Bitcoin how to get started?

Once again asking yourself if Bitcoin and all these cryptocurrencies are worth investing in? The price is rising inexorably. Remember the first time you heard about digital gold? It was quite a while ago, bitcoin only cost $1000....

In a few years, thousands of new projects have appeared on the market, and Bitcoin? Its price has risen to a cosmic $65,000! What is bitcoin? How to buy it and how to start investing? Or is it better to invest in derivatives or gold?

Basics on Bitcoin - what is Bitcoin, Blockchain and Satoshi?

Bitcoin is now 97 years old... but only in dog years.

It's only been 12 years in human years for Bitcoin, but we're talking about cryptocurrencies - the financial revolution of the 21st century - time is running out here! A gigantic community has formed around cryptocurrencies, with its own history and unique language. Buy The Dip and Hodl! (Buy the Dip and Hold).

What is bitcoin?

The first of the cryptocurrencies, the cornerstone of the financial revolution, but also... the gold of our time. Bitcoin is young, rebellious and feisty, having emerged in the internet age as a manifestation of distrust in the centralised financial system.

It is full of contradictions - its price volatility attracts speculators - but it is juxtaposed with gold and emphasises its ability to store purchasing power over time.

Bitcoin was created as a medium of exchange in 2009, promised lower transaction costs and a system devoid of governments, banks or any superior authority. How do the promises look 12 years later? On September 14, 2021, a user transferred $2 billion while paying just $0.78 in commissions! Bitcoin transactions are the best way to make huge transfers and for those with global reach.

But what is bitcoin?

Have you ever seen coins with the logo of BTC, ETH or LTC? They are often equated with cryptocurrencies, but these have no physical form. They are computer programs, and the most famous of these, Bitcoin, was written in the C++ programming language.

Bitcoin is a medium of exchange that operates on blockchain technology - Blockchain. All information about the transactions made is stored in blocks, and when one is filled - another is created.

Filling a block with information and adding it to the chain requires computing power, which is provided by miners using excavators, or specialised equipment. In return for the computing power provided, miners receive a block reward. However, only the miner who solves the puzzle first gets it. For this reason the miners gather in larger groups - mining pools - where the chance of solving the puzzle quickly and collecting the block reward increases.

Block rewards are not the only means miners receive - they also receive funds for confirming transactions, i.e. for confirming that the person executing the transaction actually has the funds they are spending.

Who was Satoshi Nakamoto?

The giant, whose capitalisation accounts for almost half of the cryptocurrency market, still hides many secrets from us. The biggest of these is the identity of Bitcoin's creator Satoshi Nakamoto, which has not yet been established. We don't know too many details - we don't know if satoshi refers to one person or a whole group.

What we do know can be found on the BitcoinTalk forum, which was created by... Satoshi Nakamoto. You can still read over 500 posts by the creator of Bitcoin, which are a huge treat for idealists of the technology. Satoshi disappeared on April 23, 2011, saying goodbye to one of his developers. Hearing about him has been lost.

How do I buy Bitcoins?

How to start investing in BTC? Below we've answered all the questions that beginner investors most often ask. With Egera, investing in cryptocurrencies is easier than shopping at the neighborhood shop - and it's also safe and easy to understand every step of the way.

Buy Bitcoin for PLN, EUR, Krona or national currencies. Not sure how to do it? We will help - we will tell you how to deposit money, buy cryptocurrencies and how to secure funds on an external wallet. Become an investor with Egera!

Superior speed and convenience - Kantor Bitcoin

Instant purchase of cryptocurrencies? In an exchange office it is possible. Unlike a cryptocurrency exchange, in an exchange office you exchange with an operator - so you never wait for an exchange - this one is done in one click.

The operator of a cryptocurrency exchange earns money on the spread, i.e. the minimum difference between the purchase and sale price of a cryptocurrency. On the cryptocurrency market, the difference is small, most often oscillating around 2-5%, for investors this is a good price for the fastest way to exchange.

Bitcoin exchange - advantages and disadvantages

Pros:
  1. Instant cryptocurrency exchange;
  2. Kantor does not require experience in investing.
Disadvantages:
  1. Higher commission than on the stock exchange;
  2. The platforms offer fewer trading pairs in the exchange than on the exchanges.

How to buy Bitcoin at Kantor? Step by step

  1. Register your account on a platform with a cryptocurrency exchange (Egera, for example);
  2. Verify identity;
  3. Fund your account on the platform;
  4. Enter the amount you wish to exchange at the exchange office;
  5. Click the replace button!

Only 5 steps away from buying cryptocurrencies, what else are you waiting for - do it today - fund your cryptocurrency wallet on Egera!

Bitcoin from a cryptocurrency exchange?

A cryptocurrency exchange requires a little more experience and patience than a cryptocurrency exchange - you won't find a set price and instant exchange - on an exchange you trade with other users.

Experienced investors love cryptocurrency exchanges - the multitude of options, tools, low commissions and wealth of trading pairs. However, this wide range of cryptocurrency exchanges is also a trap that is easy to fall into and lose your savings.

On the other hand, the Egera cryptocurrency exchange provides trading automation tools that help traders save time and sanity. Without setting up these tools, you will expose yourself to losses and sleepless nights - after buying take profit, stop loss, restful sleep.

What are the advantages and disadvantages of a cryptocurrency exchange?

Pros:
  1. Low commission;
  2. Trading tools;
  3. Own listing price.
Disadvantages:
  1. Long lead times possible;
  2. It requires basic knowledge and experience.

How to buy bitcoin on the exchange? Step by step

  1. Create an account on the cryptocurrency exchange, at this stage you do not have to declare yet whether it will be a company or private account - you will do it at the moment of verification. The whole process is instant and will take no more than 3 minutes, after which you will unlock the full capabilities of an account on Egera;
  2. Deposit funds into the Egera exchange - you can do this by card, Blik or instant transfers;
  3. Create an order on the exchange - specify the price and quantity, accept and wait for your offer to meet the offer of another user. The cryptocurrency market is open for you!

How to invest in Bitcoin (BTC)?

Bitcoin investors vary. Some believe that Bitcoin will have a much higher price than it does now, and so they periodically buy BTC, averaging the price at the end. These types of investors don't pay attention to the price at any one time - it's the average that counts, after all. More often than not, they hoard, meaning they hold their Bitcoins, waiting for a rise to their dream price.

The opposite of this type of trader are traders who, unlike common traders, do not buy on the upside and sell on the downside. Their strategy is based on the frequency of exchanges, and the levels of selling and buying prices.

Before you buy bitcoin!

Buying under the influence of emotion is not always the best idea. You need a plan and knowledge. Get as much information as you can about the Bitcoin network and Bitcoin itself or any other currency you are investing in, only with this knowledge you will not lose - but gain. Where to start?

Plan your investment strategy

Determine how much and what you will invest in. Estimate how much you want to earn from Bitcoin or another cryptocurrency - when will you sell them? What losses can you afford to take? What will your selling strategy be, at what levels will you start getting rid of assets?

Answer these questions for yourself, ask more. Plan your strategy in detail and move into action.

What does the sales strategy look like?

Instead of a one-off exit, plan to realise profits based on the gains achieved in your portfolio. Set thresholds - Bitcoin price up 100%? Sell 10%. The uptrend continues and Bitcoin has risen a total of 200%? Sell out the remaining 20%. Determine how much you want to sell off at specific times. This is a much safer strategy than trying to sell 100% of a stock at a peak - because how will you know it's a peak?

How about digging Bitcoin?

The complicated process of bitcoin digging is also a way to get into possession of this cryptocurrency. Unfortunately - digging is no longer possible on personal computers - the bitcoin network requires huge computing power, which is usually provided by dedicated devices, commonly called diggers.

The most popular for digging Bitcoin are dedicated ASIC diggers, for example in the form of Antminer. However, such a device is a sizable investment, consuming tens of thousands of dollars and requiring a long time for a return on investment.

How long?

The return on such expensive equipment can take up to several dozen months!

Create a Bitcoin wallet

How to store cryptocurrencies? An exchange, maybe a cryptocurrency exchange?

Neither of these two options guarantees security. A simple online wallet offers more security than an exchange account with two-step verification.

What types of wallets are there to choose from?

  • Cold Wallet - Offline Wallet;
  • Hot Wallet - Online Wallet;

These two types fall into further categories, namely:

  • Online Wallet (Hot);
  • Desktop Wallet (Hot/Cold);
  • Mobile Wallet (Hot);
  • Hardware Wallet (Cold);
  • And even a paper wallet (Cold)!

But what makes wallets different?

A cold wallet - like a hardware wallet - remains offline - its connection to the network is optional and completely dependent on the will of its user. A hot wallet is an online wallet - always connected to the network.

Wallet only for bitcoin or also for other cryptocurrencies?

A dedicated wallet for Bitcoin that belongs to the family of full wallets is Bitcoin Core. Unfortunately, due to its limited purpose, it is not the most common choice of investors. Those much more likely to choose cold hardware wallets, which guarantee the highest level of security, and the ability to store many different cryptocurrencies.

How to buy bitcoin without verification - is it still possible?

With anti-terrorism and anti-money laundering legislation, it is not possible to buy cryptocurrencies within the European Union without identity verification. However, verification does not mean that buying Bitcoin has been made difficult - on the contrary, at Egera we have made sure that the entire procedure - from registration, to verification, to purchase - is as pleasant as possible!

Bitcoin trading, Bitcoin payments, and buying and selling are completely legal, so you can join the Egera platform users right now!

Bitcoin versus counterfeiters - which to choose, the original or an ETF?

Experienced investors with an extensive portfolio don't like to make their lives difficult. Why should they bother with extra procedures, registrations, verifications if they can invest in a paper Bitcoin that mimics the price of the original one?

ETFs are more convenient for investors than buying Bitcoin, but the paper equivalent will never offer as many options as the real thing. BTC is also a means of payment, and a means by which you pay for other cryptocurrencies. Want to buy Bitcoin? Buy the real thing!

Bitcoin or gold? The best value stock of the last year!

Bitcoin was created as a revolution of payment systems. However, it has changed its purpose over time. After 12 years of operation, there are increasing voices comparing BTC to gold, and even proving the superiority of digital gold in storing purchasing power over time. Bitcoin's price is becoming less dynamic as both investors and the asset mature.

The biggest proponent of buying bitcoin to store purchasing power is MicroStrategy CEO Michael J. Saylor - the bitcoin bull of 2021.

Bitcoin on a cryptocurrency exchange versus other projects

There are thousands of projects in the world of cryptocurrencies, over 10000 thousand to be exact. Each of them has its own vision of the world and the unique problems it solves. However, not every one of these projects has the potential to reach the price of Bitcoin. According to cryptocurrency market experts, Ethereum is a project that has the potential to catch up to Bitcoin - but does it really have that chance?

There is no universal yardstick of technological value or glass sphere to cast such statements as certainties. The final decision always belongs to you - the investor. Therefore, always do thorough and independent research before investing. Answer the example question - will Ethereum overtake Bitcoin?

Given the technology potential and adoption, Ethereum has the potential to achieve a similar capitalisation, but will it achieve the same price per token as Bitcoin?

Cryptocurrencies are a beautiful world. It promises a technological revolution across many sectors, and it started with a desire to replace banking services! Join it today buy Bitcoins directly on the exchange - buy them on Egera!

Start your trading journey right here!

...or just keep calculating prices

Trade

Table of Contents