Bitcoin is the biggest cryptocurrency in the crypto industry. So much so that it is universally accepted by almost every crypto-based businesses like Bitcasino. If you are new to the currency then here's everything you need to know about Bitcoin.
The word 'Bitcoin' generally refers to the currency itself. It is a type of digital money with its value relative to real money like Japanese yen and US dollars. It is also prone to inflation, deflation, and halving like real money which is caused by the basic laws of supply and demand.
Bitcoin is not regulated by a bank. That is its main appeal. Instead, it is regulated by anyone willing to help maintain the blockchain.
The nature of the blockchain made it prone to sudden changes in population. It can have thousands of new miners and users in a week. As a result, the value of Bitcoin can jump or drop in a matter of minutes.
The problem of Bitcoin with scalability is the reason so many new cryptocurrencies were made. Each one attempts to create a more stable coin.
Another core part of Bitcoin is its platform called the 'blockchain'. It works in a similar way to banks. It helps transfer people's money from one place to another or another person's ownership.
Just like how banks keep track of who owns which asset in a ledger, the blockchain does this using data. When a person wants to send Bitcoin to somebody, the blockchain changes the ownership of these assets to somebody else. It will record the previous owners of the Bitcoin while also adding the new owner.
The proof of ownership is stored in a cluster of data called a block. The network that connects these 'blocks' is called the 'blockchain'.
When people transfer money, the bank validates the transaction by proving who owns the money and justifying if this transfer is legal. The part that scares people is how banks owned by a single institution is prone to negligence or corruption. Instead of giving this power to only one governing body, the blockchain gives this power to people maintaining the blockchain called 'miners'.
This 'validation' of transactions is also not done by people. This process is fully automated by computers. Miners simply create mining farms or computers whose only purpose is to stay online all the time to give its processing power to the blockchain.
Bitcoin and other cryptocurrencies are used as real money. They are accepted by many stores but not all. Most people can only complete their trade online instead of going to a physical store. It is difficult to say which businesses accept Bitcoin or any other cryptocurrencies so always carry real money. Some foundations and companies accept Bitcoin as an investment.
Bitcoin appeals to a broad base of investors seeking alternatives outside traditional markets. Its decentralized architecture creates an asset that isn't controlled by governments or central banks. Because of its limited supply, capped at 21 million coins, investors treat Bitcoin as a store of value comparable to gold. Some allocate funds into Bitcoin to hedge against inflation or currency devaluation. Others are drawn to the innovation behind blockchain technology and the promise it holds for reshaping global financial transactions.
Some investors buy and hold Bitcoin with a timeline measured in years, expecting that the price will appreciate as adoption increases and scarcity grows. This strategy, known as HODLing, ignores short-term price fluctuations in favor of long-term value accumulation.
Others rely on short-term trading, attempting to profit from market shifts. This demands constant attention, advanced tools, and tolerance for volatility. Misreading market signals or reacting emotionally to price movements can result in losses that outweigh any potential gains.
Bitcoin can serve as a non-correlated asset within a larger portfolio. It doesn’t track traditional equities, bonds, or real estate, which allows for risk distribution. When used in moderation, Bitcoin can increase potential reward without proportionally increasing exposure to traditional market risks.
Allocating 1–5% of a portfolio to Bitcoin allows investors to benefit from upside potential while managing downside risk.
Portfolio rebalancing ensures that Bitcoin exposure stays within target ranges, especially after significant price changes.
Bitcoin pairs well with assets that generate income or growth through conventional financial markets, diluting its volatility.
To buy, sell, or trade Bitcoin, you need access to a cryptocurrency exchange. This platform connects you to the broader crypto market, functioning similarly to a stock exchange, but for digital assets. It’s where fiat currency like USD or EUR can be exchanged for crypto assets such as Bitcoin.
Without an exchange account, you won’t be able to acquire Bitcoin through traditional means, nor will you be able to convert it back to cash. This makes choosing the right exchange one of the first and most impactful decisions you’ll make as a crypto beginner.
Some exchanges cater specifically to new users. These platforms often offer:
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