Bitcoin is the world’s best-known cryptocurrency, but there are now many more. Satoshi Nakamoto (real name unknown) created Bitcoin in 2009. Recently, the currency became a lot more popular, as some merchants started to recognize it as a legal form of tender. What makes cryptocurrencies like Bitcoins so special, however, is not just that they are a currency, but that they can be traded to make profits, something that companies like Prescott Regency make possible.
There are lots of reasons to purchase Bitcoin and other forms of cryptocurrency, including:
· That it is very easy to get into. This is very different from trading channels like stock and Forex markets, which require complex accounts, brokers, and more. With cryptocurrency, you only have to find a seller who wants to work with you.
· That it is global. It doesn’t matter whether you are in the heart of Washington DC or in a tiny remote village in Madagascar, you can trade with the entire world. Because it is a decentralized currency, it is not influenced by national economic factors.
· That it is volatile, which is the same as any other currency on the foreign exchange market. When there are economic shifts, its value changes very quickly. While some people don’t like this volatility, it is also what makes it possible to earn so many profits on it.
· That trading can happen 24/7. Stock markets are only open during business hours of their country. Cryptocurrencies are global, however, so you can trade whenever is convenient for you.
If you want to get involved in the cryptocurrency market, there are lots of ways in which you can do that. For many, lack of knowledge on how to get hold of this currency is a significant barrier, but once you figure it out, there should literally be no stopping you. Some of the options available to you include:
· Purchasing on exchange platforms. Simply go to the marketplace and look for people who want to sell you their cryptocurrency. Do make sure you look into the seller so that they are reputable, and place your order.
· Through transfers. Perhaps you have a friend who has Bitcoins or other cryptocurrencies and would be happy to send you some, using a computer or smartphone app.
· Through mining. This was first the only way to get hold of Bitcoins. Mining means that you have to solve very complicated mathematical puzzles, which computers have to do for you. If you manage to do it, then you will be given the coins. This is completely free to do, but it takes a lot of time and there are some rumors that all the coins have now been mind.
This really is all that you need to know about cryptocurrencies and to get started on trading with them. Once you own some of the currency, it is up to you to decide whether you want to keep it, or whether you want to sell it on to the next person for profit. Have fun and good luck!