Hey, I'm Shawn!
New York, New York
Bitcoin is an entirely new concept of digital currency that's making waves in the mainstream. It is a different way of exchanging money than what is usually practiced with commercial banks. It is the world's first crypto-currency, existing in the virtual world and supported by computing horsepower.
It all sounds complicated and intriguing, but the truth is, the Bitcoins system is easy to use and offers plenty of benefits to ordinary people. You can earn it, and you can invest in bitcoins, too. If you choose the latter, you'd probably want to learn more about incremental bitcoin purchase first; thus, you wouldn't have to spend a big amount of money for it initially.
Some say the market for bitcoins is volatile, and that may be right. However, the price of bitcoins has fluctuated over the years, and some are saying a reasonable amount of bitcoins purchased over 5 years ago could be worth millions of dollars now! With its volatility in mind, it is advisable to buy partial bitcoin first, if only to "protect" yourself.
Of course, if you're keen on finding out more about bitcoins, doing a thorough online research is your best bet. You'll see that there are plenty of other ways to acquire bitcoins, one of which is by earning them. There are actually a few infallible reasons why you should be interested in earning bitcoins. Here are some of those:
- Fast Transactions
Transactions are completed within 10 minutes at the most, if they are zero-confirmation or a merchant is willing to accept a transaction not yet confirmed by the block chain. Unlike bank or international wire transfers that take days to release money due to the need to confirm if funds are indeed available, with Bitcoins, transactions are way faster and instantaneous.
- No Regulating Agency
Earning bitcoins is not regulated by the Central Bank or any federal clearing agency. It is not governed by any central authority. The virtual currency is decentralized so no bank can take it from you. This is a big benefit for savers who lost their trust in commercial banking system.
- The system is both private and transparent.
It is transparent in the sense that everyone knows where the transactions are coming from and how much bitcoins are involved. On the other hand, the particular Bitcoin address is private thus the owner remains anonymous. The only way an owner faces identity risk is to use bitcoins unwisely.
- You manage your own account.
No other entity has the power to have access to your funds. Unlike other electronic cash systems that can allow the issuing company to decide what's best for your account, like freezing or withholding your assets until you've complied with clearing requirements, the Bitcoins system is entirely under your own management. You own the private and public keys to open up your Bitcoin address.
What's even more amazing about the digital currency is that you can produce your own money. You can get bitcoins on the open market, and also mine your own if you are a savvy Internet user. What's a little investment for equipment and electricity in exchange for earning bitcoins by simply logging on and leaving the software running? Who wouldn't like to earn money while feeling comfortable at home? With bitcoins, this is possible.