Post
Topic
Board Bitcoin Discussion
Re: What you need to understand about Bitcoin
by
Wakate
on 11/07/2024, 23:12:03 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.
I think I am still very delighted seeing newbies trying to educate us on some certain things we need to know as an holder. There are so many people thaya know the rules but they are not utilizing it at all. We might know what to do at a particular time when the price if Bitcoin is either going up or going down to help us stay in the business without any losses. The price of Bitcoin is quite volatile and we need to know so we don't have to end up thinking the market would always come to when we bought and continue the bull market. If we want to make money from the crypto market, we need to be an holder.