Bitcoin (BTC) is the #1 cryptocurrency in the world. How to use it?

Bitcoin (BTC) is the #1 cryptocurrency in the world. How to use it?

The very first cryptocurrency in the world, "digital gold", TOP-1 cryptocurrency in the world by capitalization - all this is about Bitcoin.

This coin has both a lot of fans and haters, but there is no point in minimizing the success Bitcoin.

In this article, we will look at: the world's first cryptocurrency, analyze its advantages and disadvantages, explain why to use it, tell you what makes it valuable, and also provide instructions for use.

What is bitcoin. Advantages and disadvantages


Bitcoin (BTC) is the world's first created decentralized cryptocurrency, which to this day remains the leading digital coin by market capitalization. The launch of this cryptocurrency was announced in 2008 and was launched in 2009. Bitcoin is a global peer-to-peer payment system powered by Blockchain technology that allows parties to transact with each other without the need for an intermediary bank or other financial institution.

This cryptocurrency is often seen as a digital alternative fiat currencies and gold.

Unlike traditional money, Bitcoin does not have a central bank to control its issuance. Instead of this BTC is a financial system controlled by thousands of computers distributed around the world. Anyone can join the network Bitcoinby simply downloading its software.

Attractiveness Bitcoin compared to the traditional system is the impossibility of censoring payments, transactions cannot be canceled in it, funds cannot be reused, and payment cannot be sent to BTC can be done at any time from anywhere without any restrictions.

Advantages:

  • Decentralization. The very first and main advantage is decentralization, because this characteristic is fundamental for most cryptocurrencies. Bitcoin not controlled by a private company or government agencies. In mid-2010, even the creator of the world's first cryptocurrency, Satoshi Nakamoto, stopped participating in the work on the project and gave control to independent developers.
  • Network uptime. It is believed that the network of the world's first cryptocurrency is resistant to attacks (including a 51% attack) that can affect transactions and the blockchain as a whole.
  • Digital alternative to gold. Analysts at the investment company Grayscale are confident that Bitcoin will replace, if not already replaced, gold and is its digital alternative.
  • An easy way to invest. To start trading bitcoin no special licenses or knowledge required. It is enough to go through the registration procedure on one of the cryptocurrency exchanges (by the way, we recommend bybit.com) or download an electronic wallet and buy a coin there.
  • Protective asset. During local economic crises, the exchange rate is often Bitcoin on local sites rises above the average market values. When people lose confidence in their national currencies, they try to find an alternative to save their money. Bitcoin, despite the insane volatility, is not subject to inflation and, moreover, hyperinflation. Therefore, it looks like a great investment option.

Disadvantages:

  • Volatility. It is difficult to be sure that savings in cryptocurrency will retain their value. Price BTC at any moment it can sharply collapse by tens of thousands of dollars, or rise.
  • High Commissions. The main disadvantage of this cryptocurrency is considered to be high commissions, but they still don’t bite so much for large amounts. For example, a $100 transfer fee can reach up to $30. Not very pleasant, agree.
  • Regulators. With a high degree of probability in the future we will see regulation Bitcoinas a digital asset. This is what the Fed (Federal Reserve System) is doing now.
  • Fraud. This cryptocurrency is used not only for investments and transfers, but also for the purchase / sale of prohibited substances, money laundering, and so on (we condemn such actions not only in relation to bitcoin, but in general).
  • Difficulty in using the system... Owners BTC are not error-proof. For example, if an investor forgets the password for his Bitcoin-wallet, then he will have nowhere to turn to get access back.

Why Use Bitcoin


Many appreciate the first cryptocurrency for its inclusive nature, i.e. anyone with an internet connection can send and receive these coins. This is similar to cash in that no one can stop you from using it, and this digital advantage means that with Bitcoin you can exchange currency all over the world.

What makes bitcoin valuable


Instead of spending, investors store ("hodl") for a long time with the prospect of further growth. Bitcoin earned the nickname "digital gold" due to the limited number of coins available. Some investors are considering the world's first cryptocurrency as a store of value. The reason for this is the presence of such factors as: shortage and complexity of production. It is also often compared to precious metals such as gold or silver.

Holders believe that the presence of these qualities, combined with global availability and high liquidity, make it an ideal vehicle for maintaining wealth over long periods. They believe that the value Bitcoin over time it just keeps growing.

Bitcoin Instructions


First of all, it is worth noting that there are several ways to buy Bitcoin:

  • Exchangers... Probably, the easiest way is to mark the exchangers, because you just need to choose the direction of exchange, fill out the form and complete the operation. Recall that it is best to use the monitoring exchangers the Bestchange.r and choose the exchanger that suits you. Please note that the minimum exchange amount may not always match yours. There are also monitoring-exchangers Kurs.expert и bitcoinmarket.global, which can also be used;
  • Exchange. With a probability of 99% on the exchange where you are registered, there is Bitcoin. To buy, we recommend using the exchanges Binance.com и bybit.com.
  • Buying BTC through an exchange
  • How to deposit Bitcoin on Bybit.com
  • Buying Bitcoin on Bybit.com via P2P

Above we have analyzed the most popular ways where you can store BTC, but there are other options:

Similar articles


If you are a beginner, we can recommend that you also read our Articles:

Conclusion


Bitcoin For a long time it was not perceived by large players as an opportunity to store money for the long term, but everything has changed. Now it is a desirable asset in the portfolios of investors. It's hard to say what to expect Bitcoin in the future, but I would like to believe in "To The Moon". Perhaps these thoughts are best left for another article.

In this article, we analyzed: the world's first cryptocurrency Bitcoin (BTC), its advantages and disadvantages, why use bitcoinexplained what it does Bitcoin valuable, and also gave small examples of how to work with the coin.

Write in the comments which wallets you use and consider convenient for PC or mobile devices, there may have been some problems with certain wallets. Who will have difficulties in buying or selling, questions on creating wallets, you can write to the contacts provided below. We will definitely help and advise you!

We hope this article was helpful to you. All successful and profitable investments!

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Комментарии (48)

  1. Lumin Today, 19: 31

    Биткоин - отличное средства для хранения сбережений, особенно если покупать его спаде. Скорей всего биткоин еще подешевеет, прежде чем снова начнет расти в цене.


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  2. Wael77 31 August 2022 10: 22

    Interesting to read!!

    Thanks admin!

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  3. 4difeer666 6 August 2022 21: 25

    An excellent article, of course, the majority of the population still associates crypto only with bitcoin, I wonder what will happen in a couple of years

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  4. Mihhha April 11 2022 23: 56

    Thank you for an extensive and interesting article, after reading which there is really something to think about. All the best in keeping your assets and investing your funds.

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  5. UdayAS8 25 January 2022 00: 41

    veey useful article thanks richie

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  6. Anzhel 30 November 2021 23: 37

    Thanks for the article, I use blockchain

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  7. Tatarin152152 12 November 2021 19: 14

    Thank you for the article. 

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  8. zakonich 18 August 2021 10: 05

    and which wallet to use for USDT, since now there are many in what HYIPs this is the current currency as far as I understand
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    1. richmonkey_support 18 August 2021 15: 47

      zakonich, we have an article on this topic. You can see:
      https://richmonkey.biz/2862-tether-samyy-krupnyy-steyblkoin-kak-im-polzovatsya.html
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    2. UdayAS8 28 February 2022 13: 52

      Personally, I advice you to use Tronlink.

      There is an article on the blog about it and you should read the comments there is some very useful information

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      1. levnks 28 February 2022 20: 05

        It's true) It's best to use a Tronlink wallet. You can earn a little TRX and not pay a commission

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        1. UdayAS8 28 February 2022 20: 20

          Brother, I think that you and me deserve some prize from anyone who reads our comments in the "Tron link" review article cause he will then understand everything about it hhh :)

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          1. levnks 28 February 2022 22: 45

            phahahaha, actually real :) let's hope that many people found out about this after that dialogue, otherwise it's a shame that many do not know and users like me were ..

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  9. kiryamalik 5 June 2021 12: 49

    I used to use coinbus, now I have already stopped dealing with cryptocurrency
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  10. gilew455 April 19 2021 08: 24

    I will use the advice and install one of the wallets. Thank you for the article.
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  11. Andrii12 18 February 2021 09: 35

    Thank you for the article
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  12. ilya28087 4 February 2021 19: 58

    Now more and more projects are using bitcoin as a method of replenishment, therefore, this wallet must also be available. But I didn't quite figure it out, in Peyer, for example, you can also store cryptocurrency and make transfers, is it necessary to register a separate wallet, is there any point in this, perhaps less commission or something?
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    1. richmonkey_support 5 February 2021 12: 09

      ilya28087, payeer for cryptocurrencies is best not used. I advise you to use blockchain or exodus
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      1. AlexanderKudrya8027 12 February 2021 20: 02

        I use Exodus, a very nice and convenient wallet
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      2. ilya28087 13 February 2021 13: 25

        Thank you, read more articles on this matter, installed exodus, a convenient wallet.
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      3. kiryamalik 19 June 2021 13: 55

        And if you store in a Ripple on a payer? It seems there is almost no commission
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        1. UdayAS8 April 13 2022 01: 59

          No problem as long as you keep an eye for minimum deposit limit

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    2. UdayAS8 April 13 2022 01: 58

      many people lost their asset when trying to send them to Payeer because of the minimum amount limit and blocking accounts

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  13. AlexanderKudrya8027 26 November 2020 08: 41

    Thank you for the article!
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  14. Robin2020 19 November 2020 06: 32

    Thank you for the article!
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  15. delix 8 July 2020 12: 54

    Thank you for the article.
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  16. NikitaPuchkin2000 17 May 2020 09: 43

    Thank you for the article. Did not know much
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  17. matrix2000 31 July 2019 16: 10

    Of the above, there are also personal ones from the crypt itself, such as bitcoin or litecoin, which can allow you to store the crypt in "cold storage"
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  18. matrix2000 22 June 2019 11: 16

    I also use the blockchain
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  19. Lord 1 February 2019 22: 04

    Tell me, please, with these wallets you can get cryptocurrency in the projects, say doubly.io. If not, how to do it?
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    1. MrFox 31 March 2019 22: 00

      You can enter the address and send, there is nothing complicated.
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    2. 4difeer666 April 1 2019 00: 12

      You also show the address to which you want to transfer, and the amount, kntrl + in - kntrl + c)
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  20. Alex52 15 January 2019 23: 58

    I use the blockchain, a very convenient wallet
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    1. MrFox 31 March 2019 21: 59

      Yes, it is convenient and I also use it, although the commission there is not the lowest.
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      1. 4difeer666 April 1 2019 00: 11

        Also moved from a kryptonator to it, more convenient, definitely
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        1. matrix2000 31 July 2019 16: 08

          Similarly))
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          1. kiryamalik 12 June 2021 12: 55

            I agree with all of you
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      2. kiryamalik 22 June 2021 08: 27

        Totally agree
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  21. evkonti 7 January 2019 14: 05

    Very useful post. Thank! I did not know that there are clash of services for storing cryptocurrency. I ought to study this topic more thoroughly ... Now there is something to do at leisure.
    In the meantime, I use the blockchain.
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  22. udimka 19 December 2018 14: 57

    I use the blockchain, a very convenient wallet, recently, by the way, they added the ability to store a stellar, transferred it from the exchange, I would like to add more currencies there in the future.
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    1. Asmadai 31 December 2018 17: 46

      Blockchain is an online wallet, isn’t it dangerous to use it ??
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      1. richmonkey 23 May 2019 10: 49

        For everyday work a very good wallet.

        If for storage and larger amounts, download cold electrum
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  23. 4difeer666 17 May 2018 21: 37

    All my Bitcoin system tools are on a kryptonator, I advise you, a very good crypt wallet
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    1. BoB4uK1908 18 May 2018 20: 43

      A cryptonator is good when transferring a fixed commission, but when exchanging for other currencies it is just crazy.
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      1. Asmadai 31 December 2018 17: 47

        and cold wallets are better not to use ??
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        1. richmonkey 23 May 2019 10: 49

          Electrum good wallet
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        2. matrix2000 31 July 2019 16: 09

          cold is best
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          1. 4difeer666 1 August 2019 00: 10

            Cold for investing is not at all convenient, and if you are an investor in a crypt, not a hip, then yes, very comfortable
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