Bitcoin for beginners
There is certainly a lot of speculation surrounding Bitcoin, it is certainly an interesting topic at the moment. There are also a lot of questions and if you are confused, don’t you worry for a minute, because you aren’t the only one! Bitcoin is known for the confusion, speculation, and general volatility that it brings to the table.
While it is an odd topic, it is certainly one that is taking off right now and over time, all sorts of people are becoming interested in it. For the most part, people will always be confused, and the jury is still out regarding its future popularity. However, looking at the past, it looks very much promising.
So, let’s take a look at Bitcoin and all you will need to know as a Bitcoin beginner.
What is Bitcoin?
Bitcoin was launched in 2009 by Satoshi Nakamoto who is a mystery billionaire, to this day, people are still unsure as to who hie is or who they are. It is regarded as the first cryptocurrency ever made and launched. It is completely decentralized which means that it is not officially governed by a government or financial institution which is why people like it. It is especially popular on the black market for that exact reason.
How does Bitcoin make money?
Bitcoin essentially follows the rule of supply and demand and because of all that and a few other perpetrators, it is extremely volatile. Even people using various apps and websites such as News Spy say that volatility could be the ending point for Bitcoin or the thing that takes it down in the long run. It is said that very many people don’t actually do their research before becoming affiliated with Bitcoin and end up being highly shocked.
Usually, they will buy it due to many people being interested and in turn lose all of their money because they have no actual knowledge about Bitcoin or other forms of cryptocurrency at all.
Should I buy Bitcoin?
Bitcoin is an incredibly volatile buy if you haven’t already realised that. It certainly isn’t for the faint of heart because the value rises and falls extremely fast which can make people nervous and induce a lot of anxiety. It is definitely worth checking out other forms of investment before you opt for Bitcoin as it can prove disappointing at times. Choosing to go with stocks from an uncomplicated company can provide you with far more in the long-term than Bitcoin can.
Bitcoin facts
This guide is packed with fruitful information for beginners and to make it even better, here are some lucrative facts that will guide you on your way!
- The first Bitcoin purchase ever made was used for Pizza
- The person who invented Bitcoin, Satoshi Nakamoto, to this day is entirely unidentifiable
- The maximum number of Bitcoins allowed to be made is 21 million
- If you lose your Bitcoin private access key, you lose all of your Bitcoins as well
- There are actually many things you can buy with Bitcoin
