Simple Ways to Buy and Invest in Bitcoin8090949
What is Bitcoin?
Bitcoin is a decentralized, peer to peer, digital currency system, designed to give online users the ability to process transactions by way of digital unit of exchange recognized as Bitcoins. In other words, it is a virtual currency.
The Bitcoin system was produced in the year 2009 by an undisclosed programmer(s). Because then, Bitcoin has garnered massive attention as nicely as controversy as an alternative to US dollar, Euros and commodity currencies such as gold and silver.
Rise to Recognition
Bitcoin had not attained a lot attention in the world of business and finance before the year 2009. It rose to prominence in the 2011-2012 period when it gained over 300%. Bitcoin has had a 400% development in its value since the August of last year. As a outcome, venture capital firms and investors about the world continue to spend significance to the cryptocurrency.
In the first half of 2014, venture capital firms invested $57 million in Bitcoin in the first quarter, followed by an additional $73 million in the second quarter amounting to a total of $130 million, which is 50% higher than last year's total of $88 million. This is a total contrast to the situation in 2012 exactly where Bitcoin firms amassed a fairly meagre sum of $2.2 million.
These statistics prove beyond doubt that Bitcoin is worth your investment, which begs the question, how can you buy and invest in Bitcoin?
A guideline for novice investors in Bitcoin
The easiest and least complex method to invest in Bitcoin is by purchasing bitcoins. There are a lot of established firms, mainly in the US as well as abroad, who are involved in the business of purchasing and selling bitcoins, abbreviated as BTC.
Coinbase
If you are living in the U.S. then Coinbase is the place you are looking for. Coinbase offers it's customers with BTC at an estimated mark up of 1% over the current market cost. Residents of the United States have the option to sync their Coinbase wallets with their bank accounts. As a result, future payment transfers are made hassle free. This company also gives you the option of automatic bitcoin purchasing from time to time. For instance, if you're interested to buy $50 in bitcoins at the starting of every month, Coinbase allows you to set up an auto buy for that amount.
Be mindful of the terms and conditions before you start to use this service. If you have subscribed to an automatic bit coin service, then you will not be able to control the cost at which the BTC is bought every month. Note that Coinbase is does not function as a Bitcoin exchange i.e. you buy and sell the coins straight from the firm. Since the firm has to source the coins from other buyers, you may face delays or disruptions when laying orders during quick market moves.
