Bitcoin trading for beginners, what is the Bitcoin currency that has become the talk of many investors in the field of currency trading?
A question that has become necessary to know the answer for those who want to enter the field of commerce on the Internet, and to know what is Bitcoin, here are the following definitions:
Another definition of Bitcoin
A currency that can be spent to buy through technical algorithms and mathematical calculations called the blockchain, and the reason for its emergence was Okobi accusation on Wall Street of large banks of deceiving customers to exploit borrowers’ money and rigging the system as it accused them of imposing unjustified fees.
Explanation of Bitcoin for beginners and its importance in the field of trading
Bitcoin is the currency that makes the seller take responsibility, eliminates the presence of intermediaries, and works to cancel interest fees, so transactions are more transparent as you can control your money, and they are protected by two keys, the first public key known to everyone, and another key for the user only,
Every currency needs a minting or mining operation, but Bitcoin trading is a digital currency, so how is mining it?
How to mine bitcoin
These devices are designed specifically for Bitcoin mining and to verify the authenticity of currencies, which is what the regular computers that we use in our working lives cannot do.
And here comes a new question – how do I mine Bitcoin? Ie how can I get it?
If the devices that perform this process are very sophisticated and gigantic devices, they must be so expensive that the average investor cannot buy them, so another choice remains for him, which is mining on the Internet by using the so-called cloud mining service.
How do you get Bitcoin?
First – how to obtain Bitcoin:
- Searching for one of the reliable digital currency trading platforms spread all over the world, including the GEX platform, Local Bitcoins, or the ones spread in the Arab Gulf, including Bit Fils or Bit Oasis.
- Another source for buying Bitcoin trading is these currencies’ ATMs including BTER and Coin Corner.
- Someone legally sells cash, and in order to find out which sellers are in your area, you can use Local Bitcoins.
- Depositing money in the currency of your choice, whether it is the dollar, the pound sterling, or others, in which case bitcoin can be bought at the current exchange rate.
Second – How to protect Bitcoins:
- In order to store it, you can use a digital wallet and secure it within your account.
- You also have to understand well the methods of protection on the Internet.
- Another way to secure currencies is to try an online wallet such as the one on the blockchain.
- If the matter is confusing and difficult for you to understand, you can use your paper wallet to buying and selling bitcoin from an offline address with any exchange program, and then your digital coins will be spent using your private key. Bitcoin trading for beginners
- The passwords used must be taken into account that they are varied between lower and upper case letters, numbers and signs,
- Do not use passwords you used on another site.
- Another type of protection is the use of two-factor authentication, which is a feature that makes it necessary to enter a specific symbol after entering a word
- Traffic and this code comes to you on your mobile phone and you cannot log in without it, so you have a high-security method that does not take more
- From 20-30 seconds to securely sign in.
Characteristics of dealing in Bitcoin:
- They look like random strings of about 30 characters.
- Transactions enjoy complete security through a private key encrypted system, and only the owner of the private key can send digital currencies (Bitcoin), as it is an unbreakable system due to the strong encryption and complex large numbers.
- Transactions do not require permission from anyone or any party, as they are software that anyone can download for free and receive
- The first to send digital currencies through it without any interference from anyone and no one can prevent you from doing any of these transactions.