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FAQ ABOUT Bitcoin
- Bitcoin is the first globally successful name in the crypto-world both as a cryptocurrency and a payment system. It was launched in 2009 by a mysterious group under an alias known as ‘Satoshi Nakamoto’.
- Bitcoin in specific, or cryptocurrency in general, is broadly defined as an encrypted medium of exchange, and in the form of digital tokens, or ‘coins’. Unlike traditional currencies, the operations and the values of Bitcoin and other coins are not managed by a single entity. Instead, cryptocurrencies are distributed to decentralized networks powered by blockchain technology, acting as a big ledger that records every transaction.
- Ever since their initiation, Bitcoin and other cryptocurrencies have been through tough times, even notoriety and infamy, before finally becoming a phenomenon and making a huge impact on the world’s economy in late 2016. Due to such reasons, Learning to trade Bitcoin is to catch up with the trend and grant yourself attractive profitable opportunities.
As Bitcoin and cryptocurrencies are booming all over the world, requests for the following positions have also significantly grown:
- Finance Analyst: financial analysts are experts that can maintain the trading portfolios of their customers by various means of consultation: investment advising, trading strategies suggestion, and risk management.
- Artificial Intelligence Engineer: a qualified AI engineer excels in developing and setting up automation, including trading bots and cybersecurity, by utilizing AI with complex algorithms.
- Research Analyst: research analysts must have a firm grasp of every aspect of the market, such as the development and movement of the market, to convey insightful information and educate their customers.
- Technical Writer: proficient technical writers know what is attractive and desired by their audience and can deliver them persuasively to attract more investors to their projects.
Bitcoin is a must-know topic and worth learning if you are:
- A traditional trader who is targeting Bitcoin to be your first attempt in the crypto-market
- An eager student who is trying to expand their knowledge of cryptocurrencies
- An absolute beginner who just gets into the crypto-world with an ambition for profits
You may also find the following topics worth spending time on if you are into Bitcoin:
- A solid understanding of basic principles of traditional economics and cryptonomics
- Bitcoin and its differences, advantages, and disadvantages when compared to other cryptocurrencies
- Getting insights and developing strategies when trading Bitcoin and other cryptocurrencies
- Understanding the fundamentals and essentials of basic economic concepts and principles
- A daily routine of observing and keeping up with the crypto-market
- Well preparation to take on the subject that continuously comes up with the new things every day
- A background or a degree in economics/ computer science is a plus, but not mandatory
- Bitcoin is only a small part of a bigger picture – cryptocurrencies. To fully comprehend these complex subjects requires a solid understanding of both economics and information technology, which proves a tough obstacle to anyone who has not taken any crypto-related courses before.
- Learning to trade Bitcoin is demanding as it needs you to have good knowledge about not only Bitcoin itself but the trading process as well. Fresh starters should consider spending more time for thorough preparation before getting their hands on actual trading, whereas experienced traders should initiate their first Bitcoin trades effortlessly.
- If you are a complete beginner, you can easily find all-in-one courses about cryptocurrencies and Bitcoin in other sections of this FAQ.