23 December 2017 – Trader Log is a blog that has written a comprehensive article in German about bitcoin and how you can make money trading and mining it.
If you are following the news, you probably have heard about the rise of bitcoin, the archetype and first popular cryptocurrency. But exactly what is bicoin? Bitcoin or BTC is a cryptocurrency and is just like the US dollar, or the euro as means of payment, so it is money. Today there are more than 21 million bitcoins worldwide, but not even every 400th individual can buy a Bitcoin, because there are no more. In the last 9 years, the Bitcoin price has multiplied by a thousand. Is it good to buy bitcoin now or should you look into other types of cryptocurrencies?
Trader Log, a German blog, has wrote an in-depth article regarding bitcoin and cryptocurrency. There are now an estimated 1500 different cryptocurrencies. The BTC price has risen by about 100,000% since its launch, so of course you could bet on a cryptocurrency that has not risen that much yet. However, the price is determined by supply and demand. BTC was first there, and there is a belief that people in the future are more likely to invest in BTC than in Ethereum, IOTA, Ripple, Dash, Litecoin, or any of the other 1,500 crypto currencies. As of December 18, 2017, Chicago Mercantile Exchange, one of the world's largest exchanges, will be able to trade in addition to crude oil, gold, sugar, as well as BTC. This means that the financial world is taking seriously the BTC. You can buy Bitcoin from Coinbase, one of the largest exchanges for BTC. All you have to do is transfer money from your checking account to your Coinbase account and then conveniently buy or sell BTC, Litecoin and Ethereum. But you can also invest in BTCs in the form of ETFs, CFDs, and soon futures. This requires a broker, such as Interactive Brokers. To pay with Bitcoin you will need a digital wallet. You can install one on your phone or on any computer. With the wallet you can in in stores and online shops that accept BTC. There were some pizzerias and even a subway store that BTC has accepted, but due to the sharp price fluctuations, BTC is rarely accepted.
To find out more about Bitcoin, how to use them and how to buy them, visit Trader Log web blog.
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Trader Log is a blog written by an experienced trader.
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