No doubt Bitcoin is one of the hottest topic of discussion in finance industry. Bitcoin is the latest Buzzword in the mouth of traders. It will not be wrong to say that investment and trading these days in fiat currency have decreased to a much lower rate as compared to cryptocurrency.
Now, you may think that why is to so? The reason is pretty simple! The cryptocurrency is highly volatile in nature and is decentralized. Bitcoin is not controlled by a third party which makes it a completely free currency and you don’t even have to pay tax to anyone no matter how much you earn.
Definition of Bitcoin
Bitcoin is a digital currency that though we cannot hold in our hands like fiat currency, but definitely can see it in form of numerical on computer and mobile screens. The value of Bitcoin is much higher than any regional fiat currency and just like dollars, pounds and rupees we can pay Bitcoins for taking any service and shopping.
That is it. This is where the similarity between fiat and cryptocurrency comes to an end.
- Bitcoin users are anonymous
Yes, you heard it right! Bitcoin users are anonymous. When you do an online transaction with Bitcoin, instead of your account details or name, all you see is a wallet ID. It keeps the identity of the user anonymous and every time you do a transaction, a new wallet ID is generated. It is very tough for the hackers to track and find out the details of the account or the transactions, however in case of online transactions with fiat currency, a lot of details regarding the person comes out in open.
Cryptocurrency is completely digital. Infact the existence of Bitcoin is totally depended on internet. If there is no internet, there is no bitcoins. Infact the ledger for the transactions of Bitcoin is available online for public, where each and every transaction is recorded. You can trade Bitcoin digitally, by visiting https://thebitcoinstorm.com.
Bitcoin is a decentralized currency and that is the biggest power of this cryptocurrency. It is not controlled by a third party unlike traditional paper currency. No banks or government is authorized to regulate and make any laws regarding cryptocurrency. Nor you require paying to government in form of taxes, your earnings. Your cryptocurrency is fully yours and no one can claim over it.
How to get Bitcoin?
Ok guys, it is just a calk walk to get Bitcoin. You can easily purchase Bitcoin from crypto-exchange with the help of debit or credit card. Just to keep a little thing in mind that before you purchase Bitcoin, get a Bitcoin wallet which will help you get a wallet ID and it will be helpful for doing transactions, buying, selling and storing Bitcoins.
It is fine if you do not want to spend huge amount of money for purchasing Bitcoin. You can mine it. Yes, you heard it right! Just like to mine diamonds and gold, same way go ahead and mine Bitcoin.
However, you do not need a yellow cap with torch and a hammer to mine out the Bitcoins. You can mine Bitcoin at the comfort of your home. All you need is an advanced computer, knowledge of algorithm and Maths.
Mind you, the Maths problem is not easy at all and is full of puzzles. However, if you successfully solve the puzzle, you will be awarded with Bitcoin.
At last, I would like to say that it is really wise to invest in Bitcoin as it has high probability of making you rich. So go ahead and start trading Bitcoin.