This article will introduce you to the Digital currency Bitcoin (BTC). Bitcoin is the first and most well-known digital currency in the world, this currency code has unique features that make it superior to other common currencies. The digital currency market, which is based on Blockchain technology, has been very popular in recent years, and most people are gaining knowledge and learning about this amazing financial technology.
What is Digital Currency Bitcoin?
Bitcoin is a digital currency that was introduced to the world in January 2009. Compared to other online payment gateways, Bitcoin charges a lower fee for transferring customers and is decentralized, meaning that it isn’t monitored by any entity or organization, and everything including transactions is made on the blockchain platform.
To mine this digital currency, special devices are used that have a very high power consumption and for this reason, many countries do not consider it economical to produce them. In the continuation of this article, you can fully be introducing Digital Currency Bitcoin.
Bitcoin as well as all available digital currencies have unique features that make these currencies superior to real currencies:
1. Decentralization: Decentralization means that it is not overseen by any organization or government and that transactions with Bitcoin or other digital currencies don’t require an intermediary or third party to approve the transaction.
2. Ease of the transaction process: Due to the lack of a regulatory body, the lack of strict and complex rules for trading, the full transparency of the market and its information, as well as the lack of ownership of any government in this market, trading with Bitcoin or other digital currencies is much easier than real markets.
3. High-security: Bitcoin has no physical equivalent and is only made of digital codes that people can provide activities in the digital market by providing these codes. The extraction of these codes is very complex and it is impossible to access its codes and to cheat or duplicate transactions in the digital currency market.
4. The anonymity of individuals: One of the special features of Bitcoin is the anonymity of the identities of the two parties to the transaction for each other, which makes it almost impossible to track the people who make these transactions.
5. Easy to carry and move: Because Bitcoin is a digital currency and has no physical existence, it is much easier to transport than real-world currencies.
6. Non-collection of taxes: Bitcoin and other digital currencies aren’t currently fully recognized by any country and governments still don’t know how to deal with these currencies, the activity in this market isn’t currently taxed and is a great place to do great deals.
7. Irreversibility of transactions: As the identity of individuals in Bitcoin transactions is completely anonymous, it is not possible to return or change it if another transaction is registered. Due to this feature, it is recommended that you be very careful when making this type of transaction and make sure that the other party’s wallet information is correct because if you make a mistake in the transaction, it isn’t possible to return or change the transaction.
How to Trade Bitcoin
In the first step, you can buy Windows VPS to trade Bitcoin. Then, you should choose a suitable wallet. There are several wallets to hold Bitcoin and you should carefully choose the most secure wallet that supports Bitcoin digital currency. Choosing a wallet is one of the most important principles of investing in digital currencies because you are going to invest your assets and capital in it.
Of course, many people prefer to keep their Bitcoin in an exchange office. This is suitable for people who either have little Bitcoin or want to keep their Bitcoin for a short time. Most traders who trade Bitcoin on a daily basis use this maintenance method.
Next, you should select a reputable exchange that offers Bitcoin. All your transactions will be done in the context of this exchange, so be careful in choosing it.
In the last step, you must specify your payment method. There are different payment methods that some exchange offices support all of these methods and some others support more limited methods such as payment by email, payment via WebMoney, cash payments, PayPal, and Western Union.
Best Bitcoin Wallets
The following wallets are currently the best options available for storing Bitcoin:
1. Trust Software wallet
2. Ledger Hardware wallet
3. Trezor Hardware wallet
4. Mycelium Software wallet
5. BlueWallet Software wallet
6. Electrum Software wallet
7. Exodus Software wallet
8. Bitcoin Wallet Software wallet
9. Blockchain.com Software wallet
10. Bitcoin Paper wallet with Bitaddress.org
In this article, Digital Currency Bitcoin was introduced and its features were listed. You can choose your suitable wallet from the introduced wallets. There are several ways to buy and sell Bitcoin in the world, and each person can choose one of these routes for their transactions according to their circumstances. The best and safest way to trade Bitcoin is written in this tutorial.