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bitcoin was seen as a virtual money to be used for transactions between individuals when it was first created. as the need/use for bitcoin increased, there was need to gain more access to it for wider audience. the need to correlate it with the dollar equivalent arose so people can gain access to it especially those without mining option and direct contact but have bitcoin in their possession. many mainstream websites provide access to pricing information on bitcoin. one of the challenges with following the price of bitcoin is that there are numerous exchanges available. one of the most widely used is coinbase which gives you the current bitcoin price as well as a chart showing the price over time as well as the number of daily bitcoin transactions
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to start trading, you need to do research and read to have a deep knowledge and understanding of bitcoin market and how it works. then proceed to open one or two wallet address, get a currency exchange where you can carry out exchange with other users. start trading small and grow. learn the various trading strategy; holding or short term trade and go with the one you have the stomach for. never trade with more than you can afford to let go because no matter how intelligent you are, anyone can make a mistake thereby leading to an unsuccessful trade
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just like every technology, there are risk associated with bitcoin such as its volatility which makes it impossible to have a stable price at all times. the risk of been hacked but that can be managed if you can be a little more careful by not exposing your private key, making sure you are crediting the right wallet address as the transaction is one directional and cannot be recalled, making sure you are login into the right wallet address. having more than one wallet address can be a good idea so you do not put all your eggs in one basket but the benefits of bitcoin outweighs the risk because it is a decentralised currency so you have absolute control. have a good knowledge and understanding and you will see the benefits
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bitcoin is a decentralised currency which operated using the blockchain technology and that allows users to have absolute control to trade with each other without the need for a middleman. in today's modern day commerce a bank usually takes the role of the middleman which generates revenue for the bank. they make money just for holding the money for their users but in bitcoin technology, you do not need the bank to help you hold you currency, you just need your wallet. this does not generate revenue for the bank hence they hate cryptocurrency
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bitcoin is a digital currency and not a physical form of currency like the notes and coins. bitcoin is a decentralised currency which gives the user absolute control which means it cannot be controlled by the government. bitcoin transactions are monitored and managed by a technology called crypography and its transactions are recorded on a public distributed ledger called the blockchain. bitcoin is volatile, which makes it value to change constantly. its values are not determined by government policies. all of this makes it impossible for government to have control so they cannot recommend it.
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honestly, there is no ideal answer as to having a good time or bad time to buy bitcoin or not to buy. bitcoin is volatile therefore, the ,market value can change at will and it just might be favorable to someone. good time or bad time is relative as it is decided by the individual. you just need to have a good knowledge of the market value and trend. be tactically, patient and do not panic. the cash at hand also determines when to buy or not. never buy with the money you are not ready to let go off
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trading in cryptocurrency is as easy as filling a form once you have done these two things; get one or two cryptocurrency wallet which is where you store encrypted passwords that represents your coin and find one or two cryptocurrency exchange which is like the sock exchange where you can comfortable trade on. if you do not want to just buy, sell or hold, you can invest. one keynote, never trade what you are not willing to let go because no matter how smart you think you are, you will not always be successful. always do your research and gain more knowledge
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cryptocurrency is a decentralised currency in digital form which gives it users absolute control. it is not in physical form therefore, it cannot be stored in the bank thereby not giving banks the ability to make policies as well as government. so, they do not have control over the movement of cryptocurrency transactions. cryptocurrency transactions are monitored and management by a technology called cryptography and the transactions recorded in a public distributed ledger called the blockchain which the banks and government do not have access to. the banks and government are simply scared of cryptocurrency just for the single fact of not having control over it
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there are various measures you can take but not limited to them. open a wallet with a secured site. do not put all your coins in one wallet. do not expose your private key. when you want to login into your wallet address, check to see if you have the correct spelling of your wallet address and not a copy. do not put in your private key in another system different from yours and do not allow someone else login using your system. when making a pay transaction, be careful not to input the wrong wallet address
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crypto is a digital form of cash unlike the national currencies which are in physical forms of notes and coins. although, they serve the same purpose in buying and selling of goods, they differ in many ways. crypto is a decentralised currency which gives the user absolute control while national currencies are been controlled by government. transaction using crypto might be fast, easy and secured based on the one direction payment system, it still cannot replace the national currency
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