitcoin is considered a potential new investment instrument in maximizing profits in finance.
So, what exactly bitcoin is? Bitcoin is a new currency or electronic money created in 2009 by someone who uses the pseudonym Satoshi Nakamoto. Bitcoin is mainly used in transactions on the internet without the use of intermediaries or without using bank services. Just like Koin P2P from KoinWorks, bitcoin uses a peer-to-peer (P2P) system. Lately, some businesses are starting to accept BTC payments. Although the business is still in the minority, some big company names have started using BTC. Below is a list of online suppliers that accept BTC:
- Amazon
- WordPress
- Overstock.com
- Bitcoin. travel
- Victoria’s Secret
- Subway
- Zappos
- Whole Foods
If you are market literate or are in luck, you can make a profit by buying Bitcoin when the price is low, then buying items when the value of BTC is high so that you can save money to acquire goods. You can sell these items to take profits or store them.
In addition to being able to buy goods, electronic money such as bitcoin can be stored in a digital wallet on the cloud server or the owner’s personal computer. The wallet in question is more like a virtual bank account that allows users to send and receive bitcoins, invest or transact.
There are several ways of beginner bitcoin investing that will be discussed;
- Bitcoin exchange is a designation for a special place provider company that investors from various countries use to exchange Bitcoin for local currency (dollars, euros, rupiah, etc.).
- Bitcoin wallet or bitcoin wallet. There are two types of bitcoin wallets today, namely hot wallet and cold wallet. The difference between a hot wallet and a cold wallet is hot wallet serves to access coins through the internet or software programs. While the cold wallet is hardware or hardware to store bitcoin. Cold wallets are more recommended to hold large amounts of coins, while hot wallets are recommended to invest small amounts with additional insurance.
- Even Invest bitcoin can by way of deposits. Deposits can also be made in the form of coins, both Bitcoin, Ethereum, and others. You can see a list of coins received by the exchange where you opened your account. Short-term and long-term bitcoin investments are to manage periodically.Because the price of Bitcoin varies greatly from one country to another. If you want to take a high risk, you can reap profits by buying cheap BTC in a country and then you sell it in another country. However, there is certainly a possibility of losing money if the market changes. Therefore, in its implementation, users are very necessary to always conduct price investigations this is done so that it is always updated whether the price of bitcoin is going up or down.