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    How to Buy and Invest in Bitcoin, A Step-by-Step Guide for Beginners: Get started fast with real examples and experiences
    How to Buy and Invest in Bitcoin, A Step-by-Step Guide for Beginners: Get started fast with real examples and experiences
    How to Buy and Invest in Bitcoin, A Step-by-Step Guide for Beginners: Get started fast with real examples and experiences
    Ebook95 pages53 minutes

    How to Buy and Invest in Bitcoin, A Step-by-Step Guide for Beginners: Get started fast with real examples and experiences

    By Kyle Watson

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    About this ebook

    There has been a lot of news and speculation about Bitcoin. Some people are making millions on this strange new currency! However, for many of us, it is unclear how Bitcoin works or how to get involved, safely. This short e-book will give you a step-by-step guide on how to get in on the action so that you don't miss out on the next big thing.
    LanguageEnglish
    PublisherBookBaby
    Release dateFeb 20, 2014
    ISBN9781483521060
    How to Buy and Invest in Bitcoin, A Step-by-Step Guide for Beginners: Get started fast with real examples and experiences

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    Book preview

    How to Buy and Invest in Bitcoin, A Step-by-Step Guide for Beginners - Kyle Watson

    Introduction

    There has been a lot of news and speculation about Bitcoin. Some people are making millions on this strange new currency. However, for many of us, it is unclear how Bitcoin works. This short e-book will give you a step-by-step guide on how to get in on the action. I’m not a financial advisor and I’m not a psychic. I cannot and do not guarantee that Bitcoin will be profitable, but in my experience it has been. I am writing about what I know about Bitcoin in order to help people make money through Bitcoin investing. This e-book is for people that are new to Bitcoin and want the fastest route to get started with Bitcoin.

    When I first got into Bitcoin, I was just watching it for a few months... I was making sure it was real and trying to weigh the risks. When I took the plunge with a modest amount of money, I made 300% in just over a month! Many people will say that the Bitcoin boom is over or it’s a bubble, but I don’t think so. I think we will cycle through many bubbles over the next few years as this currency becomes understood, used, and more widely accepted. I think we are at the beginning of a new era of digital currency, just like the onset of the Internet was in the 1990s.

    After telling a few friends about my success, they asked to get involved and I started helping. I realized then that there are lots of people out there can benefit from the same type of help, so I wrote this e-book.

    This e-book does not advise on whether or not Bitcoin is a good investment. I assume you’re interested enough to give it a whirl since you bought this e-book. As a speculative concept, Bitcoin is both exciting and volatile. While there is potential to make a lot of money in the Bitcoin market, there is equal potential to lose a lot of money. I advise starting out in Bitcoin with a small amount of money that you can afford to lose. The same way you would treat a speculative stock or commodity purchase.

    Of course, we are doing this to make money and there is a lot of money that can be made in Bitcoin, so let’s get started!

    Now, if you want to learn about Bitcoin, which I suggest you do, keep going, but if you’re very eager to start right now, you can jump to the Basic, Practical Advice before you get started sub-section of the Bitcoin Security Model section.

    What is Bitcoin?

    There are dozens of websites out there with technical details on the implementation of Bitcoin. This introduction is for those who don’t know much about what Bitcoins are, and what they are not.

    Bitcoin is digital currency. It is also referred to as BTC when used in transactions. I’d like to begin by de-mystifying Bitcoin a bit. Think about your own money. You go to a bank with paper money, deposit it at the counter, and then it shows up as digital bits in your online banking. You may decide to send money through an Internet service via email with a system like PayPal that connects to your bank account to pull some of those digital bits and send them to someone else. From a practical use perspective, using Bitcoin is not much different than using PayPal. So then what is the difference?

    There are two fundamental differences between Bitcoin and any other normal currency. The first is that a central government authority does not back Bitcoin. Without a central regulatory body controlling valuation, interest, or inflation, the Bitcoin market freely moves with the will of the people who use it. The implications here are very interesting to ponder... Consider the relationship of Bitcoin to other currency fluctuations, wars, natural disasters, or even regional holidays. Bitcoin is global in scope and even though there are more than 1000% cost of living differences in some of the places that are popular in the Bitcoin market, the value of the Bitcoin is not regionally dependent.

    So then who owns Bitcoin? Bitcoin is open-source, which means that it is owed in the public domain and not controlled by a corporation

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