The cryptocurrency market is an incredibly unpredictable world, where bitcoin prices swing wildly in an instant.
Bitcoin craze has fallen slowly in the last few months after prices have plummeted to more than half of the 2017 peak of $ 19,000.
Investor confidence has declined, but there are still many opportunities for new traders to buy and sell bitcoins in an attempt to make a profit.
The United Kingdom is not particularly active in the cryptocurrency market, with Britain usually placed at the bottom of the top 10 most active markets, according to CryptoCompare.
Like all other markets, there is the potential for investors to lose a lot of money with bitcoins and cryptocurrencies, so it is always advisable to remain cautious.
In fact, many experts warn new operators to avoid bitcoin, which is known for its volatile behavior.
If you are still interested in buying and selling bitcoins, Express.co.uk explains how to invest in bitcoins.
What is bitcoin?
Bitcoin is the global phenomenon that has exploded on the financial scene and has caught everyone by surprise.
Bitcoin's core technology is incredibly complex, but in simple terms, bitcoin is a completely separate and decentralized digital currency from any bank or government, making it a completely free currency.
Bitcoins can be bought or sold like any other commodity, in addition to a real currency for the purchase of goods, such as pizza, clothes or even taxis.
The technology behind bitcoin is called Blockchain. Bitcoins are generated through a gigantic global supercomputer network that complements extremely complex mathematical equations that produce bitcoins on a digital ledger called blockchain.
Blockchain can not be changed or tampered with, giving users complete trust and security. The ledger is public and open to all, with each block in the chain that reveals new bitcoins to track and monitor.
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Bitcoin is the most cryptocurrency ancient and most famous, created in 2009 for online purchases.
Money began life as a disastrous means of paying illicit goods on Dark Webb – an anonymous internet platform that allowed users to buy and sell goods ranging from drugs to weapons.
Since then, bitcoin has grown in legitimacy to be accepted as a real alternative to real currencies.
In its meteoric rise, bitcoin rose from a value of about $ 10 to nearly $ 20,000, as modern investors have resumed the trend.
The currency has moved forward to gain acceptance and promotion from the giant Wall Street company Goldman Sachs, as well as many hedge fund managers as a viable investment opportunity.
The currency has a controversial story, with many analysts denouncing the currency as a mature bubble to burst.
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How to Buy Bitcoins
First, you need to get a bitcoin wallet to store your digital tokens.
The most popular among the British public are Coinbase, Blockchain.info, Exodus, MyCelium and Xapo.
If you go to their website and enter your details, such as your name, email address and password, as well as the details of your bank or credit card, you can start in the cryptocurrency market.
We recommend that you protect your account with a two-factor authentication service to prevent people from accessing your wallet and stealing your investment.
The cryptocurrency market is an incredibly unpredictable world
all three of these portfolios will allow you to see the constantly changing bitcoin value in real time.
You will notice that the bitcoin has an extremely disrupted and unpredictable value, particularly in the last few months, so take a bit of time to examine the charts and understand how the value has changed.
Bitcoin prices at the time of writing are reasonably good, although a full bitcoin token is quite expensive.
In 2018, bitcoin averaged about $ 7,000 per currency – in 2017 the cryptocurrency peaked at $ 19,000.
However, it is not necessary to buy a whole coin to get involved in bitcoin trading. You can buy small fractions of a coin for much smaller prices.
Bitcoin is the global phenomenon that has exploded on the financial scene
Your bitcoin wallet will help you calculate how much of your real money will translate into bitcoins.
Decide how much you are willing to invest and complete the transaction in your portfolio. Remember that once the transaction is completed, all the funds you have have paid will not be reimbursed.
From this point, trading is up to you. Now you can buy and sell your bitcoins at your convenience whenever the price moves.
Some portfolios allow you to set notification reminders when the price moves above or below a certain point, helping you to react faster to the rapidly changing market.
Bitcoin is extremely fast and incredibly volatile, so keep in mind that your money can be lost very quickly and you will not be able to recover it.
Invest only money that you are happy and willing to lose.
If at any time you want to withdraw your investment, you can change the value of the bitcoin in cash directly to your bank account.