Has the question about how to invest in Bitcoin crossed your mind? In this article, I will be bringing your attention to the main things that you need to know before you can get started with this cryptocurrency.

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The main things that I will explain include:

• Why more people are relying on Bitcoin to grow their nest of investments
• Why you should consider investing in Bitcoin
• Why the price of Bitcoin fluctuates
• When is the best time to invest in Bitcoin
• How to Invest in Bitcoin
• Will the bitcoins be secure?
• What about mining?

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Why more people are relying on Bitcoin to grow their wealth

You can agree with me that people are relying on the internet more than ever. This has been the main reason behind Bitcoin gaining the attention of many investors on a global scope. Bitcoin is a digital currency that everyone can use to grow their wealth both in the short term and long term horizon.

Investing in Bitcoin sounds like rocket science to many people, but this changes upon the acquisition of sufficient information about how it works. The top-performing firms that are helping people invest in this crypto are actually investing heavily in client education, in a bid to ensure that everyone makes an informed decision.

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Bonus point: Bitcoin is a payment system based on blockchain, while bitcoin is a currency or currency unit.  ( Take note of the capital letter and small letter)

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Bitcoin investing is one of the concepts that most people have wanted to have a clear understanding of. What is all the fuss about this cryptocurrency? Do the investors who have Bitcoin in their investment portfolios stand a better chance at making a higher income in comparison to their counterparts who have chosen to rely on traditional assets? Such are the perfect examples of questions that potential investors have been raising.

Frankly speaking, there is a lot of information available about this cryptocurrency, and every investor who intends to rely on it to create wealth may never soak up all that knowledge. There are, however, some select concepts and facts that such an investor ought to know, including:

• What is Bitcoin?
• Who invented Bitcoin?
• Why is he anonymous?
• What is Bitcoin Mining?

What is Bitcoin?

Bitcoin is simply a type of cryptocurrency. With this cryptocurrency, the balances in their owners’ accounts are kept using keys. Keys are defined as long strings of number and letter combinations that are interlinked through unique mathematical algorithms that were used to form them. The two types of keys that are used to reflect the Bitcoin account balances are public keys and private keys.

A public key can be likened to a bank account number. It is an address that is usually published to the world, and other Bitcoin owners can send tokens to it. The private key, on the other hand, is likened to an ATM PIN. This key, like the ATM PIN, is supposed to be kept as a secret. It is used during the authorization of Bitcoin transactions.

Bitcoin owners usually have a Bitcoin Wallet which is a physical device that enables them to keep track of the coins that they own during activities such as trading and investing.

Who invented Bitcoin?

One of the most conspicuous mysteries in the current day world is the person or organization who is responsible for the creation of Bitcoin. It is said that Satoshi Nakamoto is behind the creation of this cryptocurrency, but no one knows whether Satoshi is a person, organization or simply a program.

During the release of Bitcoin, it was said that Satoshi Nakamoto was behind the creation of this crypto. Since then, no one has managed to figure out who or what Satoshi stands for ( It could be a pseudonym whose real meaning will be revealed in the future). Despite there being several people who have suspected to be behind this name, the world is still yet to know who the real Satoshi is, or even what that name means.

What is the real play behind Satoshi’s anonymity?

Owing to the valuation of Bitcoin, as well as the potential that this cryptocurrency bears, it is highly unlikely that Satoshi would simply want to simply reveal his identity. He or she would gain lots of attention from the media and would end up being subject to discussion. It is easy to influence a human being to make certain decisions that will favor a select group of people. In the current world, Satoshi would barely survive encounters with people who were after influencing the trends with this cryptocurrency.

Another thing that would lead to Satoshi’s anonymity is safety. When Bitcoin was introduced back in 2009, very few people were willing to utilize this crypto or even mine it. It is also known that 32,489 blocks were mined back then and that each block attracted a 50 Bitcoin reward rate. This means that 1,624,500 Bitcoin were mined at that time. It is suspected that Satoshi and a small group of miners could have been the ones behind this mining. This automatically makes Satoshi a target of criminals, thus the move to stay anonymous.

What is Bitcoin Mining?

This is the process by which Bitcoin, abbreviated as BTC, is released for circulation. This process involves the provision of solutions to very complex mathematical solutions, which then creates a new block that is added to the blockchain.

This process leads to the addition and verification of transaction records, across the entire network. When someone solves the complex arithmetic and adds blocks to the blockchain, they are usually rewarded through being given several bitcoins. The number of Bitcoin that a miner can receive is usually halved after every 210,000 blocks. The complex arithmetics have been set to get harder with time, a thing that results in the decrease in the number of Bitcoin that one receives for providing the solution. The chance of solving these complex arithmetics is currently very low (more than one in 12 trillion). Miners have therefore had to advance from the use of simple desktop computers to very technical hardware listed below:

• Application-Specific Integrated Circuits (ASIC)
• Graphic Processing Units ( GPUs)

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I hope that you enjoyed this article about Bitcoin Investing and that you are more informed about the various facts and concepts about this Crypto. Feel free to express your thoughts in the comments section, and to also drop a question if you have any.

I wish you success!

Eric, investor, entrepreneur and team member of Gold Retired.

Are there any specific ways in which you can invest in Bitcoin? What are the unique characteristics of each investment approach? If such are the questions that you have been asking yourself, then you are in the right place. Herein, I will be discussing the best approaches you can rely on to make investment income from Bitcoin. Some of the main areas I will highlight include:

• What are the characteristics of Bitcoin as an investment asset?
• The best approaches to invest in Bitcoin

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It’s exactly one decade since Bitcoin was launched. What would it take you, and how to invest in Bitcoin in 2020 (and beyond)? Are there any steps that you should follow for you to be successful at a cryptocurrency investment attempt? If you have been asking yourself these questions then you are in the right place. Herein, I will be showing you:

• Why people have been purchasing Bitcoin
• Why Bitcoin is valuable
• How the price and value of Bitcoin are set
• Why you should start investing in Bitcoin
• How to Invest in Bitcoin
• Will your Bitcoins be secure?
• What about Bitcoin Mining?

[Read more…]