Starting Out With Cryptocurrency? Here are five things to note before you buy Bitcoin
Although Bitcoin got popular in 2017, not everyone bought the coin at the time. The five stages of adoption principle categorize people into five classes when it comes to accepting new technology. The five classes are Innovators, Early Adopters, Early Majority, Late Majority, and Laggards. For cryptocurrency, the 'majority' stages were reached in 2017. However, events of the past few years after that has shown that cryptocurrency is here to stay. The result of this is that more people are beginning to join the world of cryptocurrency.
Top Countries To Be A Bitcoin Miner
Buying cryptocurrency online has been made easy. As a matter of fact, buying Bitcoin online might just be more convenient for you than getting to the nearest ATM. However, in some locations in the world, the cost of mining one bitcoin is just a fraction of the amount that you’d get for the same coin in the open market. This is why Bitcoin mining is gaining more traction around the world, particularly in countries where cryptocurrencies are not strictly regulated and the total cost of mining is not as high.
What Makes the Bitcoin Dominance Important?
If you are familiar with the world of cryptocurrency, then you’d be aware that a number of altcoins have begun to lose their luster since last year. The main reason for this, according to market surveys is that more people now prefer to buy bitcoins over alternative cryptocurrencies. This is what is referred to as “Bitcoin Dominance.”
Buying Bitcoin Fractions in 2020
When Bitcoin started, getting the cryptocurrency was not difficult at all. At the time, one could conveniently get a whole coin and even more. Getting commodities at the time using Bitcoin required a whole lot of coin. One BTC, at the time, was worth about 0.004 USD. The implication of this is that with one dollar, you could buy as much as 250 BTC. However, those days are definitely behind. Currently, one BTC is currently worth about 10,000 USD and not a lot of people can afford to buy a whole coin. This leaves most crypto users with only one option; buying fractions!
Crypto Rating - Top Cryptocurrencies 2019-2020
Rating the most popular and promising cryptocurrencies in 2019 can be done based on different criteria. The rankings are based on adoption, technology, investment reward & risk involved in the cryptocurrency. However, merging all these factors, a holistic ranking can be obtained.
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When you make an exchange we recommend you follow for the following precautions:
- Never transfer money to unfamiliar people.
- If a friend of yours is asking you to transfer money onto a certain account, by contacting you in Telegram, WhatsApp, Skype or any other messaging system that does not allow you to confirm their identity, please call him/her over the phone to make sure nobody else is acting on your friend’s behalf.
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- BTCBIT recommends to use Electrum wallet, Blockchain wallet online and Trezor or Ledger.