Welcome! If you have arrived at this website is because you are either curious about Bitcoin, want to expand your knowledge, or are looking to train yourself as a Bitcoin and cryptocurrency investor, you have come to the right place! We have all your information here – from the most basic concepts of Bitcoin to complex trading strategies to make money with Bitcoin and other cryptocurrencies.
First, What is Bitcoin?
Bitcoin is a form of digital currency (or cryptocurrency) that is created and held electronically on a digital wallet. Cryptocurrency utilizes a distributed ledger system that operates without a central authority, like a central bank or a company, unlike government-issued currencies, such as USD, euro or yen. Bitcoin’s decentralized nature enables it to function on a peer-to-peer network, whereby users are able to exchange funds without middlemen. However, nowadays there are many centralized exchanges that save you time by making transactions without the need of setting up a digital wallet or all the intricate technicalities that involve trading with Bitcoin. Among these exchanges are Coinbase, Binance, Cashapp and Kraken.
Is Bitcoin here to stay?
We believe that not only Bitcoin, but cryptocurrencies in general, are here to stay. The best example of this is large financial intuitions ( JP Morgan), as well as governments (China), trying to adopt and create their own cryptocurrencies. Moreover, institutional investors are migrating into the crypto space for investment, which only reinforces the value and credibility of Bitcoin and Cryptocurrencies for the future.
Will Bitcoin be the currency of the future?
The simple answer to this is yes and no – it is a very difficult question to answer with 100% accuracy. However, there are many indicators that can give us an educated guess of where Bitcoin stands in the financial space and where it will go.
We believe that Bitcoin will be a currency of the future; however, it might not be the one we will use for every day transactions. This is because, as of right now, Bitcoin lacks properties that are indispensable for an everyday trading currency, such as speed and sustainable mining resources.
There are other cryptocurrncies that are working on solving this problem. Some are doing it to function along with Bitcoin and others are solving it from scratch, competing with Bitcoin for this purpose. This will take time to develop and to be adopted by the general public. Until then, Bitcoin stands as the most valuable digital asset in the market, and it will be very difficult for it to lose its value – even if other cryptos/projects achieve this solution.
am I too late to invest in bitcoin?
Absolutely not! According to many financial indicators, and due to its scarce availability and high demand, Bitcoin still has a lot of room to increase in value; some speculate Bitcoin will reach 100k to 500k. Moreover, well-established institutional investors are calling it a safe haven.
Here is why Bitcoin may be a great investment:
One of the main reasons Bitcoin continues climbing in value is due to scarcity. Unlike fiat currency, which can be hyper inflated without warning, Bitcoin is limited to a maximum amount of 21 million Bitcoins in existence. This means that as long as demand for Bitcoin continues growing, its value will also grow.
Out of the 21 million available Bitcoins, 18.4 million have been mined, leaving only 2.6 million left. However, these last 2.6 million are expected to take about 120 years to mine.
Bitcoin is an Effective Store of Value
As a scarce currency, Bitcoin’s price increases as demand increases; so, in order for its price to increase, Bitcoin has to be in high demand. Bitcoin’s main use is as a store of value, similar to the way gold is used. Storing value in Bitcoin also continuously grows that value as the cost of Bitcoin continues to increase.
Well-Known Firms are Beginning to Recognize Bitcoin
Another main source of growth for Bitcoin comes from well-known firms or individuals recognizing it as a resource or investment. The most recent, high profile [a1] firm investing in Bitcoin is Square. In October, Square purchased roughly $50 million of Bitcoin as an investment. MicroStrategy has also invested heavily in Bitcoin, recently purchasing $175 million of Bitcoin, raising their overall investment to $425 million. Additionally, PayPal intends to allow its user base to sell, hold and purchase Bitcoin through its system. This integration will make it simple for all of PayPal’s 26 million merchants to accept Bitcoin as a payment method.
why should I buy bitcoin if I am not an investor
Training and initiative. By trading with Bitcoin, even with low amounts, you will be having an advantage on how to trade with crypto and will have the availability and knowledge to easily migrate to other cryptocurrencies for future trading and upcoming opportunities.