What is Bitcoin?
Bitcoin is a type of CryptoCurrency. It is also called modern technology. That is invented by an unknown person or group in 2008. In 2009, it was released as open-source software. There is no physical shape of this Currency. You can only convert Bitcoin Currency into your country Currency to use. By using Bitcoin Currency you can buy or sells online things in special markets. In America, you can buy products or services by using Bitcoin CryptoCurrency. It is the new and latest trending Currency.
Who Invented Bitcoin?
Bitcoin CryptoCurrency was created by a programmer or a group of programmers. In 2008, the financial crisis increase, then Satoshi Nakamoto can feel the need for a new kind of money. Then they publish a document on ‘How a peer-to-peer electronic cash system work. And they make a new Currency. This Currency is called CryptoCurrency.
Is Bitcoin A Scams?
Bitcoin was firstly introduced by Satoshi Nakamoto in 2009. It means this Bitcoin CryptoCurrency is 12 years old. People use this Currency to invest in different markets. It will help them to get more profit. If they know the best time to buy or sell Bitcoins. Then they get a high amount of revenue. That’s why Bitcoin is not a scam. It is real and trustable money through Bitcoin Up
Is Bitcoin for criminals?
No one can say or prove that Bitcoin Currency is used by criminals. This Currency is used by different persons for different purposes. In America, this Currency is used to buy things, foods. But, people can mostly use this Currency for business purposes.
But some fake persons sell you fake Bitcoins. They can get your Local Currency. And give you nothing in Bitcoin form.
What Is A Bitcoin Wallet?
Bitcoin wallet is a place that is used to store Bitcoins. You can access the Bitcoin wallet on your mobile phone, laptop, and computer. If you want to buy Bitcoins, then you must need a Bitcoin wallet. Without a Bitcoin wallet, you can buy any CryptoCurrency. The only thing you need for your Bitcoin wallet is the address.
How to choose a Bitcoin wallet?
It is very easy to choose your first Bitcoin wallet. But, it is very important to set your Bitcoin wallet recovery question. That is very helpful if you lost your password. Although, it is very helpful if you delete your wallet app or lost your smartphone. You can use these recovery words or questions to recover your previous wallet. But make sure you save your Bitcoin wallet question or words in a safe place.
How do I buy Bitcoin?
The process of buy, sell or store Bitcoins is not so much easy. In Hong Kong, you can buy Bitcoins in three forms.
- Over the Counter (OTC)
- Online Exchanges
- Bitcoin ATMs
These are 3 methods that are used to buy Bitcoins. But, for every method, you need to prove your id. That’s why Bitcoin trading sites ask you for some personal information. They ask you about your Email, credit card details, or address. If they find your identity is original, then they permit you to buy BTC Currency.
Online Crypto Exchanges
Pros
- Entry-level is lower
- 24/7 Self Service
Cons
- High Hacking Risk
- Some platforms do not support it.
- Large traders do not like it.
CryptoCurrency OTC Trading Platforms
Larger trades can not use the online Crypto exchange method to buy or sell Bitcoins. Because they can’t feel safe on this platform.
Over the Counter (OTC) is a platform. That is mostly liked by large trades. They can use this platform to buy or sell Bitcoin Currency. They feel safe while buy or sell Bitcoins. This method takes less fee or time.
Pros
- OTC enhanced privacy and security.
- Dedicated Customer services
- Large trades like them most
- Hacking Risk is much lower
Cons
- AML/ KYC Requirements
- Entry-level is very high.
How to use Crypto ATMs?
By using CryptoCurrency ATMs, peoples can easily buy or sell Bitcoins without any problem. The use of Crypto ATMs is like a local bank ATMs. You can do every work with Crypto ATMs that you can do by using simple ATMs.
Steps to use Crypto ATMs
- Choose Digital asset
- Click on purchase Bitcoins
- Input your Bitcoin wallet address
- Then, deposit your Hong Kong cash.
This is a very simple and easy method that is used to buy or sell Bitcoins. But, the condition is the same. You cannot buy any Bitcoin without having a Bitcoin wallet.
Pros
- Extra self-service with a high privacy rate
- Easy to access
- Available 24/7 time
- Entry-level is lower
Cons
- The trading fee is very high.
- A limited selection of Cryptocurrencies
- How to keep my CryptoCurrency safe?
There are many ways to buy or sell Bitcoins. But it is a difficult task to keep CryptoCurrency safe. If you are going to buy Bitcoins, then the first search about frauds and scams. Give time to search as much as possible. It will help you to keep safe from fraud.
As you know, you just need a wallet to buy BTC Currency. You also need to set high and very secure recovery words. That may help you when you accidentally delete the wallet app. So, it is very important to set a strong recovery question.
First research then buys Crypto is a dialogue used in the CryptoCurrency world. It means if you want to becomes a successful Bitcoin investor. Then, you just need to research at maximum level. As much you search about it. It will save you from bad persons or frauds.
10 ways you can do to make money with CryptoCurrency
- Trade CryptoCurrency CFDs
- Bitcoin Minning
- Long Term Investing
- Day Trading
- Arbitrage
- Cryptocurrency Faucet
- ICO
- Crypto Gaming
- Be a blockchain developer
- By advertising Crypto with affiliate marketing
Conclusion
I hope you will understand how to Trade. And how to start your Bitcoin journey. I start my explanation with the introduction to Bitcoin. Then, I tell your step by steps important facts about BTC Currency. In the end, I provide you 10 ways to make money with CryptoCurrency. I hope this article is helpful for you and easy to understand. If you have any problems or questions about this topic, please ask them in the comment section.
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