What is Bitcoin? How to buy, sell and trade Bitcoin?
- WBOYOriginal
- 2024-07-26 16:16:01622browse
Bitcoin is a decentralized digital cryptocurrency invented by Satoshi Nakamoto. Ways to buy and trade include buying with fiat currency through exchanges such as Coinbase. Trade directly with sellers through peer-to-peer platforms like LocalBitcoins. Sell Bitcoin for fiat or trade other cryptocurrencies on exchanges or peer-to-peer platforms.
What is Bitcoin?
Bitcoin is a decentralized digital cryptocurrency invented in 2008 by Satoshi Nakamoto (pseudonym). It utilizes cryptography technology to ensure the security, transparency and anonymity of transactions. Unlike traditional currencies, Bitcoin is not owned by any central authority and is instead managed through a distributed ledger network called a blockchain.
Bitcoin Buying, Selling and Trading
Buy Bitcoin
- Cryptocurrency Exchanges: Platforms like Coinbase, Binance, Kraken and others allow you to buy Bitcoin using fiat currencies like USD, EUR.
- Peer-to-peer (P2P) trading: Platforms such as LocalBitcoins and Paxful connect buyers and sellers and allow them to trade Bitcoin directly.
Sell Bitcoin
- Cryptocurrency Exchanges: Similar to buying Bitcoin, you can sell Bitcoin through an exchange and exchange it for fiat currency.
- P2P Trading: You can also sell Bitcoins to other individuals on P2P platforms.
Bitcoin Trading
Bitcoin can be traded on cryptocurrency exchanges or P2P platforms. The trading process typically involves the following steps:
- Account Creation: Create an account on an exchange or P2P platform.
- Deposit: Deposit fiat currency or Bitcoin into your account.
- Place an order: Select the amount and price of Bitcoin you want to buy or sell.
- Matching: The exchange will match your orders with other users’ orders.
- Finished: When your order matches another order, the transaction is complete.
Note:
- The price of Bitcoin is highly volatile, so caution is required when buying and selling.
- Choose a reputable exchange or P2P platform to ensure safe trading.
- Protect your account with two-factor authentication (2FA).
- Trade where you understand the risks involved and are prepared to withstand potential losses.
Bitcoin Price Tracking
As of 13:00 on July 26, 2024, Bitcoin (BTC) was trading at $66,987.77, with a 24-hour trading volume of $353.9 billion. Bitcoin is up 4.28% over the past 24 hours.
Reasons for Change
The rise in Bitcoin price can be attributed to the following factors:
- Macroeconomic Uncertainty: Global economic concerns and rising inflation have led investors to seek safe-haven assets, and Bitcoin is one of them one.
- Institutional Adoption: More institutional investors are including Bitcoin in their portfolios, which increases demand for the currency.
- Halving Effect: Bitcoin’s halving event is expected to occur in January 2024, which will reduce the number of Bitcoins entering the market.
Future trend prediction
In the short term, Bitcoin is expected to continue to rise. Macroeconomic uncertainty will continue and institutional adoption will increase. Additionally, the halving effect could push prices even higher.
Recommendation
For investors looking to add Bitcoin to their portfolio, now may be a good time to buy. However, investors should always conduct their own research and risk assessment before making any investment.
Key indicators
- Current price: 66987.77 US dollars
- 24-hour trading volume: 353.9 billion US dollars
- Circulation market capitalization: 132.1 trillion US dollars
- 24-hour increase: 4.28%
- Circulation volume: 19.73 million US dollars
- Market capitalization: 132.1 trillion US dollars
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