Bitcoin is a popular topic nowadays and since its inception it has had drastic ups and downs. Navigating this complex and exciting subject requires some fundamental training. Luckily we have a dedicated entry-level Bitcoin course to help you get started.
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You’ve no doubt heard the hype about Bitcoin. It took the world by storm when it was released in 2009 and has since experienced dramatic highs and lows. Everyone is talking about cryptocurrencies and there’s much debate over whether Bitcoin and its cryptocurrency siblings will survive the next decade. We offer the best bitcoin trading course online for you to learn the tricks of the trade and become a top trader in Bitcoin.
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Learn how to trade Bitcoin when you sign up for our entry-level cryptocurrency trading course on our website today.
Bitcoin was created to decentralise the control of money; meaning no central government or banking entity should have control over your financial investments and payment methods.
Cryptocurrencies remove the power from central authorities and place it in your hands. Any person based anywhere in the world can send and receive Bitcoin without permission from a bank, corporation or government entity.
The transactions are more or less instantaneous and the transaction fees are relatively low. This presents a serious challenge not only to governing bodies responsible for foreign exchange control but also to intermediary banking suppliers such as PayPal, Western Union and MoneyGram.
New Bitcoins are created by a highly competitive process often called Bitcoin mining. This is where individuals process transactions and secure the network using specialised hardware and are rewarded with newly-created Bitcoins.
Bitcoin miners play a very important role; they secure the network to make it impossible to attack, and process Bitcoin transactions. They are rewarded for their ‘proof of work’ with newly-released Bitcoins.
Bitcoin transactions are processed by solving complex computational problems which adds individual blocks of information to a chain of transactions. This creates what is known as a blockchain.
Bitcoin is created by harnessing blockchain technology. It’s an ingenious technology that allows information to pass from A to B in a fully automated and controlled manner.
A blockchain is a chain of blocks that contains information. Once information is deployed to a block, it’s virtually impossible to change it. A blockchain is one form of distributed ledger.
The latter uses independent nodes (computers) to record, share and sync transactions to their respective electronic ledgers. This is different to a traditional ledger where the data is centralised.
Information can only be stored in a distributed ledger when all parties have reached a consensus that the information is valid. The information files in a distributed ledger are timestamped and given a unique cryptographic signature.
This is probably one of the most revolutionary benefits (or disadvantages) of Bitcoin. Nobody owns or controls the Bitcoin network. It’s controlled by all Bitcoin users around the world because it functions as a consensus network.
It’s the first decentralised peer-to-peer payment network that is powered by its users with no central banking authority or financial middlemen. Bitcoin can only work if there is complete consensus among all users.
In the consensus network, one party initiates the transaction process by creating a block which in turn is verified by hundreds of thousands of nodes distributed around the worldwide web.
The verified block is then added to a chain which is stored on the net. This creates a unique record with a unique history; making it virtually impossible to falsify information.
To trade in Bitcoin, you follow a simple process where you register an account via a mobile app and once verified, you obtain a unique Bitcoin address and Bitcoin wallet. Once you’ve deposited fiat money into your account, you can immediately start trading Bitcoin.
A Bitcoin wallet is an electronic programme that stores private keys. These keys are essential because you need them to access the Bitcoin blockchain.
You have the choice of a non-custodial wallet which means the exchange doesn’t have custody of your Bitcoins; or a custodial wallet where the exchange retains full control of your Bitcoins. Bitcoin wallets are available in different forms but they will either be what they call a hot wallet or a cold wallet.
The main difference is a hot wallet remains connected to the Internet while a cold wallet is kept offline. A hot wallet is convenient for transacting as it’s always online but it’s vulnerable to attack. Most Bitcoin traders use a combination of hot and cold wallets for ease of access and safety reasons.
The big question that is raging at the moment is whether Bitcoin and other cryptocurrencies will survive the next decade. There is no doubt that the world is ready for a decentralised monetary function but the dramatic highs and lows of Bitcoin’s price have made many people wary.
What you need to bear in mind is that digital currency is in its infancy and has a long way to go before reaching the maturity of traditional fiat markets.
It’s expected that Bitcoins extreme volatility and liquidity will level out and settle into a wide price range, taking on the characteristics of traditional commodity markets that are subject to faith (or lack thereof) in governing entities. Contact us today to find out more about our beginner bitcoin trading course.
Also known as digital assets, they are virtual currencies based on the security system of cryptography, making them very safe to hold and almost impossible to fake.
The major cryptocurrencies are Litecoin,(LTC), Ethereum (ETH), Ripple (XRP), Stellar Lumen (XLM) and last but not least Bitcoin (BTC) which is unarguably the most commonly used of the crypto currencies.
These assets are already becoming a global phenomenon that has intrigued the imagination of many people. You should learn about them, too.
Just like the traditional arts of buying and selling, you can easily trade in cryptocurrencies. All you need to do is to create an account in a cryptocurrency exchange and buy the cryptocurrencies of your choice. You can simply do this by just placing your order to buy or sell.
Yes, many people have earned significant gains and also suffered huge losses. Always seek the advice of a regulated Bitcoin Trading Specialist before making any investments. Never trade with money you cannot afford to lose.
Like many other investment options is it imperative to consider many factors after conducting proper research, analysis and obtained advice from a regulated Bitcoin Trader and or FSCA regulated Financial Advisor.
You need to create an account in a cryptocurrency exchange and buy the cryptocurrencies of your choice. You can simply do this by just placing your order to buy or sell. Open a real trading account with our preferred regulated FSCA Broker which allows you to create dynamic sells and buy order for automating the process of trading.
DISCLAIMER & NOTICE: The answers are for educational purposes only and not financial- and or investment advice. Trading can be very risky. Never trade with money you cannot afford to lose. Always seek the advice of our preferred regulated FSCA Broker and or a regulated FSCA Financial Advisor.
[i] Disclaimer: This information is applicable at the time of publishing.