What is Bitcoin and how can one invest ??
Bitcoin is the oldest cryptocurrency in the market, which, in this case, is barely a decade old. If Bitcoin was human, it would be in the sixth grade right now. Despite being in its nascency, wealth fund managers believe Bitcoin is probably your safest bet if you’re looking to invest in the crypto market.
While cryptocurrencies are inherently volatile, the trust Bitcoin has been able to garner with the crypto community — and outside of it — makes it unlikely to disappear with the flip of a switch.
“Crypto is kind of analogous to… The genie is out of the bottle, right,” Michael Sonnenshein, the chief executive of the largest cryptocurrency asset management company in the world — Grayscale Investments — told Business Insider during a Twitter Live.
What exactly is Bitcoin?
Bitcoin is known to be the largest cryptocurrency globally, in terms of market capitalisation. It’s also the first digital currency that leveraged peer-to-peer technology in order to facilitate real-time payments. As of June 2021, 18 million Bitcoins were mined successfully and less than 3 million are left to be discovered.
What makes Bitcoin special is that it’s a form of digital or virtual currency that is entirely free from any third party intervention or control. Its value was nothing a decade ago, but each coin is worth almost $50,000 today.
The bitcoin blockchain is a new way of organizing data. It is a structure that builds on itself. Each block contains information that has been verified and can’t be erased or rewritten. Since it’s leveraged via the open internet, Bitcoin isn’t dependent on any government or geographic border.
Bitcoin uses blockchain technology and encryption keys to connect buyers and sellers. It can be used for payments and countries like El Salvador have even made it a legal tender. For smaller economies and businesses, it offers a third-party-free medium of transaction that helps reduce expenditure on exchange fees and transaction charges.
Today, more than 100,000 merchants accept Bitcoin for payments, and anything can be bought. Right from a pizza to an extremely complex piece of machinery.
Since Bitcoin is based on blockchain technology, it helps keep track of all the transactions within the system. The information stored on the ledger is related to each Bitcoin, and cannot be changed or altered. This makes it an excellent tool to ensure complete transparency and decentralised governance. And, that is why enthusiasts and true believers believe that Bitcoin has the potential to one day operate alongside fiat currencies like the dollar, euros, or,any other currency.
Not everyone has the computing power to mine for Bitcoin, but that doesn’t mean they can’t simply buy the cryptocurrency — all you really need is an account on any crypto exchange,like coinmacltd.com.
CoinMac is a fully registered and licensed company in USA top crypto exchange and backed by Binance, the world’s largest crypto exchange. One can start investing for as low as $50 in less than 60 seconds with the Quick Invest feature and get make profit within 24hrs.
Technical analysis and trading with Bitcoin
Technical analysis of Bitcoin, or any cryptocurrency for that matter, considers the history of a coin with price charts and trading volumes, no matter what the coin or project does. It also relies on the idea that movement in terms of pricing is not random — ever. Instead, these price movements follow short or long-term trends.
Technical analysts observe patterns of price movements, trading signals, and other analytical tools to evaluate the strength and weakness of an asset. Although multiple factors could have influenced the price of a coin, technicians assertively review trend lines, resistance and support levels, moving averages, and trading volume.
After the account is set up, users can start investing or trading in cryptocurrencies
To invest, you just need to transfer Bitcoin from your Bitcoin Wallet to the CoinMac wallet.The process is as easy as ordering something from an e-commerce store and requires no extra effort.
It’s essential to choose a trusted crypto exchange such as CoinMac ltd because of its high standards of safety. Despite being an unregulated segment, CoinMac has opted for self-regulation that ensures the platform is not leveraged for illegal transactions, money laundering, or running scams.
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