Simple Ways to Buy and Invest in Bitcoin6853783
What is Bitcoin?
Bitcoin is a decentralized, peer to peer, digital currency system, designed to give online customers the ability to procedure transactions via digital unit of exchange known as Bitcoins. In other words, it is a virtual currency.
The Bitcoin system was created in the year 2009 by an undisclosed programmer(s). Because then, Bitcoin has garnered huge interest as well as controversy as an alternative to US dollar, Euros and commodity currencies such as gold and silver.
Rise to Popularity
Bitcoin had not attained much interest in the world of business and finance before the year 2009. It rose to prominence in the 2011-2012 period when it gained over 300%. Bitcoin has had a 400% growth in its value because the August of last year. As a outcome, venture capital firms and investors about the globe continue to pay significance to the cryptocurrency.
In the first half of 2014, venture capital firms invested $57 million in Bitcoin in the first quarter, followed by another $73 million in the second quarter amounting to a total of $130 million, which is 50% greater than last year's total of $88 million. This is a total contrast to the situation in 2012 where Bitcoin firms amassed a fairly meagre sum of $2.2 million.
These statistics prove beyond doubt that Bitcoin is worth your investment, which begs the query, how can you buy and invest in Bitcoin?
A guideline for novice investors in Bitcoin
The easiest and least complex method to invest in Bitcoin is by purchasing bitcoins. There are a lot of established firms, mainly in the US as nicely as abroad, who are involved in the business of buying and selling bitcoins, abbreviated as BTC.
If you are living in the U.S. then Coinbase is the place you are looking for. Coinbase offers it's clients with BTC at an estimated mark up of 1% over the current market cost. Residents of the United States have the option to sync their Coinbase wallets with their bank accounts. As a result, future payment transfers are made hassle free. This company also provides you the option of automatic bitcoin buying from time to time. For instance, if you are interested to purchase $50 in bitcoins at the beginning of each month, Coinbase enables you to set up an auto buy for that quantity.
Be mindful of the terms and conditions before you start to use this service. If you have subscribed to an automatic bit coin service, then you will not be able to control the price at which the BTC is bought each month. Note that Coinbase is does not function as a Bitcoin exchange i.e. you buy and sell the coins directly from the firm. Since the firm has to source the coins from other buyers, you may face delays or disruptions when laying orders during quick market moves.