Is Bitcoin Safe To Invest In

What is Bitcoin?

Bitcoin is a fully digital currency, payment system, and decentralized reconciliation network. On the system, users can make direct transfers to each other without intermediaries. Transactions made are recorded in a decentralized distributed recording and reconciliation system. This registration and reconciliation system is called Blockchain. The value unit transferred on the Bitcoin network is called bitcoin (BTC).

Who is the owner and center of Bitcoin?

Nobody or institution has a Bitcoin network, as no one has email technology. Representation, franchise etc. there is no formation. Bitcoin is not a company or institution. Bitcoin is an open technology and everyone can participate and use it without any blocking.

Where is the virtual currency stored?

When you buy Bitcoin, it stays in a virtual wallet that is not tied to a bank. The virtual currency wallet has an identification number. The money in your wallet can be viewed by anyone, but it is not known who. Each wallet has a password and secret key. When using your own Bitcoin wallet, you are responsible for protecting your wallet passwords and secret keys. When you forget or lose these passwords, you cannot access your money.

Who sets the price?

The value of Bitcoin is determined by the supply-demand relationship. The information of the transactions made on the trading platforms matching the orders of the buyers and sellers is published. Bitcoin price is created independently in every trading platform. Arbitrage transactions made by the users ensure that the price converges in the markets.

Is bitcoin good should I invest?

Bitcoin prices are changing very fast compared to many common investment tools. This situation creates opportunities as well as risks. Intermediary institutions advise to be cautious in Bitcoin trading transactions and investments.

Is bitcoin safe to invest?

it is open source and can be observed by anyone. The past problems with Bitcoin's basic technology, which have been controlled by thousands of independent security experts, have been quickly resolved. But Bitcoin and other virtual currencies are still evolving. Users should be careful when working with third party Bitcoin service providers for purchase / sale, investment or transfer. To date, many service providers have victimized their users with theft, unauthorized access to systems and direct fraud.

Introduction to the virtual currency step by step

If you are in Turkey and use Bitcoin the following steps you use.

Step 1: Before you can buy virtual money, you need to use an intermediary institution that will convert the money in your Turkish Lira account to Bitcoin. 4 different institutions engaged in this process is taking place in Turkey. These are BitKapital . com , Paribu . com , Koinim . com and  BTCTurk . com .

Step 2: You specify the amount you wish to deposit with the brokerage firm you have selected from the TL transactions menu.

Step 3: Intermediary institutions give you a transaction statement like an IBAN and 'ZXCVBN'. You enter this description as a transaction description when processing transactions from your bank.

Step 4: After your money is taken into account, you can buy Bitcoin from the buy-sell page.