10 years ago, who would have been able to predict the state of things now? Sure, some savants may have seen global warming and global pandemics coming, but you’re going to struggle to find anyone that was capable of predicting Bitcoin.
Despite being launched in 2009, it seemingly came out of nowhere. It went from being a commodity worth a few bucks to one of the single most trading things in the world. Not only that, but it also punched through $60,000 in value. From an initial value below $5, that’s a seriously impressive figure.
That’s what a little over 10 years did to the coin, so imagine what 20 or 30 years is going to do. The potential changes Bitcoin is going to go through are going to be more severe than anyone could imagine, especially as it sees mainstream adaptation and governments begin using it to transfer value.
Already we’re seeing the start of this, with Visa announcing plans to facilitate cryptocurrency payments and TESLA investing billions into Bitcoin, believing it to be a better currency than the dollar. For the record, TESLA is right. TESLA is right, and the rest of the world knows it.
More and more money is flooding into Bitcoin every single minute of every single day. It’s a constantly evolving beast, a beating heart, pumping economic lifeblood around the globe. It’s also a ticking clock. Each hour represents a missed opportunity for you to invest. Once that clock hits midnight, good luck ever getting yourself into a position to buy Bitcoin again. People are still kicking themselves for not buying Bitcoin when it was cheap. It might seem like it, but Bitcoin is still cheap now compacted to what it’s going to be. You haven’t missed the boat, so don’t be another person regretting their investing decisions.
Sign up for an account on BitcoinX and invest while you still can.
Until now, Bitcoin has been guarded by elitists. It presents an opportunity for a lot of regular people to get involved in something that, traditionally, has been reserved for the power centers of the world.
In an attempt to dissuade that, these power centers have intentionally made it difficult for new traders to get involved in the Bitcoin marketplace. We’re going against the grain by doing the exact opposite. We want everybody in the world to experience what Bitcoin has to offer, and we’re using BitcoinX to do it.
With BitcoinX, you don’t have to go through some rigorous signup process that requires your ID verification, and you don’t get bombarded with an overload of technical data curated to make your head spin.
Instead, we’ve streamlined everything. All aspects of our systems, from signup to trade execution, is slick and simple. We’ve cut down the complication of Bitcoin trading, meaning we’ve opened the floodgates for people like you.
Bitcoin trading has never been easier, so head over to our join-up page and register for an account. If you’re quick enough, you can even start trading today.
Out of all the potential cryptocurrencies that we could have chosen to focus on, why Bitcoin? The answer to that question is deceptively simple. Bitcoin was the first, Bitcoin is the biggest, and Bitcoin is going to be the last.
Cryptocurrency is Bitcoin. The second-largest coin behind it is worth over $48,000 less than it. It’s a market leader in the more literal of senses. As Bitcoin moves, the rest of crypto follows. It’s never going to be dethroned, either, because it has the systems and technology to justify its position in the marketplace.
That’s one of the many reasons that BitcoinX has decided to focus on trading Bitcoin over the infinite number of options we ultimately had. However, Bitcoin is a complicated beast with a lot of moving parts, each of which ultimately played a part in our decision to focus on this coin.
The first aspect of Bitcoin that led to us focusing BitcoinX around it was the blockchain technology that was backing it up.
Each cryptocurrency has a blockchain that facilitates the transfer of said currency. It’s how money moves from one place to another, and it’s also the location that your coins are constantly stored in.
Compared to the blockchain utilized by smaller alternative coins, the Bitcoin blockchain is a technological marvel. It’s faster, safer, and smoother than 99% of the alternatives.
Another leading factor in our decision is the way in which new Bitcoin units get made. Rather than being printed-on-demand like a majority of the world’s currencies, Bitcoin creation is an entirely automated process that no one can control.
This means that Bitcoin is inflation-proof. This is arguably the single most important aspect of the coin and why so many people believe it to be the future of finance.
The dollar loses value year on year. If you have one dollar today, that might only be worth half of that in 10 years. That doesn’t happen with Bitcoin.
These days, people need to take specific, and at times drastic, measures to ensure their privacy from banks and the state. We live in an age when everything you view, buy, sell, move, or even think is stored in a database and used to either track your movements or to sell you products.
This includes your money and your bank account. Every single cent that you send is visible to both the bank you’re with and the government. A lot of people don’t like having everything they do be an open book, a problem that Bitcoin solves.
Due to the decentralized nature of the Bitcoin blockchain, everything that gets done on it is completely anonymous. There’s no big brother peering over your shoulder at every turn.
A big mistake that a lot of Bitcoin beginners tend to make time and time again is thinking that trading Bitcoin is like trading on the Forex. That couldn’t be further from the truth.
In fact, trading Bitcoin has a lot more in common with commodity trading than currency trading. If you’ve ever heard Bitcoin being called digital gold, this is why. Bitcoin doesn’t retain the same value down to the decimal as any of the world’s major currencies. The difference in value between Bitcoin today and tomorrow could be hundreds, if not thousands of dollars per unit.
If you can predict these swings in price correctly, you can make a decent profit day trading. However, that isn’t what you should be doing. Think about what happens if you sell your Bitcoin to make $100 and have to watch as it climbs, and climbs, and climbs up to the point where you could have sold to make $1000.
Bitcoin is destined for the moon. No matter what happens to it in the short term, it’s the future, and no one can deny that.
Trading Bitcoin with BitcoinX is simple and easy. However, there are some things you need to know before you jump into buying and selling. First and foremost, the BitcoinX team wants to give you some words of warning: “never trade more than you can afford to lose.”
No matter how promising Bitcoin is or how much we believe in it, it’s still risky to invest money. For every story of a Bitcoin billionaire, there are 10 different people that lost everything due to poorly timed trades.
In the initial boom of 2017, Bitcoin traders became manic. People were taking out mortgages and massive loans to invest, only to lose everything once that bubble inevitably popped. You don’t want to end up like these people, so learn from their mistakes and only invest what you can actually afford.
If you’re struggling to keep food on the table, then stay away from Bitcoin. We’ve all been there, and better financial times are around the corner. Once you have that extra cash, then you can start investing a few dollars into Bitcoin and other assets.
With that warning out of the way, let’s talk a little bit about how trading on BitcoinX actually works.
When you first go to signup, you’re going to be asked for an email address and phone number. That’s the only information that we require on your end to get your account activated, unlike brokers, which require all sorts of personal identification.
Once your account is online, you need to make your first deposit. Our deposit limit is $250, so you can put anything more than that on your account, although we recommend that new traders start out at that minimum figure.
When your deposit goes through to your account, you’re ready to trade.
Setting up a trade is simple. First, you need to define your trading position.
Your trading position is comprised of a few different variables, including how much you want to invest and how much you want Bitcoin to be worth before your trade executes.
Once you set that up, you’re done! It’s that easy.
Our systems take care of the rest. You can set your position and leave your laptop for weeks, and our algorithm is still going to run in the background, making those trades on your behalf.
When you’re working with a limited bankroll when you first start trading, then yes, you should only invest in Bitcoin.
Once you have more funds to play with and you’re a bit more experienced, you can try to diversify into different assets.
BitcoinX only facilitates the trading of Bitcoin for this reason. We want to give beginners a smooth and easy way to start investing, so offering a selection of different technical coins would go against that idea.
When you buy Bitcoin, it never actually leaves the Bitcoin blockchain. How you store Bitcoin is actually the question of how you store your key.
Your Bitcoin key is a string of letters and numbers that identify what Bitcoin on the blockchain belongs to you, allowing you to access it.
BitcoinX can keep your key safe and secure on our encrypted systems. Not even we have access to it. However, if you want to go the extra mile, you can invest in a Ledger Bitcoin wallet to store a separate key for your Bitcoin offline.