Bitcoin is the buzzword at this point in time. People across the globe talking about bitcoin due to the reason that this digital currency has given splendid return over the past few months. On the off chance, you’re thinking about trading in this currency here is a small guide for you.
History Of Bitcoin – Bitcoin is a cryptocurrency that was created in the year 2009. While the currency has been around for quite a while, its attractiveness rose a few years ago when mercantile started accepting it as a form of payment.
How To Get Bitcoins – If you’re very much interested in getting into the bitcoin market, there are a lot of ways for you. Listed below are a few:
- An Exchange – Here you need to get into the marketplace, and you will find people looking to buy or sell the currency. You should identify a reputable buyer or seller and place an order. using the GDAX for buying and selling bitcoin can be a good idea.
- Transfers – You can also get Bitcoin from a family member or friend. Here they need to send you the currency via an app located on the smartphone or computer.
- Mining – This is the conventional method for getting the coins. In this, you use the PC to solve difficult math puzzles. After successfully finishing a puzzle you are compensated with the coins.
Advantages Of Trading The Cryptocurrency
- Ease Of Entry – Unlike the stock market, there are no hurdles to entry into the Bitcoin market. All you have to do is identify a seller that you can buy from you and vice versa.
- It’s Volatile – Bitcoin is highly volatile. It quickly changes its price. If you take advantage of the price changes, you can make huge profits.
- Global – You can trade the cryptocurrency from any part of the world.
- 24 X 7 Trading – The stock market trading happens during the business hours, while Bitcoin trading happens 24 by 7.