(A full explanation of Bitcoin - and how to profit from it)
What is bitcoin and how to profit from it
.png)
During the preparation of this article, the value of the Bitcoin currency reached more than 23,050.50 dollars, and the number may be higher than that when you read this article, so what is this currency? and in what it used ? This is what we will learn about in the following.
?What is bitcoin
Bitcoin is a completely digital electronic currency, and it is traded only over the Internet and there is no physics to it. .
?How is Bitcoin different from traditional currencies
There are more than one difference and we will get to know them in the following:
Traditional currencies are physical or stored with a credit card, but Bitcoin is virtual online in your account.
It is possible to buy and deal with traditional transactions via the Internet, but through electronic credit cards, and it is linked to information about you, such as your name and address, while Bitcoin is the exact opposite where you can deal with it anonymously.
Bitcoin is not subject to any authority, such as the central bank, government agencies or organizations.
These differences make the Bitcoin currency outside the effects of traditional economic factors, which also makes it desirable and popular for hackers to demand ransom and even for mafiosi, contraband and arms dealers simply because it is far from the eyes of the authorities or governments.
?When was bitcoin founded
The currency originated within the idea of the currency project, which appeared in 1998 through an article by the Asian writer "Wei Dai", who called at that time to create a currency that is digitally traded away from the central authorities and banks and became among the top 10 cryptocurrencies for 2022 .
?How do I use Bitcoin
The use of the bitcoin currency is like any currency that you can buy online only, except that there are some parties that refuse to deal with it for their own reasons, but dealing with it has become prevalent with every passing minute.
?How do I get bitcoin
The process is not complicated, you first need me to create an electronic Bitcoin wallet online, which is a service that is provided by many reliable global sites, then buy Bitcoin from multiple sources and then trade and trade with it through financial platforms, or even keep it as if you are saving your money in a bank account.
?Is there anyone who deals in bitcoin
If you asked that 7 years ago, the answer would be that very few accept it, but now it has started to spread widely from institutions, companies, even universities and banks, and it has been traded and listed on global stock exchanges.
How to earn from bitcoin
You can profit from the Bitcoin currency by buying the currency and storing it in your own account until its value increases and then you sell it . Remember that the Bitcoin currency, like any currency or commodity, can rise and fall according to certain circumstances, and that expectations indicate the possibility of it jumping $ 25.000.00 soon. Each sudden rise will lead to a sudden correction decline.
?Can Bitcoin Collapse
The answer is “Yes.” The previous currencies were subjected to a collapse and the Bitcoin currency is not infallible, but that requires political, economic and technical factors that are able to influence, and it is not easy.
Conclusion
Bitcoin is very profitable and trading in it can make you rich, but there are risks in investing in Bitcoin because the price fluctuation in it is not fixed, and here the article ends. you as soon as possible.