Bitcoin is the first cryptocurrency or a digital currency in the world.
Bitcoin is an internet money based on P2P technology whereby no Bank or central have any access to it. it is a decentralized system.
Bitcoin was created by an anonynmos individual or group called Satoshi Nakamoto. Bitcoin source code is open to all and it cannot be hacked by anybody or organization nor even a government in any of the countries.
The idea behind Bitcoin Development
Bitcoin was created to ease the means of transaction of money and also to bridge the gap between the poor and rich which is the most vital thing about it. Bitcoin was not just created for this alone but also you can use bitcoin as a means of payment in any institution provided if they accept it. Bitcoin grows in value daily the same way it declines in value daily.
Bitcoin today, has made so many people rich and beyond their expectations in life. Bitcoin is acceptable in some part of the world. Bitcoin is making mobile payment easy, very low transaction fees and also protect your identity.
Bitcoin as a digital currency, is designed to have only 21 million coins in the world as it Total supply during production and can be ever created or existed.
Bitcoin transaction network fee takes at least 10 minutes during its transaction on any crypto exchange. Bitcoin is the future of money.
Bitcoin Transaction Analysis
Marketcap Rank - 1
Market Capitalization - $915, 218,440,481
Fully Diluted Valuation - $1,016,918,148,559
Trading Volume - $21,330,713,113
Available Supply - 18.9 Million
Total Supply - 21.0 Million .
The following increases as people continue to trade with Bitcoin.
1. Market Cap.
2. Trading Volume
3. Fully Diluted Valuation.
The above three increases or decreases when people trading on any exchanges in crypto currency.
Where can I buy Bitcoin?
The following are exchanges where one can trade Bitcoin
1. Binance
2. Coinbase
3. white it
4. FTX
5. Houbi
6. HitBTC and many more.
What do I need in order to buy and hold BTC?
The following steps will guide you on how to go about it.
Step 1
1. Download the following trading Apps.
- Binance
- Trustwallet or Metamask
- Google authenticator
- Get a valid ID card, either National ID, Voters ID or any other ID the is recognized by the Government.
Step 2.
- Register or open an account with any of the above applications. Make sure you have a good and valid IDs for verification processes it will take.
Step 3.
-Login to Binance and create your account which might take some days to be verified depending on your submitted info.
Step4.
- Create an account on Trustwallet or Metamask
- During this process, you will be given a key phrase which will serve as a password to your wallet.
Please note this.
You are expected to keep that key phrase safe where only you can have access to it in order to avoid loss of fund in your wallet.
Best place to keep that should be in your email for future reference in case you lose your smart phone.
Step5.
In order to enjoy crypto currency. You must understand that there risks involved in trading crypto currency.
Step 6
Make sure you are using a good and fast smart phone. above 2gig RAM.
Goodluck as you trade make sure you leave a comment if there any challenges.
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