Bitcoin. What is it ?

Hello and welcome to my newly designed blog!

This site is going to be talking about Bitcoin and everything related to bitcoin and occasional alts.. My niche is Bitcoin so I will be mainly focusing on that.

So let’s begin.

What is Bitcoin and what it’s not?

Well Let’s start with the easiest first..

Bitcoin is simply digital cash.. In any country in any currency bitcoin is available to use.

You begin the journey by creating a bitcoin wallet.. a quick google search will show you all available wallets in your jurisdiction. I say jurisdiction because the jury is still out in some regions as to the validity of bitcoin but i will cover that later on.

Once you have a wallet created, verified and secured (2FA is best… This means you get a text message/Email and may have to enter a code on your phone from an authenticator to buy/sell/trade your coins. It keeps your account secure).

Once created you fund your wallet with cash… You can meet local sellers.. You can go to exchanges…. You can buy at walmart! You pay the cash they send you bitcoin… It’s that easy. However PLEASE be careful which site you use and whom you use to buy from as not everyone in the space is legitimate!

You buy the bitcoin… Then you can spend it using a bank/debit card. Easy right? It can be very easy or it can be very hard depending on if you are open to bitcoin or whether you are not.

Is Bitcoin an Investment?

Well that depends who you ask… Some say YES! others say NO! In the UK it has recently been recognised as ‘Property’ Source: Coindesk.

I personally class it an investment. Why? Because when someone buys it they do so mostly in the ‘hope’ of the gains they will receive by holding it.

See the chart? If someone had bought in 2014/2015/2016/2017 they would have noticed very little movement… simply because bitcoin was still evolving.. still maturing… still becoming known to all the other bitcoin sites… it was gathering pace..

in 2018 the price started picking up again.. I’m not going to go into how much money you could have made as this would not be a true representation of of all the variables involved by if you look at the chart you can see what is possible.

However it is fair to say that if you purchased bitcoin at the launch and held until now… well…. Life would be very different that’s for sure. That’s all I will say on that.

SO.. How much does Bitcoin cost?

Well.. That easy to answer..

You can buy as much or as little as you want, You get what you pay me. Every transaction incur’s a small minor fee which is mostly bore by the sender.

If you wanted to buy $50

$50 = 0.0082247

$100 = 0.0164494

$150 = 0.0246741

Each time you get the fractional amount based on the full price of the coin on the exchange/person you transact with. They will ALWAYS tell you how much btc you will get before you receive it.. If your not happy with that then you don’t need to proceed with the transaction.

It is noting at this point that you NEVER get btc first… It might be paid for in advance before BTC or any other alt is released. This is an industry standard.

How do you spend Bitcoin?

Ah the part some struggle with. Bitcoin is fully spendable right now, All that is required is that the seller has a bitcoin account. It flows from the buyer to the seller in seconds and in most cases is delivered in minutes without involving banks.. It’s more seamless than trying to argue with the bank to release your funds or for you to try to withdraw $20’000 or so in cash… Banks don’t like things that upset their daily MO then they ask questions… Bitcoin solves many problems.

Over the coming days/weeks/Months I will be providing more content on Bitcoin. At the bottom of each post will be a link where you contact me.

William

P.S It’s worth noting whilst I sell bitcoin I do not hold it… I buy it in on demand.

Contact me: William O’Toole Contact Form

2 thoughts on “Bitcoin. What is it ?

  1. Does bitcoin still a great digital money in nowdays?

    1. Yes… Always! The more you have and the longer you hold.. The better your return!

Leave a Reply

Your email address will not be published. Required fields are marked *