The world’s economy has seen a considerable change since 2017. The rise of cryptocurrency has presented a great opportunity for one and all, and Bitcoin Circuit wants to help you be a part of that.
At Bitcoin Circuit, the team has developed a homegrown trading platform designed to hopefully get your foot in the Bitcoin trading door as smoothly as possible. The platform’s goal is to facilitate both trading and the learning process that goes along with it. The platform allows you to do all the research and analysis in a more straightforward way, thanks to the homegrown user interface designed to cater to all traders, regardless of your skill level.
Time is of the essence when it comes to Bitcoin investments. Every passing day represents another opportunity for Bitcoin to soar, although, with such a volatile asset, it could also go the other way. Some experts would agree, however, that the age of Bitcoin is very much upon us. Bitcoin has known its ups and downs, for sure, but SOME would agree that the future is going to bring about Bitcoin regulation, with governments and banks using crypto to facilitate money transfers, and fiat currency gradually edged out in favor of the crypto alternative. And as the cryptocurrency leader, Bitcoin may be going to be at the forefront of all these changes.
If you wish to join, It doesn’t take much for you to get started, so if you’re looking to get your foot in the door, a trading platform like Bitcoin Circuit might be the way in.
Bitcoin Circuit is run by Bitcoin enthusiasts with a passion for everything crypto. After Bitcoin rose to prominence, a number of developers began creating Bitcoin trading platforms in an attempt to cash in on the trend, but unfortunately, many lacked the knowledge of how Bitcoin and the market work.
However, this is just one thing that makes the platform different. Another major factor to consider is that Bitcoin Circuit is generally free. You don’t have to pay any signup fees or withdrawal fees, and there are no deposit charges of any kind. With Bitcoin Circuit, you’ll be connected with your partnered broker, though, and it is up to them to decide if they wish to charge a nominal fee for their services.
The team put a heavy emphasis on making sure that the platform was beginner-friendly from the very beginning.
While experts may take advantage of what the platform has on offer, the team presents a much more accessible experience for those with no Bitcoin education whatsoever.
The platform’s UI is straightforward and sleek, neatly organizing all of the charts you need to analyze the data, research the market and devise your trading strategy before you execute a trade, And that is just one of the platform’s many features.
To understand why Bitcoin is so important, It’s time to dive into its history a little bit.
Bitcoin was first developed in 2009 by an alias known as Satoshi Nakamoto. Nobody knows who Satoshi is or whether or not they were an individual or a group.
After its development, Bitcoin didn’t get much attention for eight years or so. It saw a steady rise in price, but only by a few dollars. That is, until 2017.
In 2017, a major trading whale made a massive move into Bitcoin. That started off a chain reaction that saw the price of the coin skyrocketed.
The instant jump in price saw media attention, and that media attention attracted other investors trying to buy and sell the news. Those other investors brought more media attention, and so the snowball continued to grow.
After massive price inflation, Bitcoin crashed back down, but it wasn’t long before it was back on the upswing.
It remained on a promising uptrend until 2020 when the Coronavirus pandemic hit. Like every other market on earth, Bitcoin plummeted and lost a large portion of its value.
However, Bitcoin is unique in that it can recover much quicker than anything else. Investors quickly realized that in the event of a world on lockdown, Bitcoin might be a safer investment.
Unlike stocks in a company, Bitcoin doesn’t run the risk of bankruptcy. When trading all across the globe halted, companies lost profits. The future of many different corporations is uncertain, and investors don’t like that.
Bitcoin also had the advantage of being digital, meaning moving it was a quick and easy process. If borders were closed, then getting access to any gold that you own might be a problem. Bitcoin doesn’t have any of those issues.
These are just some contributing factors to what sped up Bitcoin’s recovery.
Over the rest of 2020, it saw a steady rise up to the end of the year, reaching nearly the same level it was in 2017.
The coming year could be another breakout year for Bitcoin, as some experts believe. There are talks of regulation and adaptation into the mainstream that could mean great things for all cryptocurrencies in the future. Again, it’s important to remember that the coin is volatile, but if you’re looking to get a foot at the door of this exciting digital market, investing in Bitcoin might be the way in.
With all this talk of regulation and Bitcoin value, you’re probably wondering where that actually comes from.
There are several different moving parts that all factor into the value and the price of Bitcoin, but one of the biggest ones is market cap and scarcity.
Bitcoin is a limited resource. It’s not like the dollar, where they can keep printing more and more of it. There is only a certain amount of it in circulation at any given time, and there’s a hard limit on how much of the coin can ever be produced.
One of the most fundamental principles of economics is supply and demand. The less of something there is, the more it’s worth, and the more someone wants something, the more it’s worth.
There’s not all that much Bitcoin, and many want a piece of it, which is why it may have such a high value.
Bitcoin and all the cryptos that have come after it have one very unique aspect to them that can also drive the value up.
Cryptocurrency can be used for the seamless transfer of money across borders with no issues. This might not affect you, but it definitely affects big money corporations that have billions of dollars that need to be settled.
Lastly, the price of Bitcoin is influenced by the actions of whale investors. Whales are individuals with tens of millions of dollars that ply their trade in the Bitcoin market. When they decide to buy, the price goes up. When they decide to sell, the price goes down
There’s nothing you can do to combat this in the short term, but the market can correct itself after a big move.
Bitcoin is entirely digital, so that begs the question of how you can store it. You can’t load Bitcoin into your bank account (yet), and you can’t take it out of an ATM to put in a wallet.
There are two alternative options that you have for storing your cryptocurrency. Each of these methods has different advantages from one another, but many traders use a mix of two or more of them for security reasons.
The first method for Bitcoin storage is a cold wallet or a ledger. This is a hard device that you can use to store Bitcoin. It’s completely disconnected from the internet and any kind of server, making it the prime choice for those looking to keep their crypto safe.
Wallets come in all shapes and sizes and from a variety of different manufacturers. Ledger is the prime wallet company, but there are other notable suppliers out there.
Just be careful when you do decide to buy a ledger. Don’t buy from an unrecognized brand, and only buy through official channels and from the company’s official listing.
Don’t buy one off of eBay or anywhere else that gives someone a chance to interact with the ledger before you do. Buying like this has been known to produce ledgers with viruses preinstalled on them, causing people to lose all of their Bitcoin.
Aside from a ledger, you can also house your Bitcoin on a hot wallet. This is the choice of traders who prefer to short their positions rather than hold Bitcoin for the years to come.
A hot wallet is constantly connected to the internet and typically takes the form of some kind of app. Rather than having to buy a device, you just download the app onto your phone, and you’re good to go.
Needless to say, this method, while more convenient, does come with a heightened level of security risks.
As such, the same caution that you should exercise with a ledger applies here. Don’t download an app that doesn’t seem legitimate, and do some research before you download any kind of app at all.
Ever since Bitcoin Circuit was launched, the team had a plethora of questions from potential investors of all skill levels. You may find the answers to these questions here in a short FAQs section.
When traders first get into Bitcoin, they tend to get intimidated by the price. They look at one Bitcoin being worth upwards of $20,000, and they wonder how they are ever meant to start trading that.
In reality, though, you are able to buy and trade parts of Bitcoin, not an entire coin. This isn’t too dissimilar to how you have the various cents that make up a dollar.
These decimal units are called Satoshi, and there are a lot of them. So much so that you can actually only buy a few dollars worth of Bitcoin if you want.
On Bitcoin Circuit, there is a minimum deposit limit of $250. This is just enough to get your trading started while not being too high to prevent beginner traders from getting started.
The answer is yes. The platform was designed specifically for inexperienced traders, and it may be a great place to learn how to trade as it lays down all the foundations you need to begin and provides you with some important features to help you along.
However, make sure not to invest more money than you can afford to lose, and if you want to try and see favorable results, it is highly advisable to dedicate time and effort to studying the market and analyzing trends and fluctuations. Trading involves continuous learning as well as lots of practice and learning from the mistakes that you are bound to make.
The point you need to look for in your life to identify when you’re ready to trade is disposable income. Don’t buy into the hype of Bitcoin being a get-rich-quick scheme. It has taken years to get to this point, and while the immediate future may seem bright, there is a long way to go.
If you don’t have any extra income to spare and you’re struggling paycheck to paycheck, don’t invest any of your money into Bitcoin.