Bitcoin for Beginners - How to Buy Bitcoins, Sell Bitcoins, and Invest in Bitcoins
By J.T. Jackman
4/5
()
About this ebook
Bitcoin for Beginners
Bitcoin has taken the world by storm. The reasons are obvious.
With the value of Bitcoins increasing by 1,000% in less than a year, Bitcoins have been a lucrative investment for many.
Bitcoins can offer privacy to individuals that their own currencies do not offer.
Bitcoins offer safety from the inflation caused by the widespread money printing going on throughout the world.
Bitcoins are an international currency and are free of countries and borders
In Bitcoin for Beginners - How to Buy Bitcoins, Sell Bitcoins, and Invest in Bitcoins you will learn about:
What Bitcoins are
The history of Bitcoins
How Bitcoins work
How Bitcoin mining works
How to use Bitcoins
The Benefits of Bitcoin
Bitcoin wallets
Using Bitcoin as a currency
Investing in Bitcoins
And much more
Many avoid Bitcoins because they seem too complicated. Bitcoin for Beginners is an easy to understand, plain English guide that is free of complicated and confusing technical jargon. You will learn all about Bitcoins in a simple, straight forward way that is easy to understand.
Related to Bitcoin for Beginners - How to Buy Bitcoins, Sell Bitcoins, and Invest in Bitcoins
Related ebooks
Mastering Bitcoin 101: How to Start Investing and Profiting from Bitcoin, Blockchain, and Cryptocurrency Technologies Today (for Beginners, Starters, and Dummies) Rating: 3 out of 5 stars3/5Bitcoin: Understanding Bitcoin, Mining, Investing & Trading for Beginners Rating: 5 out of 5 stars5/5Cryptocurrency Digital Revolution Rating: 5 out of 5 stars5/5Cryptocurrency. Your Ultimate Guide Rating: 0 out of 5 stars0 ratingsBitcoin From Beginner To Expert: The Ultimate Guide To Cryptocurrency And Blockchain Technology Rating: 4 out of 5 stars4/5Hitting It Big With Cryptocurrency Rating: 5 out of 5 stars5/5Cryptocurrency Investment Handbook: How to Benefit from the Next Big Technology after the Internet Rating: 5 out of 5 stars5/5Bitcoin and Digital Currency for Beginners: The Basic Little Guide Rating: 5 out of 5 stars5/5Bitcoin and Crypto for Beginners Rating: 4 out of 5 stars4/5Invest in Cryptocurrencies? Finance, E-money and Revolution Rating: 4 out of 5 stars4/5How to Make Money Online With Digital Currency Bitcoins Rating: 0 out of 5 stars0 ratingsBitcoin Investment KnowHow Made Easy Rating: 0 out of 5 stars0 ratingsBitcoin Secrets Revealed: Build Passive Income Investing, Trading, Mining, & Lending Cryptocurrencies Rating: 0 out of 5 stars0 ratingsThe Bitcoin Revolution Rating: 5 out of 5 stars5/5Cryptocurrency: Beginner's Simplified Guide to Make Money with Cryptocurrency: Cryptocurrency Investing Series, #1 Rating: 0 out of 5 stars0 ratingsBitcoin Explained: Become a Bitcoin Millionaire in 2018 Rating: 0 out of 5 stars0 ratingsBitcoin: The Ultimate Bitcoin Guidebook For Beginners Rating: 4 out of 5 stars4/5Cryptocurrency: Understanding Bitcoin, Bitcoin Cash, Ethereum & Altcoins Rating: 5 out of 5 stars5/5Beginners Guide To Understanding Bitcoin Cryptocurrency Rating: 5 out of 5 stars5/5The Bitcoin and Cryptocurrency Buyers Guide Rating: 0 out of 5 stars0 ratingsCrypto Investing Millionaire: Fund Your Retirement 10x Quicker Rating: 5 out of 5 stars5/5Bitcoin Legendary: The Truth About The Most Revolutionary Asset Of Our Lifetime Rating: 0 out of 5 stars0 ratingsDigital Assets: Your Guide to Investing and Trading in the New Crypto Market Rating: 0 out of 5 stars0 ratings
E-Commerce For You
Online Investing Rating: 0 out of 5 stars0 ratingsDigital Product Blueprint - Step By Step Guide To Create And Sell Profitable Digital Products Online Rating: 4 out of 5 stars4/5The Passive Income Cheat Sheet Rating: 4 out of 5 stars4/5The Digital Product Success Plan: Building Passive Income on Etsy (and Beyond!) Rating: 4 out of 5 stars4/5Trade Like a Stock Market Wizard: How to Achieve Super Performance in Stocks in Any Market Rating: 5 out of 5 stars5/5Beginner's Guide To Starting An Etsy Print-On-Demand Shop Rating: 0 out of 5 stars0 ratingsSuper Simple POD: An A-to-Z Guide to Print on Demand Success Rating: 5 out of 5 stars5/5How to Write Copy That Sells: The Step-By-Step System For More Sales, to More Customers, More Often Rating: 4 out of 5 stars4/5Chat-GPT Income Ideas: Pioneering Monetization Concepts Utilizing Conversational AI for Profitable Ventures Rating: 4 out of 5 stars4/52022 Best Ways To Make Money Online Rating: 4 out of 5 stars4/5The YouTube Formula: How Anyone Can Unlock the Algorithm to Drive Views, Build an Audience, and Grow Revenue Rating: 4 out of 5 stars4/5How I Made My First $1000 on Etsy (With No Social Media Following and No Money to Spend on Advertising Rating: 5 out of 5 stars5/5A Beginner's Guide To Day Trading Online 2nd Edition Rating: 4 out of 5 stars4/5The Ultimate Day Trader: How to Achieve Consistent Day Trading Profits in Stocks, Forex, and Commodities Rating: 4 out of 5 stars4/5Influencer: Building Your Personal Brand in the Age of Social Media Rating: 4 out of 5 stars4/5Starting an Etsy Business For Dummies Rating: 5 out of 5 stars5/5The Beginner's Affiliate Marketing Blueprint Rating: 4 out of 5 stars4/5The Psychology of Selling: Increase Your Sales Faster and Easier Than You Ever Thought Possible Rating: 4 out of 5 stars4/5Jab, Jab, Jab, Right Hook: How to Tell Your Story in a Noisy Social World Rating: 5 out of 5 stars5/5How to Start a T-Shirt Business on Merch by Amazon Rating: 4 out of 5 stars4/580/20 Sales and Marketing: The Definitive Guide to Working Less and Making More Rating: 4 out of 5 stars4/5Crushing It!: How Great Entrepreneurs Build Their Business and Influence—and How You Can, Too Rating: 4 out of 5 stars4/5
Reviews for Bitcoin for Beginners - How to Buy Bitcoins, Sell Bitcoins, and Invest in Bitcoins
14 ratings0 reviews
Book preview
Bitcoin for Beginners - How to Buy Bitcoins, Sell Bitcoins, and Invest in Bitcoins - J.T. Jackman
Chapter One
Meet the Bitcoin
If you were to research Bitcoins you would find a lot of things said about them during their very short lifespan.
For example, in an article in the New York Times of November 26, 2013, one expert called them everything from zany
and weird
to speculative
and the currency of the future
. (Chen)
How can something that doesn't physically exist, being essentially a string of numbers hosted in an online ledger, fall under so many descriptions and terms?
It is because Bitcoins are still evolving - even as we speak. They are less than five years in age and are popular for many different reasons. They don't belong to any sort of banking institution. They are part of a decentralized network of computers, and they are the end result of a lot of complex mathematical calculations and equations.
They are also created with a firm cap in sight (21 million is the total number that can ever be created), and are traded on a peer to peer system that rewards computer hosts with newly created Bitcoins as well.
They bypass all of the fees and limitations of credit card companies and standard payment processors. They are both very public and yet entirely private, and are authenticated in a way that guards against fraud to the greatest extent possible.
As said in that New York Times article, Bitcoin is "...digital cash, offering the same relative anonymity and freedom as a paper sack of bills."
Now, you might argue that such a description is just one person's opinion, and that it is only time that will tell if Bitcoins are here to stay. And while it is true that we each have an opinion, we also have the facts.
For instance, the author of this op-ed
piece cited above was also the same journalist who first broke the news of Bitcoins back in 2011, and someone who has been actively watching the growth of this unique currency.
More importantly, this journalist was the first to see and to describe just how Bitcoins were being used in a large number of ways, and usually for the benefits that come with anonymity. That anonymity is still one of the selling points
for those new to Bitcoins, but there is a lot more to the story.
What Kind of Coins?
Of course, you may be like millions of would-be buyers and investors and ask Just what the heck is a Bitcoin anyway?
And that is the focus of this book.
We are going to look at Bitcoins in terms of:
What they are;
How to obtain them;
How to store and use them;
Whether they are a good investment; and
Where they are headed.
Though you might go online and find a handful of sites offering to explain Bitcoins, you will end up like millions of others - scratching your head and saying Huh?
This is because there are a lot of different facts or truths about them, including:
You will read that miners
create them.
You will read that they are not actually coins, but lines of code and inputs
.
You will hear about anonymous cryptographers and groups of programmers seeking solutions to complex mathematical problems.
You will quickly see that the technicalities of Bitcoins will boggle the average reader's mind.
So, to keep it as simple as possible:
Bitcoins are viewed as a form of digital currency
. This means that they are not an actual, physical currency such as a dollar or a bar of gold.
They are not in the hands of a bank either. Instead, Bitcoins are stored in computers spread all across the Internet.
They belong to a network of buyers and investors and they are used as a payment system as much as currency.
They are anonymous and yet the system and all of the transactions are public. (Don't worry - we'll explain!)
They are, as one writer suggested a re-imagining of international finance, something that breaks down barriers between countries and frees currency from the control of federal governments
However,