Bitcoin is a virtual currency that has been making waves in the past few years. The reason that it has been making waves is because of the fact that it has become so valuable. People that spend a few hundred dollars on bitcoin a decade ago are now worth millions upon millions of dollars. This Monday, Bitcoin hit its highest value yet. This value was in excess of three thousand dollars. As a result of this, people have started to take more and more interest in bitcoin and all that it has to offer.
However, one of the problems with bitcoin is that it is shrouded in secrecy. The currency is often referred to as shady and untrustworthy. Hence, someone that has never really used bitcoin before might have a tough time figuring out how to buy and sell this cryptocurrency.
The process is actually quite simple. If you want to be able to use bitcoin, all you have to do is download an app that would serve as a virtual wallet. An app such as Coinbase would work perfectly fine in such situations. People tend to think that the process of buying a virtual currency would be convoluted and impossible to figure out, but when you download this app and check out the interface you would be surprised at just how easy it is.
When you open up the app, it will look like pretty much any other app you might have used. You would be asked to create an account with a password. Following this you would be asked to enter the details of the bank account or credit card that you would use to finance your bitcoin purchases. After you have entered all of the details including your current address and the like, you would be good to go!
You would be able to tap on an icon that would take you to a menu. Through this menu you can buy as many bitcoins as you want! The only thing you need to be wary of is the price. If you tap in an amount of bitcoin that you want to buy and the price changes, your transaction is going to fail. You are going to have to do a little bit more if you want to be able to buy as many bitcoins as possible.
If you want to start earning money from bitcoin, you need to start monitoring the market and checking out the rates that bitcoin is going at. There are periods of time when bitcoin is falling in value. This is the ideal time for you to invest. Once you have invested, you would be able to sit on the coins until the value rises again. Selling bitcoins at top value can earn you amazing profit, so much that you might be able to quit your day job and just focus on selling bitcoin!