When it comes to the world of investing, there is no doubt that it’s often a world that gets a lot of flak. Too often, investors are compared to degenerate gamblers, but still, the temptation of a quick buck is alluring to just about any man with a risktaker’s streak to him. Sure, the traditional stock market is always there, and of course, you could throw down a few dollars on a game of college hoops, but that might as well be a coin flip. Instead of those old options, consider betting on the future. In other words, consider betting on Bitcoin, otherwise known as BTC.
Ok, but how does Bitcoin work?
One of the critical aspects regarding Bitcoin is that the concept isn’t well understood by most novice investors. It’s rather simple. Bitcoin and other cryptocurrencies are composed of blocks of randomly anonymizing code called the blockchain. Blockchain is important because it provides tremendous value to the concept of Bitcoin and other cryptos.
The fact that they rapidly anonymize means that people, whether they be unsavory or savory characters, can send transactions anonymously. The anonymity of blockchain not only gives it investable value, but it means that you can invest in a real technology, not a made-up bubble as some alarmists proclaim. Think of Bitcoin as proteins and the block chains are the amino acids that compose them.
How do I buy BTC?
Buying is simple. Most popular wallets are available, whether it’s Coinbase, Kraken, or GDAX. Simply sign up, assign a debit card or bank account, and you can run as wild or as conservative as you want with your BTC purchases. From there, you can even exchange BTC for other currencies, thereby using BTC as a currency of exchange. All in all, there is a tremendous amount of fear, uncertainty, and doubt being spread to scare new investors, but do not be afraid BTC padawan. Take the plunge, buy some Bitcoin, and you’ll be a crypto Jedi in no time at all. May the profit be with you!