Bitcoin BTC is a decentralized encrypted digital currency, used as a virtual money as an alternative to traditional currencies in commercial transactions, payments and transfers, it is not monitored or supervised by any government and is not subject to any official supervision, and is exchanged without the need for an intermediary or a third party, and all its transactions are made Decentralized through a network called a blockchain.

 

Cryptocurrency trading for beginners

Many interested new investors may not know where to start. With so many technologies, assets, exchanges, wallets, dashboards, and regulatory considerations to be made.

 

Therefore, it is necessary to educate yourself about the basics, understand the nature of the market and the nature of its movements, follow the news of digital currencies and exchanges of encrypted assets, and study the influences on it and the extent of its impact before looking for the best trading practices from buying, selling, keeping, and so on.

 

If this is your first time buying cryptocurrency, you will need a way to exchange your regular currency for cryptocurrency.

 

For most investors, the easiest and safest way to do this is to create an account with a reputable cryptocurrency exchange. Cryptocurrency exchanges allow users to buy, sell and hold cryptocurrency.

 

You will need to link your account or wallet with a payment method: such as a debit card, credit card or bank account transfer in order to fund your wallet, bearing in mind that your funds within the platform may not be in USD or traditional currencies but with an alternative currency such as Tether USDT.

 

Bitcoin trading

Bitcoin trading takes place in two ways:

 

The first method is to keep Buy & Hold

Just like stocks or metals are treated like gold, it means that by opening an account and wallet in one of the well known/reputable bitcoin trading platforms and depositing the investment amount.

 

Where you buy bitcoin and keep it until it reaches a higher value and then sell it to make a profit on the difference between the purchase price and the selling price, and bear the risk of the opposite happening, of course after analyzing and studying the movement.

 

The second method is speculation Active Trading

It is done by trading Bitcoin against one of the regular or other encrypted currencies through CFDs, just like gold and oil contracts that most brokerage companies offer now.

 

It has even become available for trading through the Metatrader platforms, the most popular, in some companies and it is also possible to trade it using leverage.

 

Or against other cryptocurrencies such as ETH or XRP, as provided by your cryptocurrency exchange/platform.

 

Is Bitcoin really used by people in commercial transactions?

Yeah. There is an increasing number of companies and individuals using Bitcoin today. This includes traditional businesses such as restaurants and convenience stores, as well as popular online electronic services. While Bitcoin remains a relatively new phenomenon, it is growing rapidly.

 

Why was the digital currency Bitcoin created?

Bitcoin BTC was created to be a decentralized currency, not affiliated with any financial authority that monitors, controls or confiscates it, while providing security and privacy factors in its transactions, and at the same time facilitating the process of transfers quickly and at a lower cost and fees.

 

What does bitcoin mining mean?

Mining Bitcoin means that you contribute a sophisticated computer to the cryptographic puzzle of confirming the composition of the blocks that make up the main chain of the Bitcoin network through a sophisticated consensus system called Proof of Work (POW) to get Bitcoin as a reward when you complete a verified block that is added to the blockchain.

 

Where can you buy bitcoin?

Bitcoin BTC is the most famous and oldest digital currency, so it can be obtained from almost all crypto-asset exchanges and exchanges, and it can be bought against traditional currencies such as the US dollar or the euro or against other digital currencies such as Ethereum, Ripple or Tether.

 

How can I get BTC?

Bitcoin is the first and most famous digital currency, so you will not find it difficult to obtain it, compared to other digital currencies, and you can get it in several ways, the most important of which are:

• Buy Bitcoin directly from an exchange/trading platform that provides it.
• Direct exchange with someone close to you, such as local exchange sites.
• Bitcoin mining.

 

Are bitcoin transactions safe?

For merchants, Bitcoin transactions are secure, irreversible, and do not contain sensitive or personal information of customers.

 

This protects merchants from losses caused by fraud or fraudulent charge backs, and in turn enhances confidence in them and the growth in demand for them by institutions and commercial entities

 

Also for customers where Bitcoin users are in complete control of their transactions, it is impossible for merchants to charge unwanted or unnoticeable fees as can happen with other payment methods. Bitcoin payments can also be made without personal information being linked to the transaction.

 

Can I make a fortune with Bitcoin?

You should never expect to get rich quick from Bitcoin or any emerging technology. It is always important to be wary of any financial asset whose prices fluctuate strongly or that go against fundamental economic rules.

 

Bitcoin is an emerging asset and is moving into a growing space for innovation and there is no guarantee that Bitcoin will continue to grow even though it has developed at a very fast rate so far.

 

There are different ways to make money with Bitcoin such as mining, speculating or running a new business. All of these methods are competitive and there is no guarantee of profit. It is up to each individual to make a proper assessment of the costs and risks involved in any such project.