What is Bitcoin And the Reason Why You Should Invest in it


If you are new to the Bitcoin world, please read very carefully to the end, for better understanding.
It is evident that now adays crypto currencies, otherwise called digital currency which Bitcoin is among them, are overweighing our official fiat currency.
WHAT IS BITCOIN?
Bitcoin is a digital currency in which encryption techniques are used to regulate the transfer of funds independently of a bank.
To be more precise, just like our official fiat or other digital currency, Bitcoin is a form of digital currency created and held electronically without any person or institution controlling it.
This means that you may own as much Bitcoin as you want to without anyone else knowing the amount in your wallet. No one controls your transactions, not even the bank nor government.
Unlike every other currencies, Bitcoin as one of the digital currencies is very useful and now widely accepted by many merchants worldwide.
It is easy to exchange and cheap to use.
It's regulation is not restricted by the government of any country.
"Digital currency may be the most effective way the world has ever seen to increase economic freedom. If this happens, the implications are profound. 
It could lift many countries out of poverty, improve the lives of billions of people, and accelerate the pace of innovation in the world.
This is why I co-founded a digital currency company. I believe it is the highest leverage activity I can be doing right now to improve the world." - Brian Armstrong, Co-Founder and CEO at @Coinbase
IMPORTANCE OF USING BITCOIN
1. It is fast and easy to transact
2. Central government cannot take it away
3. No unnecessary verifications is required
4. It does not occupy space
5. No personal information is required
6. It cannot be stolen
7. Your identity can't be tracked
8. The amount in your wallet can't be tracked, frozen nor suspended
9. Encryption techniques are used to regulate the transfer processes
10. It's widely accepted by merchants
POPULAR BITCOIN WALLETS
There are so many Bitcoin wallets just like there are many bank in the world today.
But the most popular and commonly used ones are Blockchain and Coinbase.
HOW TO CREATE A BITCOIN ACCOUNT
Creating a Bitcoin account is even simpler than opening a bank account.
And the good thing about it is that it is free to set up. No big deals involved.
To create a Bitcoin account using blockchain click here or go to the Coinbase official website.
Alternatively, you can search for the Android app from the Google Playstore is you are using a smartphone.
WHAT YOU SHOULD NOT CONFUSE BITCOIN WITH
Saving or investing in Bitcoin is not HYIP, that is High Yield Investment Programs. Rather, just like our official paper money, it means saving your money in the bank which you can withdraw whenever you wish or want it.
It is not a ponzi scheme, rather, it is a type of money, just like the US Dollar.
BENEFITS OF SAVING BITCOIN
From the little I know about Bitcoin, I think it is more beneficial to save it than our paper money.
Take a look back to 2008, when Bitcoin was still new, by then 1 Bitcoin was equal to 1 Dollars, but now 1 Bitcoin worth over 700 US Dollars. In Nigeria, it is worth a hundred of thousands.
And we are still anticipating it's rise, due to high demands.
CAUTION
Do not get confused, Bitcoin has no other names but Bitcoin, so don't allow people to deceive you.
Never invest your Bitcoin in any HYIP on the internet.
Do not trade your hard earned coins in any ponzi scheme. Don't allow greed make you lose your money. No matter what they may preach, they are faceless and would one day disappear.
Always buy and sell your coins with trusted and verified merchants only as there are many scammers online claiming they sell Bitcoin.
Do not disclose your transaction password and security questions with anyone

What is Bitcoin And the Reason Why You Should Invest in it What is Bitcoin And the Reason Why You Should Invest in it Reviewed by Godwin Akpan on October 25, 2017 Rating: 5

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