Bitcoin is a cryptocurrency created in 2009 by an unknown person named Satoshi Nakamoto. Although the currency has been around for a long time, its popularity increased a few years ago when merchants started accepting it as a means of payment. Besides using it in your trading, you can trade it to make huge profits.
Advantages of currency trading
There are many reasons why you should consider buying coins. Some of these reasons include:
Ease of access: Unlike the stock market and other trading channels, there are almost no barriers to entry in the Bitcoin market. All you need to do is identify a seller from whom you can buy. Identify a buyer interested in selling and you’re good to go.
Global: You can trade currencies from anywhere in the world. This means that a person in China can buy or sell bitcoins in Africa or anywhere else. This makes the currency important because it is not influenced by the economy of a single country.
It is unstable: Like other currencies in the forex market, Bitcoin is extremely volatile. This means that it changes its price quickly due to slight changes in the economy. If you take advantage of the change, you can gain a lot.
24/7 trading: Unlike the stock market which operates during business hours, Bitcoin trading takes place throughout the day and night. Trading restrictions aren’t just on-time.
How to get Bitcoins
If interested in getting into the market, there are plenty of ways you can use to get coins. Some ways you can use it include:
Shopping in exchange: Here you have to enter the market, and you will see people who are looking to sell coins. You should locate a reputable seller and place an order.
Transfer: You can also get bitcoins from friends. Here a friend has to send coins through an app located on a computer or phone.
mining: This is the traditional way of getting coins. In this method, you use the computer to solve complex math puzzles. After successfully completing a puzzle you are rewarded with coins. Although this method is free, it is usually time-consuming.
Conclusion
This is what you need to know about Bitcoins and their trading. When you own the coin, you can decide to keep it in your digital wallet or trade it.