investing in cryptocurrency

This short guide is for people who want to know what bitcoin is, how to get it and how it can be useful, but do not want to go into technical details. It explains how the system works, how to use it to make a profit and when to be careful. It also lists resources to help you store and use the digital currency. What is Bitcoin Bitcoin (Bitcoin) appeared in 2008, right after the Occupy Wall Street movement accused big banks of abusing borrowers' funds, cheating customers, interfering with the financial system and charging exorbitant fees. The bitcoin pioneers dreamed of transferring responsibility for transactions to sellers, eliminating intermediaries, abolishing interest rates and making transactions transparent in order to stamp out corruption and limit fees. They created a decentralised system where everyone could control their funds and understand what happens to them. In a relatively short time, bitcoin has gained impressive popularity. It is accepted for payment by companies around the world, from giants like Dell (NYSE: DVMT), Expedia (NASDAQ: EXPE), PayPal (NASDAQ: PYPL) and Microsoft (NASDAQ: MSFT) to a private clinic in Warsaw and a Burger King franchise in Russia. Bitcoin is promoted by websites on the internet, thematic media publish news about it, major online forums have been discussing the topic of cryptocurrencies for years and have been issuing their own coins. The system has its own programming interface (API), price index and exchange rate. Of course, there are also problems: hackers, high volatility and transaction delays. However, in some third world countries bitcoins can be the most reliable channel for receiving or transmitting money. Bitcoin for beginners: A complete guide Cryptocurrency, Bitcoins, Exchange, Mining, Longpost Why Bitcoin? Simply put, the word bitcoin refers to either a virtual currency or the technology on which it is based. Transactions can be made with the currency - paying for purchases, receiving transfers and exchanging it for cash. The transactions use a special address encrypted with a 16-character key. The buyer decodes the code to transfer the bitcoins to the specified address. In other words, cryptocurrency is a digital exchange that allows you to buy or sell goods and services. The transaction is verified on a peer-to-peer computer network, which is similar to Skype or BitTorrent. Bitcoin for Beginners: A complete guide to Cryptocurrency, Bitcoins, Exchange, Mining, Longpost Transaction Features. 1. Irreversibility. Once confirmed, a transaction cannot be reversed. Under no circumstances. No one can interfere with the process - not you, not your bank, not the president, not Satoshi Nakamoto, not your miner. No one. If you send money, you send it. Full stop. If you send your money to a scammer or a hacker steals it from your computer, no one can help you. 2. anonymity. Neither the transactions nor the accounts are linked to any real-world entities. You receive bitcoins to a so-called address, which is a random string of about 30 characters. It is usually possible to trace the flow of transactions, but the address does not have to be connected in any way with the real identity of the user. 3. Speed and global reach. Transaction information spreads across the network almost instantaneously and is confirmed in a couple of minutes. Since the entire process takes place on a global computer network, your physical location is irrelevant. It makes no difference if you are sending bitcoin to your neighbour or to someone on another continent. 4. Security. The balance of bitcoins is fixed in a public key cryptographic system. Only the owner of the private key can send cryptocurrency to other addresses. Cryptography and the magic of big numbers make this scheme almost invulnerable to hacking. 5. Deregulation. You don't need to ask someone for permission to use the cryptocurrency. It's just software that's available to everyone. By installing it, you can receive and send bitcoins or other cryptocurrencies. Where can I buy bitcoins? You can get your first bitcoins from any of these sites. 1. a Bitcoin exchange where you can exchange 'regular' money for bitcoins. The resources are Coinbase and LocalBitcoins in the US and Canada, and BitBargain UK and Bittylicious in the UK. 2. a cryptocurrency exchange where bitcoins or cash can be exchanged for other cryptocurrency. The resources are BTER and CoinCorner. 3. An intermediary site that connects you directly with sellers willing to exchange bitcoins for cash. Resources: LocalBitcoins. 4. Sites where you can trade your goods or services for bitcoins. Resources: Purse and other sites. Attention! There are active fraudsters on bitcoin market, so before you use the service you should check reviews or ask questions on thematic forum. How does bitcoin work? Without going into technical details, we can say earn interest on bitcoin how to earn bitcoins fast