Things About Bitcoin That You Should Know

Recently, this cryptocurrency managed to cross $50,000 in value and reached the same level as gold. Not only that, but its network counts millions of people from all around the world and each day, thousands more are joining.
The reason why Bitcoin is so popular is that it holds tons of advantages over regular payment methods and other cryptocurrencies. Thanks to its superiority, many experts even believe that Bitcoin has the power to become a global universal payment method in the distant future.

Until that point is reached, we can only wait. In the meantime, we decided to name a few things about Bitcoin that you should now. The listicle is especially important for novice traders who are just starting their journey with this cryptocurrency. Let’s check them out.

Trading Sites Can Help You Profit

As you may know, trading sites are platforms where traders sell their Bitcoins and make money. These sites are more than just marketplaces. They have managed to integrate the latest AI systems and use them to help traders maximize their profits. Let us explain how.

These AI systems are complex algorithms that collect all the data about Bitcoin from the market. After the data is collected, they analyze it and use the results to make accurate predictions on how Bitcoin will fluctuate in the near future. As you know, Bitcoin’s volatility rate is high and its price changes with each passing day.

One of the trading sites that has managed to master this process is Bitcoin Billionaire. This platform has a huge daily profitability rate and has thousands of users from all around the world. All you have to do to gain access to its services is register. The registration process lasts just a minute.

Keep Your Private Key a Secret

The private key is basically the passcode to your e-wallets, the storage units for your facilities. It should not be confused with public keys – they are used to link traders which want to make a certain transaction. Keeping your private key a secret is a must and you cannot hand it out to any other person as people may use it to access your e-wallet and steal your Bitcoins.

Mining is The Best Way to Earn Bitcoins

When people are acquiring Bitcoins to make money, they often buy them, as the process is very easy. The problem with this option is that it costs money and has a huge risk factor involved. When people buy and hope to re-sell Bitcoins, they must take the volatility rate as a factor because in some cases, it can be their downfall. They might end up buying Bitcoin at a higher price than they can sell it and lose a lot of money.

That is why the best way to acquire Bitcoins is through mining. This is the hard way, but it is free, hence it guarantees you profit. Mining Bitcoins is actually solving various puzzles. For each puzzle that you solve, you receive Bitcoins as a reward. And if you are wondering what these puzzles are, they are Bitcoin transactions, or also known as blocks. Miners verify blocks and update Bitcoin’s blockchain.

You Can Use it As A Payment Method

Apart from making money with Bitcoin, you can also use cryptocurrency as a payment method in many places. Several countries around the world have even placed Bitcoin ATMs where you trade your assets for instant cash.

As for the companies that accept it as a payment method, some global brands that deserve a mention are Microsoft, AT&T, Starbucks, and Whole Foods. Recently, even Tesla has announced that they will join the network.