In case you are here, you have heard about Bitcoin. It has been among the biggest frequent news headlines over the very last year or so - as a get rich quick scheme, the end of finance, the birth of truly international currency, as the end of the world, or as a technology that has improved the world. But what is Bitcoin?Most of us know, normally, what 'money' is and what it really is used for. The most crucial issue that witnessed in money use before Bitcoin relates to it being centralised and controlled by just one entity - the centralised banking system. Bitcoin was invented in 2008/2009 by an unknown creator who goes by the pseudonym 'Satoshi Nakamoto' to bring decentralisation to cash on a global scale. The idea is the fact that the currency can be traded across international lines with no difficulty or fees, the checks and balances would be distributed through the entire globe (rather than just on the ledgers of non-public corporations or governments), and money would become more democratic and equally accessible to all.
The concept of Bitcoin, and cryptocurrency on the whole, was started in 2009 by Satoshi, an unknown researcher. The main reason for its invention was to solve the issue of centralisation in the use of money which relied on banks and computers, a problem that many computer scientists were not happy with. Achieving decentralisation has been attempted since the late 90s without success, so when Satoshi published a paper in 2008 providing a solution, it was overwhelmingly welcomed. Today, Bitcoin is becoming a familiar currency for internet users and has given rise to thousands of 'altcoins' (non-Bitcoin cryptocurrencies).
Bitcoin is made through a process called mining. Just like paper money is made through printing, and gold is mined from the ground, Bitcoin is created by 'mining'. Mining involves solving of complex mathematical problems regarding blocks using computers and adding them to a public ledger. When it began, a simple CPU (like that in your home computer) was all one needed to mine, alternatively, the level of difficulty has grown significantly and now you will need specialised hardware, including high-end Graphics Processing Unit (GPUs), to extract Bitcoin.
For starters, you need to open an account with a trading platform and create a wallet; you can find some examples by searching Google for 'Bitcoin trading platform' - they generally have names involving 'coin', or 'market'. After joining one of these platforms, you click on the assets, and after that click on crypto to choose your desired currencies. There are tons of indicators on every platform which are quite important, and you should make sure to observe them before investing.
While mining is the surest and, in a way, simplest way to earn Bitcoin, there is too much hustle involved, and the cost of electricity and specialised computer hardware can make it inaccessible to most of us. To avoid all this, make it easy for yourself, directly input the amount you want through your bank and click "buy', then sit-back and watch as your investment increases according to the cost change. This is called exchanging and takes place on many exchanges platforms available today, with the capability to trade between many different fiat currencies (USD, AUD, GBP, etc) and different crypto coins (Bitcoin, Ethereum, Litecoin, etc).
If you're familiar with stocks, bonds, or Forex exchanges, in which case you will understand crypto-trading effortlessly. There are Bitcoin brokers like e-social trading, FXTM markets, and lots of others you could choose from. The platforms supply mining rigs you with Bitcoin-fiat or fiat-Bitcoin currency pairs, example BTC-USD means trading Bitcoins for United States Dollars. Keep your eyes on the price changes to search out the perfect pair as outlined by price changes; the platforms provide price among other indicators to give you proper trading tips.
Additionally there are organisations set up to make it possible for you to buy shares in businesses that invest in Bitcoin - these companies do the back and forth trading, and you just invest in them, and wait for your monthly benefits. These companies simply pool digital money from different investors and invest on their behalf.
While you can easily see, investing in Bitcoin demands that you've got some basic comprehension of the currency, as explained above. As with all investments, it involves risk! The question of whether or not to invest depends entirely upon the person. However, if I were to give advice, I would advise in favor of investing in Bitcoin with a reason that, Bitcoin keeps growing - although there has been one significant boom and bust period, it really is highly likely that Cryptocurrencies as a whole will continue to improve in value over the next a decade. Bitcoin is the biggest, and most well-known, of all of the current cryptocurrencies, so is the best place to start, as well as the safest bet, currently. Although volatile within the short term, I suspect you will find that Bitcoin trading might be more profitable than most other ventures.