BTC

 ( Before investing in bitcoin.. this is what you need to know about the world's first digital currency )

The popularity of the digital currency Bitcoin (BTC) has grown exponentially since its appearance on the market 11 years ago, and it is currently the most expensive virtual currency. In a report on the world's most prominent digital currency, the Colombian "Vinantas Personnales" website says that interest in entering this market and investing in Bitcoin has increased significantly in recent years. Expert Juan Pablo Zuluaga, founder of the "Miss Probias Finantas" Institute for Financial Education and Personal Finance, reviews the most important information you should know before investing in this currency. What is bitcoin? According to the Bitcoin website, this coin is a consensus network that enables a new payment system and a fully digital currency. It is a decentralized payment method that does not require an intermediary, and is based on computer mathematics technology. This virtual currency appeared after the 2008 crisis, and the creator of Bitcoin is known by the pseudonym Satoshi Nakamoto. How it works? "Currently there are more uses, and they are working very well in large amounts and between countries. Bitcoin has a great value in the market...At any time you can exchange bitcoins for dollars and buy whatever you want later," says Zuluaga. There is now a vast market in which cryptocurrencies are used, and many companies have already started dealing with Bitcoin. For example, you can buy airline tickets, make a hotel reservation, or dine at a restaurant and pay with Bitcoin. According to Columbia Fintech, more than 20 companies and institutions in Colombia accept - for example - Bitcoin, in areas such as tourism, food preparation and digital services. The daily trading volume is estimated at 500 thousand dollars.

Bitcoin value fluctuation: Zuluaga explains that one of the most prominent criticisms of this digital currency and what limits its widespread use is the volatility of its value, and says, “It is difficult to set a fixed price for things in Bitcoin, but without a doubt it is already an asset that we can find in many places today.” . Do I need thousands of dollars to buy Bitcoin? The same expert explains that buying Bitcoin does not require investing thousands of dollars, as the currency is divided into smaller units known as satoshis. Bitcoins can be purchased at $50, $100 or $1,000, and you do not need to buy the entire coin for $31,000 (coin value as of January 27, 2021). The importance of learning the principles of investing in Bitcoin There is a lot of information circulating about Bitcoin on the Internet, but investors in virtual currencies often do not know how this market works and the possibilities it has, according to Zuluaga. According to him, many invest with the mentality of easy profit, and he considers that buying the currency may bring them a double profit after a few months or weeks. Zuluaga believes that there is a wonderful world behind Bitcoin, and that this currency may mark a difference between the world of today and the next few years, but provided that people better learn the principles of investing in this field, and know that the goal of creating virtual currencies for speculation or earning money easily. Benefits of buying Bitcoin: Bitcoin has become a good alternative for investors and part of their portfolios, a tradable and divisible currency used to conduct international transactions without the need for intermediaries, and has become increasingly attractive in recent years. Zuluaga believes that Bitcoin is a good solution to preserve the value in anticipation of the high rates of inflation of traditional currencies, as "Bitcoin is characterized by deflation, which makes it a guarantee of value in the future." And like anything else, you just have to be wary of those who take advantage of the opportunity to cheat, deceive people and spread deceptive hopes for quick and easy profit, Zuluaga adds. It is noteworthy that it is not yet decided whether Bitcoin is a safe currency or a bubble of luck. At a time when the most famous digital currency witnessed rapid leaps, reinforced by the desire of investors to make quick profits, history also witnessed its sharp collapse in a number of stations.