What is Bitcoin and its benefits

LaunchFXM

Newbie
4 0
Bitcoin is basically a cryptocurrency and is also referred to as a digital currency. This simply means that bitcoin is not a physical money in fact it is a virtual money and can be traded at any time anywhere digitally. Through bitcoin you can make purchases digitally as it is actually an online cash method which means you can easily shop online with the help of bitcoin. Though many companies do not accept bitcoins but who do, you can shop their products and services through bitcoin.

Let's check few of the advantages of bitcoins:

1) Bitcoin is 24/7: The biggest advantage of bitcoin is that it is available 24/7 which means you can trade bitcoin at any time no matter what. As it is a digital currency so trading with bitcoin has actually become very popular as many traders find it as the most convenient option.

2) Security: We know how important it is to keep your funds safe as security is the major issue. People are often scared what if the data of their bank accounts may be leaked during deposits and withdrawals or may be during any sort of transactions but with bitcoins you don’t have to provide the bank account details as they are completely safe with you. In fact you are even not required to share your credit or debit card details too because simply your bitcoin will do the work for you. Trade with bitcoin and you yourself can make out a difference.

3) No involvement of third parties: Bitcoin trading is between two parties only that means no banks are involved in such transaction processes. Bitcoins can not be stolen by anyone under any circumstances and even the government can not take a hold of it.

4) Instant transactions: As compared to any other transaction methods, bitcoins don’t take any longer to get the transaction done. Transactions with bitcoins are very quick.

5) Reduced transaction fees: Unlike other transaction methods, bitcoins transaction fees are very low. We know that when you use credit cards and debit cards, you usually end up paying more transaction fees but with bitcoins you really don;t have to worry about it.

6) High Liquidity: As compared to other cryptocurrencies, bitcoins got the higher liquidity.

7) Cannot be tracked: Till the time you don’t let others know your bitcoin wallet address, no one can ever track your bitcoins or without the permission of the bitcoin owner no one would ever get to know how many bitcoins you own. The bitcoin wallet address could be changed even if it has been shared by anyone. Therefore, this seems out to have a lot of privacy.

Bitcoin has captured most of the market and people find it as a very convenient option as it has come with too many benefits.
 

ForexChief

Newbie
4 0
Bitcoin is currently controlled by a cartel of economically illiterate charlatans who believe that Bitcoin should be little more than a decentralized digital piggy bank.

In the past, I laughed at people who said Bitcoin was a Ponzi scheme but it’s hard to look at the discussions going on in the Bitcoin community and think it’s become anything other than that. It’s absurd, dinosaur transaction fees and times make it almost unusable as a daily currency and accordingly it’s price seems driven by nothing but FOMOs throwing money into it. The Bitcoin community does not seem to care much, at least the vocal ones.

I personally did not get excited by Bitcoin when I heard about it back in 2012 because I thought it was going to “go to the moon,” but because I believed that a fee free, decentralized, inflation proof, uncensorable and semi-anonymous monetary system would bring about a global revolution in human freedom and wealth. Nowadays, it’s not uncommon to see Bitcoin supporters tell us that we should “just use Visa” for daily transactions and Bitcoin store our money, not spend it. This is an egregious abdication of the original vision of Bitcoin.

Bitcoin Cash offers what I think is the closest option to Bitcoins original vision outlined by Satoshi Nakomto and it’s community will not tell you to make the false choice between a store of value and a “spendable currency.” Its fast, low fee, and I expect it will achieve rapid adoption by businesses in the crypto space. It has the potential to change the world in incredible ways.

Should you buy Bitcoin or Bitcoin Cash? That depends on your crypto investment philosophy I suppose. Mine has always been and will remain based in real world use cases. I’m not interested in accumulating digital bits just because I think they will “moon.” You might get rich, you might not. You’ll be an idiot either way. I want things I can actually use in the real world. Accordingly, I’ve moved my Bitcoin and ther crypto holdings to Bitcoin Cash.
You can visit [link removed]
 

Darren crow

Newbie
4 0
Who wants yo know more about bitcoins and how you can use it to invest and make money? Just send me a message or reply All right so let me break it down just like investing in any other start up or business you’re investing in bitcoin which is a digital currency that fluctuates and goes higher how much do you think you can start up with anywhere at all let me tell you the hypothetical profit ? Message me to know
 

Manostrell

Junior member
48 3
I think this asset category is more in demand than ever. To a greater extent, this is due to the fact that there is now an unstable economic situation around the world and as a result many assets are behaving in a non-standard and strange way. And it has become much more difficult to work with them. But these assets are more independent and more unique, so there has been no change in the way we work with them, or rather in the way we work with them. So, those traders, who have worked with these assets before, now have nothing to worry about. But those who have not yet used it in their work - now they should try to deal with it as soon as possible, so as not to lose the opportunity to make a profit under any circumstances.
 

axaxi

Newbie
6 0
Thanks for your information, really helpful for beginners in bitcoin investors, actually i started investing in crypto in 2017 and i think it’s the future of currencies and will always keep rising up i started with btc cad transactions and i made 200 bucks that time because it was the golden time of bitcoin in 2017 but now it worth less than how it was worth in 2017 but it still high and people still invest in it so much, i think it will explode soon and i’m sure about because i have been investing in it long years ago, other reason to grow is the virus pandemic which mean people will tend to use digital currincess more. After all it’s risky trade and need long time of experience and tries.
 
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Crymore

Newbie
1 0
Hey, LaunchFXM. I agree with you completely, bitcoin and cryptocurrency, in general, are our future without cash, but where is a disadvantage, while you're making transactions, you might have problems, because someone might track you personal data which is not very good. Fortunately, there are sites which are making these actions anonymously, if you want to find something suitable, I advise you to read this article and choose the best bitcoin mixer for yourself. I chose Blender.io according to this site, so I think you will find something.
 
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Trader H.C.

Junior member
39 6
From Technological perspective, good or not, I'm no expert to comment.

From Trading perspective, we can see not only bitcoins, but most cryptocurrency pairs are profitable to trade as most of them are having a bull-run.

And I think that is the most beneficial thing about bitcoin that is related to most people here now. :p
 

KennethShafer

Newbie
3 0
What are the cahnces of Bitcoin price, can it be rise again?
----------------------------------------
I think, yes. If you want to make sure in the funds got on trading, it is better to ask professional help. Or, at least, be in the area. And after it the price and increasing of your crypto reserve will not be a problem for you.
 
 
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