9 Quick Facts about Bitcoins that You Should Know Before Investing In Them

Bitcoin is the biggest news today. As it has crossed the $14,000 mark, people who owned it already are getting envious glances wherever they go.  There is a lot to know about Bitcoin trading online, apart from the basic concept that it is a virtual currency.

  1. No one controls it. Yes, Bitcoin is not issued by any bank of any country. The people who use it are the ones who control it.
  2. The number of Bitcoins is limited. There are only 21,000,000 Bitcoins in the market.
  3. They have no set value. It increases or decreases as per its popularity.
  4. You can see the Bitcoin transactions as everything is permanent, except personal user information.
  5. Bitcoin miners exist, and their job is to verify the transactions happening worldwide mathematically on a computer.
  6. There are no refunds once you pay in Bitcoins and neither can anyone coerce you into paying.
  7. Transferring Bitcoins all over the world is absolutely free or at a negligible charge.
  8. You have to store your Bitcoins in a digital wallet.
  9. You can use Bitcoins for actual purchases both online and offline.

If you buy Bitcoins online you could be in for quite an online adventure. Consider the risks before taking any step and you’ll be fine.

2018-01-06T16:07:10+00:00