2024-03-12 16:30:00
Bitcoin stands out as the pioneer and cryptocurrency with the largest capitalization on the market. Launched in 2009 with an initial value of less than 100 euros, its price recently reached 50,000 euros and could very soon reach 100,000 euros. This spectacular growth raises questions about its investment potential in the cryptocurrency space.
Facilitating exchanges without an intermediary has been the goal of Bitcoin since its creation by Satoshi Nakamoto. To create scarcity and value, the man claimed that no more than 21 million Bitcoins will be produced.
About ten years ago, it was still possible to mine Bitcoins using the computing power of your computer. Today, while the value of this cryptocurrency continues to increase and the number available is becoming rarer, mining requires far too much power and the best way to invest is still to exchange your euros to acquire one or a part of an already mined Bitcoin.
What is Bitcoin?
Bitcoin was introduced in 2009 by a person (or group) under the pseudonym Satoshi Nakamoto. It is based on a distributed ledger technology called blockchain, which records all transactions transparently and immutably. Bitcoin’s key feature is its programmed scarcity: there can only be 21 million bitcoins in circulation, which contributes to its appeal as a store of value.
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Bitcoin Wallet: To use Bitcoin, you need a digital wallet, which can be a applicationapplication software, an online wallet, hardware physiquephysique or a paper wallet. These wallets store your private keysprivate keysnecessary to access your bitcoins.
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Buying Bitcoin: You can buy bitcoins on cryptocurrency exchanges using traditional currencies. You can also receive bitcoins as payment for goods or services.
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Transaction: To make a Bitcoin transaction, you need to know the wallet address of the receiving party. You can send bitcoins from your wallet to another using this address.
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Mining (optional): Mining is the process by which new bitcoins are created and added to the blockchain. However, mining requires significant computing power and is not necessary to use Bitcoin.
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Safety: Safety is paramount. Be sure to protect your private keys and use security practices such astwo-factor authenticationtwo-factor authentication to prevent unauthorized access to your wallet.
Buy bitcoins by creating a virtual wallet
To buy Bitcoins, the easiest way is to go through an exchange platform. These are numerous, as are the scams. It is therefore essential to be vigilant, to be well informed (on Cryptoast.fr for example), and above all to favor recognized services. Among the most popular are Etoro and Coinbase, affordable platforms for beginners also available as an app mobilemobile.
Once your account is created on Etoroyou have a bridgebridge secure to make your investments in various cryptocurrencies, 14 in total, but also in stock market securities. It is then possible to configure your credit card, your bank account but also a Paypal account. The latter will notably make it possible to recoverargentargent quickly if you want to resell your Bitcoins after making a profit.
On his side Coinbase is strictly focused on cryptocurrency and is even simpler to use than on Etoro. 42 cryptocurrencies are listed with Bitcoin obviously in the lead. However, only the credit card can be configured as a payment method.
For long-term investments, with a large initial sum, choose Etoro. Coinbase is primarily designed for short-term investments durationsdurations with the flexibility of being able to make small spending in Bitcoin on InternetInternet.
Above all, don’t forget to regularly monitor the price of Bitcoin to determine whether or not you should resell your initial investments in order to make a capital gain. Also note that it is possible to transfer your Bitcoins for “cold” storage to hardware wallets in the form of keys USBUSB secure. The French company Ledger is particularly renowned for its products.
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