Bitcoin is a cryptography and digital payment system designed by Satoshi Nakamoto. The software was released in 2009 as Open-source Software. It is a decentralized form of currency, which resides value within itself. The process of creating Bitcoin is called ‘mining’.

The software involves direct transactions between individuals and parties without any intermediaries. The Bitcoin transactions are absolute, these are secured with network nodes and recorded in public distributed ledgers called ‘Blockchain’. It became a trending topic in 2013 due to the extraordinary growth in a number of participants in Bitcoin transaction, in the first 6 months of 2014, venture capitalists firm made an investment of $130 million, which led to the evolution of 50% price of total value in Bitcoin.

STEPS ON HOW TO INVEST IN BITCOIN

PART-1 BUYING AND SELLING BITCOIN

  1. Create a Bitcoin wallet and sign-up with.

  2. Link your bank account with the wallet.

  3. Invest the money from your bank account to buy Bitcoin.

  4. Use Bitcoin to buy from the retailers who accept it.

  5. Sell your Bitcoin to another user. (For the process of selling the Bitcoin, you need to create a separate account.

  6. Sell your Bitcoin to exchange.

PART-2 USING SUBSTITUTE POSSIBILITIES

  1. Set-up a regular purchase scheme.

  2. Buy BTC from local market or community, with people nearby.

  3. Buy BTC from Bitcoin investing company.

  4. Consider ‘mining’ BTC.

PART-3 EARN MONEY FROM YOUR INVESTMENT

  1. Buy at low, sell at high.

  2. Keep an eye on market trends.

  3. Use earned funds to buy more BTC.

  4. Only invest the sum of money in BTC, which you can afford.

  5. Always be patient, while investing in BTC.

RISK FACTORS

Though Bitcoin is most popular and excellent in digital currency market, it involves great degree of risk. Here are some risk factors, which should be kept in mind, while investing.

  • No proper safety measures for investors.

  • Government regulations.

  • Great market competition.

  • Lack of security in services.

  • Highly unpredictable.

BENEFITS

Bitcoin transaction involves many advantages for the investors. It makes many of things possible, which could be a difficulty for others.

  • Worldwide services.

  • No fabricating.

  • Information transparency.

  • Low Fees

  • Irreversible transactions.

SOME MAJOR COMPANIES ACCEPTING BITCOIN

  • WordPress

  • Amazon

  • Expedia

  • com

  • Beepi

  • VRPO

  • Dell

  • PayPal

  • DISH

  • EGifter

  • Florida Golf Coast University

  • Subway

  • Victorias Secret

  • Fiverr

  • Kmart

  • Home Depot

  • Zappos

  • Sears

  • Tesla Motors

WHY SO MUCH TRENDING?

Bitcoin is one of the most popular and amazing digital currency of nowadays. Admiration of Bitcoin raised in 2013, when RBI passed a statement against Bitcoin and later in 2015, again in the Statements of RBI there were held appraisal for Bitcoin currency system. Demand for digital currency will likely to increase by the end of 2017. The growth in value of Bitcoin is tremendous as compared with other alternatives likeLitecoin, Ethereumand Zerocash with the value of $18 billion. Hence, investing in Bitcoin would be better for all speculation engagements.

Niharika Sonkar

A Social Media geek who enjoys writing about youth and their life. Marketer by profession, Digital marketer by passion.

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