What is Bitcoin?
Bitcoin is the first digital asset with legitimate scarcity. This means that it cannot be created or copied indefinitely, unlike the files on your computer. Best of all, there will only be approximately 21 million units in history.
In addition, Bitcoin has all the characteristics of a currency: it is scarce, easy to port, transfer and fractionate. For this reason, many people define it as a digital currency such as Dollar, Pound or Real.
It is possible to transfer Bitcoins directly to other people, without the need for a bank to mediate the transaction. Transfers use encryption to increase privacy and can be done 24 hours a day, without border restrictions and interference from companies, people or governments.
Despite having all the characteristics of being a currency, we believe that Bitcoin is still in the digital commodity phase, a path prior to a money system.
How does bitcoin work?
The system depends on a network known as Blockchain to function. This network prevents double spending (counterfeiting) through the public record of all transactions carried out. Everyone can participate and verify the system, making it decentralized, that is, independent of a group of people, companies, governments or central bank.
Participants check online transactions and receive Bitcoins for this, ensuring the sustainability of the system. A set of transactions is known as a block and each block is numbered in an interdependent sequence, forming a chain.
Real-time bitcoin quote
What is the price of Bitcoin today?
You can find more information about bitcoin's moment value, price history, market trend and much more on our page Bitcoin value. Check it out!
Investment in Bitcoin
People can convert their currencies into Bitcoins and use the network to transfer money around the world, safely, quickly and cheaply. For this reason, many people believe that it is a digital currency, which should also be used as a means of payment.
Here at Nox, we believe in it as a way to diversify your investments to obtain better returns in the future. Whoever buys Bitcoin is getting a protection asset with a shortage similar to Gold, unrelated to governments and financial markets.
These characteristics make it an interesting option in any investment portfolio, mainly in the function of protection against financial or political crises.
Read more about your role in an investment portfolio:
How to make money with Bitcoin?
Bitcoin does not earn interest, dividends or any type of remuneration. So, avoid companies that offer fixed profitability per week or month.
- You can make money from the valuation;
- Make trade operations and arbitration;
- Or hiring the structured operations from Nox.
The most winning strategy to date has been average price, which consists of weekly or monthly Bitcoin purchases, with a long-term vision. Is recommended maximum exposure of 5% of its capital for it to work.
How to buy and sell Bitcoin?
There are two ways to purchase Bitcoins: you can buy on websites similar to stock exchanges or mining. Mining has become an industrial and highly costly activity.
Buying the asset directly on specialized sites like Nox Bitcoin is the best way to start participating in this market. You will be paying the best quote and the lowest rates.
Is it safe to invest in Bitcoin?
The network has been online for 10 years without suffering a successful attack. Hacking the network costly is a virtually impossible task.
It would take a single person, or group, to control most computers on the network and falsify the entire transaction log in just 10 minutes. The process is expensive and the invaders earn much more by mining the coin.
Unfortunately, hackers focus on the weakest link: users. Many people do not know how to keep their Bitcoins safe, or leave on unreliable sites, making life easier for attackers. Bitcoin is safe, as long as it is properly stored, in a trusted wallet.
Looking at the finance side, Bitcoin is a high-risk investment. If you want to invest, start with little money, an amount that will not make a difference to you in case of financial loss. Make weekly purchases always thinking about the long term.