How To Get Rich With Bitcoin Even If You Have No Clue About Technology

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The best thing about technology is that it’s been made to make our lives easier and more productive, but so many people around the world still don’t understand it at all! That doesn’t mean they can’t still benefit from it, though — and the benefits are even greater when you know what you’re doing, something most of us have yet to learn. Take this article as your guide on how to use Bitcoin to get rich, no matter your technological prowess or lack thereof!

Who created it?

A mysterious internet-based person (or persons) using the name Satoshi Nakamoto proposed bitcoin, which was an electronic payment system based on mathematical proof. The idea was to produce a currency independent of any central authority, transferable electronically, more or less instantly, with very low transaction fees. When did it launch?: January 3rd 2009 at 18:15:05 GMT -5

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What are the benefits?

Cryptocurrencies have taken off in a major way, causing quite a stir on Wall Street. Everyone wants to know how they can get involved, but many people are daunted by all of the technological requirements. Don’t fret, though; you don’t need to be a coding whiz to cash in on blockchain’s revolutionary technology!

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Where do I buy them?

People in over 100 countries trade and use bitcoins. Where you live will determine how easy it is to exchange your money for bitcoins. Use a service like Coinbase or Bitpanda to find a Bitcoin exchange in your country. From there, you can purchase Bitcoins using a credit card or bank transfer.

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Should I invest in Ethereum?

2017 is proving to be a great year for Ethereum (ETH), an open-source platform that allows people to run decentralized applications. In May, it rose from $72 to $230 before settling down in September at around $160 (as of November 9, 2017). This means that if you had invested just $1,000 in ETH when it was valued at $72 per token, you would have turned it into $15,000. That’s more than 12x return on investment!

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Where can I spend my cryptocurrency?

The easiest place to spend your cryptocurrency is an online exchange, but you’ll likely want to check with your local grocery store or restaurant for other options. Many businesses will only accept their local currency, and if you try to use Bitcoin at a small business that doesn’t accept it yet, they may have no idea what you’re talking about.

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Common Myths about Cryptocurrency

There are some major myths about cryptocurrency floating around out there. The purpose of busting these myths is to make it easier for you to understand how cryptocurrency works and how you can use it in your life (to get rich, if nothing else). Let’s cover a few of them now.

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Is it too late to get rich with cryptocurrency?

The Winklevoss twins claimed in 2013 that they owned roughly 1% of all bitcoin. They became famous as early investors in Facebook, although their claims to be its actual founders were later disputed by Mark Zuckerberg and other members of Facebook’s original team. As of January 2018, bitcoin is trading at $15,256 per coin, down from a peak above $19,000 last December — but still an impressive return on investment for those who bought in years ago.

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Glossary of terms.

Pre-mining, Initial coin offering (ICO), blockchain. : The term pre-mining refers to a process of creating digital currency through a set number of new transactions at time of creation. Pre-mining is done by miners or creators instead of using a proof-of-work system or relying on donations or ICOs. Since new units enter into circulation at creation, not mining, there are no block rewards and thus no blockchain to record transactions.

(***Affiliate link Disclaimer***This contains affiliate links to products that you may find useful. If you click these links and you decide to purchase any of the products I will make a commission for the sale of that product)