Have you thought about investing in bitcoins? How does the system work? Is it reliable? Let’s discuss these and other questions clearly.
What is the price of a bitcoin? The value of bitcoins is estimated through internet portals specialized in trading this virtual currency. For example, here you are able to buy bitcoin instantly and read price predictions from experts in the field. Since in the case of bitcoin its number is limited in time, experts argue that its price will also tend to increase if the number of users continues to grow (hence its controversial pyramidal nature).
Bitcoin advocates say that it is not pyramid since no one is promised profitability and there is no single issue that benefits. Like with any investment, there is no total proof that the value of bitcoin will not vary. Bitcoin challenges the system Bitcoins are valued as long as they are useful as currency and people are willing to accept it as a means of payment.
If the number of people in the club grows, its price will increase. Otherwise, its price will plummet, as in any financial derivative. A significant amount of money is not necessary to change the price of bitcoin. It is valued at about 300,000 million. When it reaches 10 billion, its world weight will be relevant to the economy of the entire planet.
You can buy bitcoins in exchanges or create bitcoins using machines designed for it. But in practice, the number of transactions is tiny compared to that of other means of payment. Bitcoin would be the result of paying for the theoretical consumption of the energy required in the process of its creation.
Without having a merchant account, you can have bitcoins. Payments are generally made through mobile or computer applications, entering the recipient’s address (the bitcoin account), the amount to be paid and pressing send. Once the button is pressed, there is no turning back; the virtual currency will have changed hands. How and where to buy bitcoins? Bitcoin is bought at exchange agencies on the internet. Here you can find an example list of those intermediaries.
The process requires: 1. Open an account with one of the providers mentioned above. 2. Deposit money in the newly opened account (for example, by bank transfer, credit card or PayPal). 3. Buy the chosen currency (for example, Bitcoins, Ethereum, Ripple, Litecoin or Dash). 4. Sell coins when desired. 5. Pay the balance to a private account. 7. Is it safe to invest in bitcoins? Bitcoin advocates argue that no organization or individual can control bitcoin and the network remains secure even if all its users cannot be trusted. In any case, security firms warn of the possibility of theft of the code to any user or computer attacks against exchange houses
Since the operations performed cannot be cancelled, and it is anonymous, any data theft has no solution. What does it mean – a “virtual currency”? Bitcoin is virtual, while the credit cards and banking networks are tools that people use every day. As virtual as the money that the ECB gives to banks and banks to the ECB. The money has long since ceased to be exclusively in cash to be only virtual payment commitments. Bitcoin can be used to pay ‘online’ and in physical stores like any other currency if those involved in that transaction agree. Bitcoin balances are stored in a vast network, and theoretically, they cannot be fraudulently altered by anyone. By these means, crypto users have exclusive control over their funds and bitcoins cannot fade just because they are virtual.
But the implementation of bitcoin is small. And the implantation of other cryptocurrencies is still lower. How does it pay to have earnings in bitcoins? Bitcoin is not a fiat currency of legal tender in any territory, so the regulations are not very specific. In practice, any surplus value should be quoted to the Treasury as a capital increase. It is not clear in that case. It is also not clear if that asset is considered an asset abroad or in Spain Is it advisable to invest in bitcoins?
Like any risky investment, it is not possible to advise anyone to invest in bitcoins. Not even cryptocurrency advocates recommend investing savings in virtual currencies. Its highly volatile nature means that bitcoin is closer to gambling today than to a serious investment. But the accumulated returns in the last year making it the most revaluating asset in history. With 10 euros you can play but not with 10,000. Even for a purely ethical issue.