What is a Bitcoin?

Published on 24 October 2022 at 18:40

What is a Bitcoin?

Bitcoin is the first cryptocurrency, this coin was created by Satoshi Nakamoto. A Bitcoin is intended for payment transactions without a bank in between. This is called peer to peer. Bitcoin's transactions are fast. Even for large amounts.

All transactions go over the blockchain. That is a network around the world that is kept running by miners. The cost of Bitcoin is low because there is no bank in between. Safety is also important, we will come back to that in a moment. In addition to the fact that bitcoin is intended to pay.

A lot of money is also earned through trading and investing. There are also other possibilities to get bitcoin to that does not yield much.

 

Are Bitcoin Payments Secure?

Bitcoin is safe. The transactions are over the blockchain. The miners have the safety in their hands. These miners are located all over the world on millions of computers. Every computer has the same copy. If there is an error in the payment or if it has been tampered with, the transaction will not go through. This way nothing can ever go wrong during the payments. It is also anonymous.

That means no one can see where bitcoin is being sent and where or who it came from.

There is one thing that you must protect yourself and that is your wallet. Your crypto wallet contains all the cryptocurrencies you have. ele crypto exchange has 1.

It says how much bitcoin you have and all the altcoins you have in it. You trade this security yourself.

If you store your crypto externally,it is safe. Here you can read more about crime and security of bitcoin.

 

How can I make money with Bitcoin?

There are several ways to earn Bitcoin. Can you earn bitcoin without money? Yes, that's possible.

This is possible by means of crypto mining. But there are much better ways to make more money. What that is you will find here under the best 2 options.

 

Earn money with bitcoin trading.

Trading is buying and selling Bitcoins in a short amount of time. This is how you hold Bitcoin to sell in a few hours. If you choose the right What are trading pairs?. You can always increase your purchased bitcoin so that you get more bitcoin.

That way you earn twice as much money. So you get extra bitcoin from the profit of your trade and the investment of Bitcoin that you have. Want to learn more about how to start trading? Follow the free trading course here.

 

Make money investing in Bitcoin.

Trading takes time and also a lot of money to learn. Once you can trade you can earn a lot of money with it. But if you don't want to spend a lot of time with the Bitcoin price, investing is the number 1 way to make money with Bitcoin without much time and effort. You can invest through a crypto exchange. You can invest in different ways.

You can make a 1 time investment or sometimes invest extra money. You can also invest through DCA. With DCA, for example, you will invest a certain amount each month. This can be done automatically at most exchanges. This way you ensure that you pay the average price for bitcoin. To make money investing you only need patience for a few years.

 

History of the Bitcoin price.

Bitcoin has a long history. Bitcoin is 13 years old. Bitcoin had to be mined and it still is today. January 3, the first bitcoin was mined to make the first bitcoin transactions. Bitcoin wasn't expensive then, it was free then. On some websites you could get free bitcoin. Nobody knew that Bitcoin had now become a mega success.

9 months later it was October 5, 2009. Bitcoin then got its own price. you could buy it for $0.00076. So that wasn't much. that meant you could buy 13090 Bitcoins for $10 at the time. At that time it was not yet possible to trade or invest and you could not do much with it.

A week later it was October 12 and then bitcoin was 0.001 cents. Then you could buy, sell, invest, trade and mine Bitcoins. This means that you approve bitcoin transactions with your computer and receive bitcoin as a reward.

So October 12 was the weekend. About a year later, a flaw was found in Bitcoin's script that caused a much lower price. But over time, everything got better again.

 

Bitcoin's Major Recent Bull Runs.

That is the case until now. In the year 2018 came a big bull run where a lot of money was made and bitcoin became popular. Then came a bear market where the price was falling for a long time and then there was another bull run.

This bull run went up to $52,000 which was on March 12, 2021. Then the price dropped 40%. That is not a problem because bitcoin can also rise quickly and a short time after the new bull run started. This bull run started 4 months after the always high. This bull run then also formed the highest always high to date. That's a price of $56,000. Then came a bear market that is declining to this day. When will the new Bullrun of crypto currencies come?

 

Why is Bitcoin the largest cryptocurrency?

Bitcoin is the largest cryptocurrency for 3 reasons. The trust, the first crypto currency and the security of payments.

Bitcoin is the first crypto currency. The rest are altcoins and are very dependent on Bitcoin. That means Bitcoin is the largest. Every trader owns Bitcoin and has the majority of Bitcoin in their portfolio. That is not surprising because Bitocin is the most to be trusted. It can be seen that if Bitcoin falls, altcoins fall with it. That shows that it has a strong connection.

Crypto coins are meant to pay and earn money. Bitcoin is cheap and is a secure way to transfer transactions without a bank. That saves money and time. Altcoins can often do that too, but that is usually more expensive than Bitcoin.

 

Inflation.

The whole world is dealing with inflation. Money is being printed everywhere, which leads to even more inflation. This causes the value of money to fall because everything becomes more expensive. This also makes Bitcoins more expensive. Bitcoin has no inflation. Bitcoins can never be added again. there will be a total of 21 million bitcoins. And no more and no less. Thanks to the bitcoin halvings, this causes an increase in the price.

 

The future of Bitcoin.

The bitcoin halving.

But what is a Bitcoin halving? A bitcoin increases in value because people start buying bitcoins. There will be no extra bitcoins because bitcoin is being bought. This causes the price of Bitcoin to rise in the long run.

Bitcoin's transactions are controlled by computers through Bitcoin mining. Bitcoin miners receive a piece of bitcoin as a reward. There is Bitcoin in every block. When the miners start mining, blocks are released, which gives bitcoins to the market. In a halving, the reward for miners is reduced from what they get as a reward. Every 4 years there is a new halving which over time ensures that the Bitcoin price will rise and that bitcoins become rarer.

Could a Bitcoin Halving Cause a Bull Run? Yes, that's possible. With each halving, it is noticeable that a bull run comes quickly after that. There have been 5 halvings in total, 4 of which resulted in a new bull run. That is why halvings are valuable for traders and investors.

 

Are Bitcoins becoming rare?

Due to the halvings and demand, bitcoin will rise. It therefore has no inflation and many bitcoins are lost. This means that bitcoins are becoming increasingly rare and it is therefore wise to have bitcoin in your portfolio.

Because a lot of bitcoins are lost because it is accidentally sent to a wallet where there is a spelling error, it can never be returned. More than 3.5 million bitcoins have already disappeared while less than 20 million are in circulation. That means more than 20% is gone. This will only increase in the future.

 

The bitcoin price in the future.

Thus, Bitcoin's rarity will continue to grow in the future. That is why it is wise to buy a part. If you are interested, you can enter a crypto giveaway worth $1500 at the bottom of the page. This image below tells enough about the rise of this crypto coin in the future.

bitcoin price target future

Alternatives to Bitcoin

In addition to Bitcoin, there are many different cryptocurrencies. All crypto currencies except Bitcoin are called altcoins. altcoins stands for alternative coins. Bitcoin will always remain the largest cryptocurrency. There are crypto coins such as Bitcoin Cash, Ethereum and many more.

 

Etheureum is the largest altcoin and it is in 2nd place. Each crypto coin has a different owner and purpose. There are also coins similar to Bitcoin. Like the Bitcoin Cash. This coin does not belong to Bitcoin and has its own owner.

 

ethereum giveaway

Who invented Bitcoin?

A Bitcoin had to be invented before it was there. This crypto currency was created by Satoshi Namamoto. This man is a programmer who invented and created bitcoin. Satoshi Nakamoto Because there were no other crypto currencies yet, he was the first to also develop the blockchain database.

He came up with it to look for a new way to pay. It was then electronic money. Nakamoto is an unknown man and can't find much about it on the internet.

 

Where can I buy Bitcoins?

Bitcoin can be bought at crypto exchanges. Every exchange has Bitcoin. Even stock brokers offer Bitcoin. But if you look at crypto exchanges, every exchange has Bitcoin as an option to buy and trade. It is cheaper to buy Bitcoin on a crypto exchange and not on a stock broker. If you click here you can find the cheapest crypto exchanges to buy Bitcoins. You can also participate in the crypto giveaway. The best exchange we recommend to buy this crypto coin is Bybit. We have researched and assessed several important points. Find the best crypto exchange below.

 

The cheapest place to buy Bitcoin.

The best place to buy Bitcoin is Bybit. Bybit is cheap and easy to use. We researched it with traders opinions, investor opinions and the star ratings of the exchanges. Below you can see a number of important points on which we are judged. If you create an account through here, you don't have to pay any trading fees. You can also participate in a Bitcoin giveaway.

 

Click on the Bybit logo to create an account and enter the Bitcoin giveaway worth $1500!

Handy usable tools

Bybit has useful tools to buy Bitcoin at the cheapest price. Or different buying methods to purchase this crypto currency. You have many different order tools with which you can determine the price and quantity. It's easy to use. For traders but also for investors.

Bybit has zero fees.

Bybit has no fees on opening trades in spot trading. Because you don't pay any fees, you get free bitcoin because you have no costs. To trade and invest for free, you must have created an account through our site. In addition to not having to incur any trading costs, you can also participate in the intertradeclub winacite at the bottom of this page.

Bybit has nice giveaways.

Intertradeclub also holds a giveaway every month for people who have joined through us. But Bybit also holds fun promotions and giveaways. For example, they have a trading tournament with a prize pool of, for example, a million dollars. Or that you get gifts for the number of trades you place. They often do this kind of thing too. Thanks to this way, investing in bitcoin can be more fun.

The speed of the markets are fast.

For traders, the speed of how the price moves and that the orders are filled quickly is important. Because you are on the low timeframe, there may be a difference in the prices of the same crypto currency compared to the coins on other exchanges. For example, a Bitcoin can be cheaper on Bybit than on Binance. It's not about a lot of seconds, but Bybit doesn't suffer from this. One downside of Binance is that they do have it.

The orders you place are therefore not delayed and you will never pay too much for your orders and entries. Speed ​​can save money when trading. This is not important for investors.


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