Bitcoin has changed the very nature of finance and trading as people know it. Economics has never been the same since that fateful night in 2017, but it’s all for the better.
Bitcoin may have shaken up the global market, but it’s done so with a solution that promises to prolong the dwindling economies of the world’s major countries.
For years now, the dollar and the US economy have been on a decline. The value of a single dollar continues to diminish while the poverty line stays the same. Over the next 10, 20, or even 30 years, one single dollar may not be worth much.
That’s because so many new dollars are printed every year. The more that’s produced, the less it’s worth. This is where Bitcoin comes in, as well as trading platforms such as Bitcoin Profit.
With Bitcoin, there are no concerns about supply affecting price. It doesn’t have the same creation procedures as currencies like the dollar, pound, or euro.
For some people, there’s little doubt about Bitcoin being the future, and platforms such as Bitcoin Profit can make it easier to start the journey.
There are many possible benefits to trading on crypto with Bitcoin Profit, a platform designed to give you flexibility and facilitate the process of trading. Below are some of the ways that Bitcoin Profit can help you embark on this journey:
Bitcoin is referred to by some traders as “digital gold,” and maybe for a good reason. The nickname doesn’t just come from the fact that Bitcoin can be valuable,, but because of the similarities, it has with physical gold itself.
It’s important to remember that gold was once the definitive currency of much of the world. Gold still powers the global economy today, serving as the backing for almost every major currency.
Gold is so effective at this because it’s a scarce resource. There is only so much of it to go around, and lots of people want it, giving it inherent value.
Bitcoin may be considered as much the same. There is only so much of it to go around, people can’t decide to make more of it like they can with the dollar, and many people want it.
The similarities between the two are striking and highlight just how useful Bitcoin can be in restabilizing the global economy in the future.
The biggest difference between the two is that gold is physical, and Bitcoin is digital. In this regard, Bitcoin has a possible advantage over gold.
Being digital means that storage and transportation isn’t an issue, nor is the idea that more people own gold than actual gold exists, which is a very real phenomenon.
This isn’t just speculation; this fact was on display when the markets crashed in 2020 due to the Coronavirus.
When the global economy died, for lack of a better term, everything crashed. This included Bitcoin. However, Bitcoin recovered far faster than any other market.
Why? Well, the big investors saw how risky investing in shares was at the time. A business can run out of money and file for bankruptcy if its trade is badly disrupted by something like a pandemic. Bitcoin, on the other hand, cannot file for bankruptcy. That’s why Bitcoin did better than many companies, but what about currencies?
As a result of the hit businesses took, each of those respective countries’ currencies also took a hit. The worse the effect of the virus, the lower the currency went. Bitcoin doesn’t belong to any single country or economy, protecting it from this.
Lastly, why did it do better than gold? The answer to this is surprisingly simple: ownership. Very few people invest in a gold house that golds themselves. This is left up to reserves and banks.
However, in the event of a total societal collapse due to something like a pandemic, how are they meant to get access to their gold? They can’t. All they have is a bill of sale. With Bitcoin, that currency is on hand at all times and doesn’t need special arrangements to store and transport.
Are you excited about Bitcoin as millions of others worldwide? Not only it might be a great asset for you to use to bolster your portfolio, some people truly believe it might save the economy in the future.
You don’t have to take their word for it, though; just look at the news. There’s more information about different institutions investing in Bitcoin every single day.
If you want to be a part of the full-on global phenomenon called Bitcoin, you might want to sign up for the Bitcoin Profit trading platform.
Next, you’ll receive a confirmation email, so you can verify your identity. Click on the link provided to be connected with your partnered broker, where you can log in to the platform by using the credentials you chose upon registration. Once that’s done and you’ve made your initial deposit, you’re ready to start trading live.
However, before you do just that, make sure to start by exploring the platform on all its features, by studying the market as much as you can, and generally by educating yourself so you can hopefully make well-informed decisions when you do start trading.
And one last word of advice: make sure to trade responsibly, don’t give in to fads and unsolicited advice, use your better judgment, the information provided by the platform on a daily basis and the know-how of your account manager, and always remember your limitations, so never invest more than you can possibly afford to lose.
Trading Bitcoin can be a fun experience, but it can also have ramifications for your financial future, so be sure to understand both the risks involved and upcoming trends. There’s a lot of talk about major regulations and adaptations coming in 2023, especially in the US, regarding how the government can use the currency.
Once those regulations are put into place, the value of Bitcoin might skyrocket. If that indeed happens, it might be a good idea to start investing before. Of course, you can always join the market, later on, there’s no pressure to jump in headfirst, but if you dedicate the time to at least start learning how the market works and getting your feet a little bit wet, it might hopefully make you a savvier trader when you actually decide to dive right in.
This is one of the priorities at Bitcoin Profit. The team aims to provide users with a smoother experience and a more comfortable environment for both learning and practicing their skills, so they can gain the knowledge they need to hopefully become better traders.
The platform’s minimum deposit of $250 is set up to do just that. This amount is enough to give you a stable base to start investing with without being too high that it locks certain people out of the platform or presents a massive risk.
Perhaps this would be a good moment to take a step back. You might have only heard of Bitcoin recently, in which case a lot of what you’re reading is going to sound like gibberish if you fall into this category, no worries. You got to start somewhere.
Bitcoin, in the simplest terms, is a currency. Despite its similarities to gold, it works as the dollar does. You can buy things with it depending on the retailer online, and you can accept it as a form of payment.
That’s what Bitcoin is in a nutshell: a digital currency. But that’s where the similarities end.
Bitcoin is inflation-proof because of how new units are created. Rather than being printed on the demand of a group of executives, Bitcoin is made through an automated network process that is completely free from human interference.
Therefore, Bitcoin can never really be subject to any inflation. The rate at which it’s produced is automated and constantly diminishes with each passing year, making an oversupply impossible.
This process, the one through which Bitcoin is made, is called Bitcoin mining.
The Bitcoin that the network produces doesn’t just automatically get distributed into the market, though. This is another aspect of the coin that makes it safe from inflation.
Instead, new Bitcoin is used to pay “Bitcoin miners.” Bitcoin miners are the people that use their personal hardware to help support the Bitcoin network or the blockchain.
These people spend thousands of dollars on cutting-edge equipment and hardware only to leave the equipment sitting there, turning it into a glorified server. As well as this, they monitor the network and authenticate the movement of coins. This makes sure that there are no issues with day-to-day operations.
Naturally, people aren’t going to do this for free, so the network pays them. They effectively work for Bitcoin, or at least the computer code that makes up the Bitcoin blockchain.
The rate at which Bitcoin pays out to these miners decreases by half roughly every four years. It’s not based on time but rather on how many blocks are mined.
This allows Bitcoin to retain its value as time goes on and demand for the coin increases. By actively decreasing the supply of Bitcoin as demand goes up, the coin may be going to increase in price.Read More
As well as that cut in production, the amount of Bitcoin that can ever be mined is capped at 21 million. Once that 21 million limits are reached, no more Bitcoin can ever be produced.
While this is undoubtedly going to have a massive impact on Bitcoin and its value, it’s not something that you need to consider at all.
This is because that 21 million limit reach isn’t going to be hit for another 120 years or so.
Despite how long that is away, it’s an important bit of information as it allows Bitcoin to act like gold as opposed to the dollar. It’s a scarce resource.
There’s little doubt that Bitcoin may be the future. Humanity needs to come up with new economic solutions, and it needs to do so fast.
Bitcoin has already presented itself as the definitive fix to the inflation issue that many countries are currently facing, which is why it has increased so much in value.
While popularity isn’t the only defining factor of a good investment, it definitely is when it comes to crypto. People aren’t buying Bitcoin because of the hype or because it’s a trend. That happened in 2017, but it hasn’t happened since.
Instead, people are buying Bitcoin because they realize how valuable it may be, as well as how valuable it may become.
At Bitcoin Profit, you have a chance to start this journey yourself with a platform that makes trading more accessible and straightforward.
Bitcoin is still a relatively new technology. It might have been around since 2009, but it’s only recently that people are starting to take any real notice of it. This means that people still have all kinds of questions about it. This is only to be expected given the technology and economic science involved.
To try and help you grasp Bitcoin a bit more solidly, below is a short FAQ list for you to have a read-through.
As was briefly mentioned above, 2017 was a watershed moment for Bitcoin. Yes, Bitcoin came around in 2009, the year it made its first public appearance, but it didn’t gain a lot of popularity until 2017.
One particular trading whale made a sudden and very large investment in Bitcoin, and this investment was so great that it drove the price up by a ludicrous amount overnight.
The increase in price caught the attention of other traders, who started investing in droves. This then caught the media’s attention, which began running stories on Bitcoin, which in turn brought more investors.
This vicious cycle continued until even people that knew nothing about trading or cryptocurrency were investing thousands of dollars. It became a ludicrous idea of a get-rich-quick scheme. It wasn’t, obviously, and eventually, the bubble popped.
Yes and no. It’s impossible to say what Bitcoin is worth right this minute, but a safe guess is that it’s somewhere around this figure. However, that doesn’t mean that you need to cough up five digits to invest.
Instead, Bitcoin is actually broken down to the eighth decimal point. These smaller Bitcoin units are called Satoshi, named after Bitcoin’s creator. This breakdown allows you to buy as little as one dollar worth of Bitcoin, making it infinitely more accessible to traders worldwide.
Satoshi Nakamoto is the alias used by the person or group that developed Bitcoin. Nobody actually knows who or what the alias belongs to. The name disappeared from the web not too long after Bitcoin was released, leaving it shrouded in mystery.
Ultimately, though, it doesn’t matter. The point of using an alias in the first place was to demonstrate the anonymity of Bitcoin. It doesn’t matter who or what created it because it doesn’t belong to them. Bitcoin belongs to the world, not any individual or organization.
Yes, trading Bitcoin is legal in most countries worldwide, although it has been illegal in China since 2019. However, this is beginning to change, and even China is currently updating its laws regarding cryptocurrencies. Be that as it may, it is always advisable to check what rules and regulations apply in your country before you start trading.