A Beginner's Guide on Why and How to Invest in Bitcoin?

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Crypto World At Your Finger Tips!
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A Beginner's Guide on Why and How to Invest in
Bitcoin?
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People all around the world still fancy whether
it is a good time to invest in Bitcoin or any
other cryptocurrency. Bitcoin is the most
significant cryptocurrency in the market, and it
has gained attention from several nations and
people across the globe. These cryptocurrencies
are virtual assets that do not exist like
traditional currencies.
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• They facilitate the way we can do a transaction
  without any involvement from the third party. At
  present, we, as a sender or receiver, have to
  deal with a third party which facilitates a
  transaction.
• The main goal of Bitcoin is to free transactions
  from any form of the mediator, and due to this
  particular feature, this cryptocurrency has
  gained the largest market capitalization.
  However, not, many people know how to invest in
  Bitcoin, which is why this blog is meant to help
  you.
• Nowadays, the internet is loaded with a number of
  websites that offer crypto news and articles. In
  this article, I will discuss whether it is too
  late to buy Bitcoin or any other cryptocurrency.

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A Brief Look At The History Of Bitcoin

• Bitcoin was launched in 2009 by a group which
  described itself as Satoshi Nakamoto. A
  whitepaper was issued by this group, which gave
  some insight about this peer-to-peer digital cash
  system.
• The idea behind its launch was to introduce
  something which would eliminate the mediator who
  takes part in the transaction or a regulator who
  controls our money.
• At that time, about 10000 Bitcoins were used by
  someone to order just two pizzas. This
  transaction can now be regarded as the most
  expensive one, as the price of each Bitcoin has
  now reached more than 8000.

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Blockchain, The Technology Behind Bitcoin

• Blockchain is an underlying technology behind
  Bitcoin. It is a decentralized network which
  facilitates peer-to-peer transactions between the
  senders and receivers. In simple words,
  blockchain is a never-ending chain of blocks.
• These blocks could have any piece of information
  such as date, time, amount or any other thing
  that could be related to the transaction. Each
  block stores a unique code referred to as 'hash',
  which uniquely identifies a block within a
  blockchain system.
• Earlier, the size of a single block in the
  Bitcoin blockchain was 1 MB, but after some year,
  some people demanded to increase the size of the
  block so that larger transactions could be
  supported by the network.

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• This resulted in a 'fork' which gave birth to a
  new cryptocurrency known as Bitcoin Cash(BCH).
  Although the size of each block increased,
  Bitcoin retained the top position due to its
  previous popularity.
• The blockchain system contained millions of
  computers to verify transactions, and each
  transaction could not be reversed within this
  system. Thus, a system was introduced, which
  eliminated the third party and which was
  completely decentralized.

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Reasons Why Bitcoin Became a Bubble

• In a single year, this cryptocurrency saw a 28
  times growth in its price before a drop of 60,
  and this event became a main event in the crypto
  world which came to be known as 'Bitcoin Bubble'.
  Here, I have provided a price chart which can
  tell you why Bitcoin gained the status of a
  bubble.

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• In 2011, Bitcoin started its journey with a price
  tag of 30 cents or 0.30, and within some months,
  the price reached 30. However, in the end, it
  again reached 5, which made Bitcoin the biggest
  bubble.
• In 2013, Bitcoin started with 15, and by the
  middle of March the price reached 50, by next
  month one Bitcoin was valued 100, and within two
  weeks its value doubled making a Bitcoin worth
  approximately 230.
• In 2017, the value of Bitcoin reached 900, and
  at the year's end, it was at 20000(this was the
  second-largest bubble).

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Which Is The Best Place To Buy Bitcoin

• Basically, the best place to sell and buy Bitcoin
  is LocalBitcoins, which is the most significant
  Bitcoin exchange platform that helps match
  Bitcoin buyers and sellers reside at a very close
  distance and could enable online transactions.
  Also, this exchange service offers an escrow
  service, which was introduced to bring fairness
  for the platform's users. Besides this, there are
  also other crypto exchange platforms such as
  Binance, BitMEX, Coinbase and many more.

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Why Is Cryptocurrency The Future?

• Almost every potential investor whom I've met has
  asked at some point the question- What is the
  future of cryptocurrency or Bitcoin? Digital
  currencies possibly will proceed to settle into
  stable products, niches, and uses, becoming a
  viable alternative to many fiat currencies.
• Unregulated crypto space is both undesirable and
  strange, as governments are willing to maintain
  their monetary policies and decrease the impacts
  of untamed crypto. Bitcoin, together with other
  cryptocurrencies, could see increased stability
  and general use, as less popular cryptos would
  gain adoption for specific purposes and
  industries.

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How Much To Invest In Bitcoin

• The answer to how much to invest in Bitcoin
  depends on three factors which are as follows.
• 1. Risk Tolerance- It is the biggest factor.
  Wealthy people could spend a significant amount
  of money and take risks. However, people with
  small income could put a fraction of their
  savings to get some profits from Bitcoin.
• 2. Timing-Timing is a factor which plays an
  important role. Earlier, Bitcoin gained lots of
  attention within a short period of time, but now,
  this cryptocurrency has become expensive. Still,
  we can invest in its fraction, which is about .

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• 3. Diversification- It is a system where an
  investor could reduce the value of luck. It
  indicates the investor will not only spend in
  cryptos but also allocate their resources to
  various investment vehicles which could be real
  estate, stocks or even gold.
• The investor can also leave some of their
  investment at their bank to make a little
  interest. Although it is a worse decision in
  terms of making a profit, it will somehow secure
  your investments.

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Why Invest In Bitcoin

• The potential massive gains from Bitcoin aren't
  the single thing making it such an interesting
  asset. The point that both the market and
  technology are so young indicates there is a lot
  of space for improvement and hence the growth in
  price.
• Bitcoin has spent a decade, and the quantity of
  work that is to be done blockchain is more
  massively every year. The developers of Bitcoin
  are always on duty, and the code is being worked
  on non-stop to improve privacy, scalability and
  other impressive features.

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Conclusion In this article, we have discussed
some important things, such as the best place to
buy Bitcoin and how much to invest in Bitcoin.
Besides this, we have also discussed on how to
invest in Bitcoin. As mentioned above, this
cryptocurrency has a huge potential to grow and
could become the best investment in the coming
years. There are several platforms that provide
news on Bitcoin and other cryptocurrencies. From
the above discussion, we can say that it is a
very good time to spend money on
cryptocurrencies.
Sources https//www.cryptoknowmics
.com/news/how-to-invest-in-bitcoin
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