Is this your first time using Bitcoin? It's time to reclaim your knowledge and shed your skepticism.

CONCLUSION

  • There are no profits to be made from Bitcoin; it is only another kind of money.
  • The first step before making an investment is to educate yourself.
  • Regardless of one's financial status, Bitcoin is open to everyone.

Are you brand new to the world of Bitcoin? According to Chilean cryptocurrency advocate Karol Lucero Venegas, individuals who are suspicious of Bitcoin should do their research. And it has to happen quickly.

"Bitcoin" is probably one of the most frequently googled terms in the digital financial sector.

Satoshi Nakamoto, a pseudonym chosen by the cryptocurrency's developer (or founders) to ensure the asset's secrecy and decentralization, first introduced it to the public in 2008.

Every time I post on social media, people question me: "Is it real?" Is it possible to make money? Is anyone allowed to invest in this? A rip-off? It is terrible that I am unable to answer to everyone of my followers in the way that I would want. However, in this place, I am able to reach a large number of individuals who are searching for knowledge to help them understand some aspects of the subject.

Getting started with Bitcoin: Exposing ignorance

A firm that pays dividends is not Bitcoin. Just like the euro, the dollar, or any other kind of fiat money, it is just another currency that exists in the world today. Digital, deflationary, and independent of a central bank are the main characteristics of this currency.

The expression "I don't have more than 40 thousand dollars to buy a bitcoin" is rather prevalent in the bitcoin community. The first time around, you don't need to spend a lot of money. We may fractionally split a bitcoin up to 0.00000001 of each unit, as it is divided into 100 million pieces. Satoshi is the name given to the smallest Bitcoin unit, and you may buy as little as $10 worth of it.

Because so many people feel bitcoin is a hoax, what is the reason? The solution is far more straightforward. Discredit is a safe haven for those who hide their ignorance and lack of expertise. The simple act of not paying attention to anything allows for the development of erroneous preconceptions by others. However, these preconceptions are exploited by the unscrupulous, who try to fool consumers by taking advantage of their ignorance. Unfortunately, this is a part of being human.

Cryptocurrency frauds may be defeated by educating the public.

Many individuals have sought to earn a profit that does not match the giving since bartering began. However, the vast majority of frauds are still conducted in dollars. This does not imply, however, that US currency is a sham. Criminals are those who take use of these resources to enrich themselves through schemes, not the resources themselves.

Because of this, my first advise is to educate yourself before making a purchase. Educate yourself and seek for credible background information. To be successful, you must have a solid foundation in what you want to do. You must be aware of the market's volatility and hazards before you enter it.

I've mentored and advised individuals and groups interested in learning about cryptocurrencies, but this was only after extensive research into the field. I attended the University of Michigan for my education. "Blockchain in Business" was a diploma I received from the University of Chile's faculty of economics. Investing in one's own well-being comes before buying any kind of asset, in my opinion. It is said that "knowledge is power."

Getting started with Bitcoin if you're a new user.

Saifedean Ammous' book "The Bitcoin Standard" comes highly recommended.

bitcoin

This is one of the best books on the subject for someone who is just starting out. You'll have a better understanding of how money has changed throughout time and what to expect in the next decades. Cryptocurrency like Bitcoin offers a different economic model. Decentralized, it protects you against inflation, doesn't care about gender, country, social standing or race and ethnicity. A last point: bitcoin makes no distinctions. Everyone may participate in the Bitcoin revolution.

** Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of USA GAG nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

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