Mastering Bitcoin 101: How to Start Investing and Profiting from Bitcoin, Blockchain, and Cryptocurrency Technologies Today (for Beginners, Starters, and Dummies)

By Ethan Muller

★Learn my Complete Blueprint to Easily Start Investing and Profiting from Bitcoin Today★

 

Are you interested in investing in Bitcoin?

 

Want to learn how cryptocurrency works?

 

Or how Bitcoin can benefit your business strategy?

 

If the answer is YES, this informative guidebook is for you...

 

Bitcoin remains exciting and popular, and as it transitions through recent fluctuations the questions are still; will it rise again, should you start investing in it and what steps should you take?

 

The answers to these questions are provided inside Mastering Bitcoins 101: How to Start Investing and Profiting from Bitcoin, Blockchain, and Cryptocurrency Technologies Today, which gives you simple, informative and actionable strategies for:

• What is blockchain technology
• How to buy and invest in Bitcoin
• How to choose the right trader
• How mining works
• How to sell Bitcoin
• What issues to expect from exchange platforms
• Tips to maximize your success
• Common dangers and pitfalls to beware of
• And much more...

Every crypto-currency beginner should have access to information that is understandable and simple, yet informative, that will set you on the right path.

This book will help you decide whether Bitcoin is right for you and how to proceed if and when you decide it is.

 

Get started with Mastering Bitcoin with just one click!

• Language: English
• Publisher: Ethan Muller
• Release date: Apr 16, 2020
• ISBN: 9781393313595

Book preview

Introduction: What is Bitcoin?

Bitcoin is a currency that was created less than a decade ago (2009) by Satoshi Nakamoto, which is an alias. Bitcoin transactions can be made without middlemen. In other words, without banks. Bitcoin prices went way up just this year and continued to rise. In Mastering Bitcoin 101: How to Start Investing and Profiting from Bitcoin, Blockchain, and Cryptocurrency Technologies, you will learn all about how you can invest in Bitcoin.

First, we’ll give a brief overview of bitcoin essentials, then we’ll look closer at them throughout the book. This book also reveals actionable steps that you can use for investing in Bitcoin.

What Is the Appeal of Bitcoin?

Bitcoins are used to anonymously purchase merchandise. Bitcoins also allow for cheap, easy international payments because they are not subject to regulations or tied to specific countries. In addition, small companies might appreciate bitcoin because there are no credit card fees. This is why so many people prefer using Bitcoin for online transactions.

In addition, Bitcoin is more anonymous than traditional currency. Even though each transaction with Bitcoin is recorded, the names of sellers and buyers are not revealed; just their wallet IDs are. This keeps transactions private and allows people to purchase whatever they want without their purchases getting traced back to them. You may have heard of the Silk Road, the online portal for purchasing drugs and other illicit items. Bitcoin was often used for this and has since grown into something else entirely.

Getting Bitcoins

As mentioned, Bitcoin can be used for online transactions. This includes booking a hotel room, buying items online, or even purchasing games for your Xbox. But what’s more exciting about Bitcoin is that not only it can be used as a payment, but you can also earn lots of money by trading it. Here are ways on how you can get Bitcoins:

Using an Exchange

There are a few ways to acquire bitcoins. The first option is to buy using an exchange, or bitcoin exchange where you can buy and sell the crypto-currency using various currencies. The top exchange of the moment is Coinbase, but there is also Bitfinex and Bitstamp. As with any other type of investment, purchasing comes with its own risks, which you will learn about later on in the book.

Transferring Bitcoin

Bitcoin can be sent from person to person using computers or mobile apps. This is a lot like sending money over the Internet. We will cover this in detail throughout the book to paint you a clearer picture of the concept.

Mining Bitcoin

You may have heard of something called Bitcoin mining, which involves solving complicated math problems using computers. Bitcoins are then created from this and winners are rewarded with Bitcoin. Is this something anyone can do or only a select few? We will cover this extensively in chapter three.

How Are Bitcoins Stored?

Bitcoins do not exist in physical reality, so how are they stored to be kept safely? Bitcoins are most often stored in something called a digital wallet, on the user’s computer or in the cloud. This is a type of digital bank account for sending or receiving the currency. You can also use it to save money or pay for certain goods. These are different from traditional bank accounts as they are not FDIC-insured. However, there are other wallet options.

Approaching the Subject Smartly

The future of Bitcoin is very uncertain, so anyone who wishes to get involved with investing in it should learn as much as possible before proceeding. This book is a great first step in the right