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.
 

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
 

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 10
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.
 

AdamCantor

Active member
127 11
anyone hodl btc here?
 

kulou

Newbie
2 0
Thanks for the information, lately I began to think about the reliability of the cryptocurrency and its stability in the market. Given the rise in the bitcoin rate, I want to use my savings of $ 20,000 and buy cryptocurrency, but there is a certain risk that the bitcoin rate may fall and I will lose everything. My friends advise me not to risk using such a large amount, but to try another method of earning money on a cryptocurrency exchange. I was advised to use a method called cryptocurrency scalping described at https://bittrade.one/. The great advantage of this method is that it provides minimal risk from operations on currency exchange and makes it possible to quickly make a profit. I thought for a long time what decision would be correct and I cannot decide. Do you think there is a possibility of that the price of bitcoin will fall?
 
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MasterOfCoin

Experienced member
1,134 440
Thanks for the information, lately I began to think about the reliability of the cryptocurrency and its stability in the market. Given the rise in the bitcoin rate, I want to use my savings of $ 20,000 and buy cryptocurrency, but there is a certain risk that the bitcoin rate may fall and I will lose everything.
Bitcoin is notoriously volatile and it's value fluctuates wildly, largely because speculators view it as a get-rich-quick vehicle.
[which it can be, IF you're good at speculating high risk volatile assets] Or you'll just end up transferring your wealth to those who are better at speculating than you are.

However, it's also a currency for everyday transactions with 151 million (and fast growing) active users that appreciate it's many advantages over fake fiat constantly depreciating established alternatives.

If you want to free the world from the tyranny of corrupt politicians, use cryptocurrency.

But if you want to get rich quick, consider something like Gamestop shares or similar less risky speculations.

😁
 

KevinSkinner

Newbie
3 0
Bitcoins keep going up and up! This is the best time to buy. It's not like we can turn back the time and hope for it to fall and then rise again. The important thing is the present and what we decide to do towards that. I am using https://bitscalp.io/ to find about bitcoin fluctuations. It's really important to learn when to buy and when to sell, otherwise, you can lose money very quickly. I have recently thought about mining bitcoin, but that's a durable process. But I am thinking about giving it a try. After all, I have nothing to lose, right?
 
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