Bitcoin : The Ultimate Pocket Guide for Beginners in Bitcoin and Cryptocurrency World E-Book

Mark Edwards

• Herausgeber: Books on Demand
• Kategorie: Ratgeber
• Serie: Digital Currencies and Digital Gold Secrets
• Sprache: Englisch
• Veröffentlichungsjahr: 2018

Seitenzahl: 44

Beschreibung

Bitcoin is the first successful cryptocurrency in history, and it became successful because of the many positive merits not found in traditional or fiat currency (this is your country's national currency). In recent months, interest in cryptocurrencies has surged as bitcoin and other cryptocurrencies have skyrocketed in value. In this book, you'll find out about five advantages Bitcoin has over fiat currency and the best tips and techniques on how to become rich with the cryptocurrency niche.

Leseprobe

Bitcoin : The Ultimate Pocket Guide for Beginners in Bitcoin and Cryptocurrency World

Strategies For Bitcoin And Cryptocurrency Investors5 Interesting Facts About Blockchain TechnologyAn Elementary Explanation Of How Bitcoin WorksBitcoin Is The Future Of Money In Developing EconomiesGetting Paid In Bitcoin For Your Services – Is It Worth It?Keeping Your Bitcoins Safe: Hot Wallets vs. Cold WalletsShould You Trade Or Invest In Bitcoins?The 5 Advantages Bitcoin Has Over Fiat CurrencyWhy Your Business Needs To Start Accepting Bitcoin Payments NowRed Flags Of Cryptocurrency ScamsBitcoin main facts : The most Interesting Bitcoin Facts Every Bitcoin Owner Should KnowBitcoin BackgroundAdvantages of BitcoinDisadvantages of BitcoinWhat You Can Buy with BitcoinsMethods to Acquire BitcoinBitcoin MiningBitcoin Mining TerminologyBitcoin Mining Hardware Used By MinersBitcoin WalletsCommon Bitcoin ScamsTrading vs InvestingFuture of CryptocurrencyBitcoin famous quotes 7 Techniques To Successful Cryptocurrency TradingTrading vs. Investing In CryptocurrenciesTechnique 1 – Buy Low and Sell HighTechnique 2 – Pay Attention To The NewsTechnique 3 – Learn To Read ChartsTechnique 4 – Open A Demo Trading AccountTechnique 5 – Trade Only What You Can Afford To LoseTechnique 6 – Have A Solid Plan In PlaceTechnique 7 – Be Prepared For VolatilityFinal WordsWebsites00cover01title02copyrightsCopyright

Strategies For Bitcoin And Cryptocurrency Investors

Strategies ForBitcoinAndCryptocurrencyInvestors

Investing in highly volatile bitcoins and other cryptocurrencies is risky business. These currencies are all electronic or virtual in nature, and thus have no physical presence. They don’t even have intrinsic value. However, no one can deny that right now these cryptocurrencies are extremely valuable and those who invested in the early days, and held on to their investments, are living the high life now as multi-millionaires, and even billionaires!

If you want to be like these wise investors sometime in the future, then follow these 4 investing strategies to increase your chances for success.

1 – Prepare For Volatility

It’s basically a given for cryptocurrencies that they are going to be extremely volatile. One minute the price is sitting at 5 digits, and the next it’s at 4 or even 3 digits! It’s absolutely unpredictable, and if you don’t take its volatility seriously, you could get in a lot of trouble. You could panic and sell off your crypto so you can minimize your loss.

However, if you’ve braced yourself for scenarios like this, then you’d probably just shut down your computer, or turn off your TV, and lie down and sleep off your doubts. Tomorrow is a different day, the price could go back up, and all will be fine with the world. Being prepared for volatility is tough, but it’s definitely doable.

2 – Proceed With Caution

Do your research before you start investing in bitcoins and other cryptocurrencies. When you’re dealing with hard-earned money, you don’t want to lose everything in one day. You’re investing to make a profit sometime in the future. Don’t go all in without studying what you’re putting your money into.

3 – Diversify Your Portfolio

Don’t put all your eggs in one basket, so to speak. Don’t just invest in bitcoins. If possible, invest in other cryptocurrencies as well as traditional assets like stocks, bonds, and mutual funds. At least if bitcoin prices drop, then you’re not going to be totally in the red. Your other investments will help keep you afloat.

4 – Store Your Virtual Coins In Cold Wallets

Investing is a long-term game, and it is not advisable to keep your cryptocurrencies in online wallets such as your exchange’s wallet, or even your mobile app wallet. Keep your private keys in cold wallets such as paper or hardware wallets since these aren’t connected to the Internet. You can keep small amounts in your online wallets, but the bulk of your investments should be offline.

5 Interesting Facts About Blockchain Technology

5 Interesting Facts AboutBlockchainTechnology

Blockchain is the technology that makes Bitcoin and other cryptocurrencies very secure. It’s an open-source and distributed database that is stored in nodes or computers within the network. When new transactions or blocks are added to the blockchain, it will automatically update itself. Here are 5 very interesting facts about this ultra-modern technology.

1 – It’s Tamper-Proof

Once an entry has been added onto the blockchain, it will be nearly impossible to remove or alter it later. If you want to alter an entry, you’d have to basically alter all the transactions that came after it. Doing this is mathematically impossible, so even genius fraudsters would have to look elsewhere to steal bitcoins without too much effort. Being tamper-proof is also the reason bitcoin payments are final and irreversible.

2 – It’s 100% Transparent

Anyone with access to the blockchain can see all the transactions that have ever occurred in the past. You can even look up the first ever block (block 0) that was mined by Bitcoin founder, Satoshi Nakamoto, in 2009. This genesis block contained the message “The Times 03/Jan/2009 Chancelloron brink ofsecondbailout for banks.”

3 – Criminals Can’t Hide Behind TheBlockchain