Post
Topic
Board Bitcoin Discussion
Re: What you need to understand about Bitcoin
by
Nothingtodo
on 09/07/2024, 23:23:01 UTC
Before getting started with Bitcoin, there are few things you actually need to understand. First you need to know that the Bitcoin ecosystem allows you to exchange and transact money in so many different ways than you normally do. so before using Bitcoin for any serious transaction, you should be well knowledgeable about how the Bitcoin system works and be fully aware of the problems associated with the fiat system.

Also note the following
1. Note that Bitcoin transaction are irreversible. Therefore one need to be extra careful while doing transaction.
2. The price of Bitcoin is still volatile i.e it does not have a fix price for it market price.
3. It requires your own effort to protect your Bitcoin.
People who invest in Bitcoin must be aware of all the things you provide or they wouldn't have invested in Bitcoin. Yes, but sometimes the issue of Bitcoin wallet hacking comes up, so before investing in Bitcoin, one must gain knowledge about wallet security. Yes, but before investing you should not invest at a fixed price because in this case you have to invest by adopting the DCA method.