Last Updated: 27 November 2023
You have probably heard of Bitcoin on the news, from a friend, or simply in conversation, but what exactly is it?
Bitcoin represents a shift in the way people think about money and value exchange. Few events in human history have been so widely discussed yet so poorly understood. They are underpinned by innovative technology, invented by an unnamed author, and threaten to disrupt the global financial landscape forever.
We will take you through a crash course on how Bitcoin – and cryptocurrencies in general – can change the way we live in “Bitcoin Fundamentals: A Simple Guide to the Cryptocurrency.”
Our ten-part series will provide you a solid grasp of not only what Bitcoin is but also how it works, where you can get it, and if it will ever be regarded as legal cash!
Part 1 – What is Bitcoin?
In part one, we dive headfirst into Bitcoin and, step by step, unpack this new financial paradigm. We define Bitcoin, explain what the Blockchain is, and explain how and when Bitcoin began in this post.
Part 2 – How Does Bitcoin Work?
To function, Bitcoin makes use of cutting-edge technology and a global network of computers. Part two delves deeper into the Bitcoin process by exploring the Blockchain’s mechanics and evaluating what parties should be aware of when utilizing Bitcoin.
Part 3 – What is Bitcoin mining?
Bitcoin mining is defined as a process for creating and entering Bitcoins into the system. In part three, we’ll look at how this process works and whether or not Bitcoin mining is profitable.
Part 4 – Will Bitcoin fail?
Part four examines the chances of Bitcoin failing, given its emergence as a unique technology and its threat to conventional financial systems. We also look into whether Bitcoin is essentially an economic “bubble” or if it is fake.
Part 5 – Is Bitcoin a legal currency?
Official attitudes about Bitcoin and other cryptocurrencies are changing. In part five, we look at whether Bitcoin is legal and give instances of how various governments and financial institutions are dealing with Bitcoin and other cryptocurrencies.
Part 6 – Is Bitcoin currency?
Bitcoin is intended to function as a limited-supply digital asset. In part six, we look at whether Bitcoin satisfies the primary use purposes and features of money, as well as how it does so. We also assess several large online merchants who accept Bitcoin as payment.
Part 7 – What is the value of a Bitcoin?
In part seven, we look at how the value of Bitcoin is determined by the public’s investment and use, as well as how the process of mining is used to distribute new Bitcoins into the market.
Part 8 – How can I purchase and sell Bitcoin?
Bitcoin can be obtained in a variety of ways. In part eight, we will go through how to accept Bitcoin as payment for goods or services supplied, how to receive it as a gift, and how to buy it on an exchange or with a custodial service of one’s choice.
Part 9 – Where can I save my Bitcoin?
In part nine, we will look at how investors can keep Bitcoin and which wallets are appropriate for them, including a look at the desktop, mobile, hardware, and paper wallets.
Part 10 – Why should I trade in Bitcoin?
We look at why Bitcoin is worth investing in and how it could alter the world forever in the final part of “Bitcoin Fundamentals: A Simple Guide to the Cryptocurrency.”
Bonus Part 1 – What is a Bitcoin Robot?
This type of technology has enabled investors all around the world to achieve financial independence or increase their passive income.
Bonus Part 2 – What is a Crypto Trading Bot?
A crypto trading platform is a trading system that uses advanced algorithms and artificial intelligence to assist you in trading cryptocurrency using market patterns and data.