Are you interested in Bitcoin as an investment? Bitcoin as a currency is hot as ever, with Bitcoin prices setting new records almost daily. Bitcoin Up has been enjoying its time in the sun because it’s becoming easy to use Bitcoin to buy products and services online, many businesses have also found Bitcoin to be an attractive means of payment for their products and services. With increasing demand and growing adoption, Bitcoin prices will continue increasing over the next few years. If that sounds like you then this article may hold some value for you.

For those who are not familiar with Bitcoin, we will give a brief explanation – Bitcoin is digital money (with no physical coin) that can be sent anonymously from one person to another without having to go through any bank or clearinghouse. Bitcoin transactions are stored in a public ledger called The Bitcoin Blockchain, which is publicly available for anyone to access and read. Bitcoin operates through the Internet using peer-to-peer technology; users can transact directly without needing an intermediary like a bank or PayPal. Bitcoin uses cryptography, with Bitcoin addresses and private keys generated through its open-source cryptography known as Elliptic Curve Cryptography (ECC).

Bitcoin wallets

Bitcoin wallets (like Bitcoin-QT, Electrum, and Multibit) make it easy to send Bitcoin payments, but these companies also have their own wallet address where you can receive Bitcoin directly into your account. If you do not have any of these types of accounts then you need to find someone on the internet who already has one that will be willing to send Bitcoin directly to you. Bitcoin transfer is completely anonymous and private, which means Bitcoin wallets don’t need to be registered with a government ID for example.

Most Bitcoin users store their Bitcoin online in a wallet, which basically means that they use an account (like PayPal) with an e-commerce website such as Coinbase or Circle. These sites make your Bitcoin available through your browser or mobile phone app and allow you to do things like buying Bitcoin from other people using either cash or bank transfers; all of these accounts are secured by Bitcoin addresses and private keys (think public and private username and password). When it comes time to spend the Bitcoin then most sites will generate QR codes that can be scanned at checkout – either with a smartphone barcode scanner (such as Bitcoin Checker for Android or Bitcoin Reader for iOS) or a Bitcoin payment card that has the appropriate Bitcoin address and private keys printed onto it.

Bitcoin Buying

You can also buy Bitcoin directly from other people using cash (and many other e-currencies), local Bitcoin classifieds like BitMit and Mycelium Market allow you to sell Bitcoin locally. To use these services you need to have a wallet, so the next thing is to generate your Bitcoin address – which can be done with all wallets because they all come with unique Bitcoin addresses. In order to receive Bitcoin from someone else, you need to give them this Bitcoin address so they know where to send them.

Popularity of BTC

Bitcoin is starting to become extremely popular because of its convenience, anonymity, security, etc. Bitcoin also makes international money transfers easier, eliminating the need for things like SWIFT codes and bank intermediaries. Bitcoin exists wholly in cyberspace, which means Bitcoin transactions can occur between people on opposite sides of the planet instantly, safely, and cheaply (almost free). Bitcoin is growing every day with no signs of stopping; Bitcoin price gets higher every day because Bitcoin has become popular enough that the demand is starting to outweigh the limited supply available.

Because Bitcoin value is determined by how much people are willing to pay for Bitcoin any time there is a lack of liquidity (when trading volume slows down) then Bitcoin prices will drop; when trading volume picks up then Bitcoin prices will rise again. 

Bitcoin’s Safety

If you want to receive Bitcoin directly into your wallet then choose a Bitcoin exchange that operates in the country that your Bitcoin wallet is registered at, as Bitcoin trading laws vary from country to country. Bitcoin has been around for a number of years now and many Bitcoin exchanges have been hacked resulting in the theft of Bitcoin, people should be sure to make use of Bitcoin wallets that allow you to store your Bitcoin offline whenever possible.

Bitcoin investment is easy if you do it properly, there are also a lot of other e-currency investments such as Egold and Webmoney where investors can buy online with PayPal or credit cards. There are plenty more digital currencies besides Bitcoin, but they all operate similarly because they all require some sort of verification to allow people to spend their money.

Also Read: The Pros and Cons of Cryptocurrency