How Do I Start A Bitcoin Business
In the internet age where information comes and changes quickly, anyone and anywhere someone can become a successful person.
Many jobs are only through internet access which has been proven to generate income that can even exceed office workers.
The internet is phenomenal, therefore many people are starting to look at an internet business, one of them is the bitcoin business.
For those of you who have been long and diligent looking at various businesses on the internet, maybe bitcoin is no stranger.
However, for those of you who have not or now want to try an internet business, then bitcoin can be one of the options.
Start A Bitcoin Business
For those who don’t know about bitcoin, bitcoin is a virtual (electronic) currency that can be used by anyone in the world. Bitcoin was first discovered and made in 2009 by Satoshi Nakamoto (still a matter of debate).
As a currency, bitcoin functions as an online payment tool. Judging from its function, bitcoin is similar to a credit card but bitcoin is not bound by regulations from any country so the administrative costs of transaction activities are very small.
From the function of bitcoin, it is similar to a credit card that can make it easier for us to carry out international online trading transactions.
But in terms of form, bitcoin is different from credit cards (which convert from one currency to another currency), bitcoin is just a file which contains secret codes that are created in a super-sophisticated way so it is not easy to be imitated or falsified.
There are so many advantages to using bitcoin that bitcoin is now a very popular business. To be clear, here are some advantages of using bitcoin:
In contrast to conventional currencies that are prone to counterfeiting, the cryptographic rules applied to bitcoin make bitcoin a far smaller risk of counterfeiting.
This is because bitcoin has a certain secret code so bitcoin is difficult to fake so it is safer.
2. Can Act As A Global Currency
Due to the rapidly developing era of information and communication, national boundaries are now difficult to see.
This also applies to bitcoin currencies that can act as global currencies because bitcoin is not a currency issued by a particular country but a currency that can be used by every country and is not affected by any condition in a country.
3. Provides Inflation Protection
Like its role as gold which can play a role as an inflation hedge value, bitcoin also provides the same protection. Bitcoin can suppress the rate of excessive inflation growth.
Having a role like gold, bitcoin can also be a new form of savings for people with an easy and simple system.
Like a savings account, bitcoin has an advantage over other savings accounts, namely the small transaction costs because all the usual savings intermediaries in banks can be eliminated in the bitcoin system.
From the advantages/benefits gained from the bitcoin system, bitcoin as a currency is also very profitable when used in the business world.
4. Register Bitcoin Wallet
Yes, of course, the first way to enter the world of bitcoin business is to register. In registering the first thing you do is register a bitcoin wallet.
When registering, make sure that you remember well or take notes neatly about your identifier and password because it is very necessary when logging in later.
The bitcoin wallet page will not store your password, so you must remember and record it properly.
5. Create A Bitcoin Account
After registering a Bitcoin wallet, the next step is to create an account on bitcoin. If you want to see the estimated income that you will get, then in the sell and buy section you can try to enter the number you want to buy and what the selling value is at that time.
By filling in the actual wallet address (bitcoin wallet) at that time you can already buy several bitcoin which you can then resell, similar to investing in gold, buying at low prices and selling at high prices.
How to buy and sell bitcoin is the easiest way to start a bitcoin business. In addition to registering a wallet (wallet) bitcoin, you can also directly register bitcoin without going through a wallet (wallet) bitcoin.
6. Create A Trading Account
Trade regularly with a Bitcoin trading account. As already mentioned if trading or selling at high prices and buying at low prices is the easiest way to earn in the Bitcoin business.
This way you can do it if you want to profit in a way that doesn’t make you dizzy because it’s the same way as investing in gold.
7. Buy Bitcoin
In the bitcoin business system, you can determine for yourself what price of bitcoin you want to buy so that the full power of your investment is in your own hands.
Try first to buy bitcoin at a cheap price (for example 100,000 rupees) and do not immediately frantically buy at a high price because after all the name is a business there is always a movement in the value of traffic up and down.
8. Perform Other Ways To Make Profits
Trading or selling bitcoin is indeed an easy way, but there are other ways you can do if you want to succeed in the bitcoin business.
9. Assess Your Bitcoin Yourself
To assess your own bitcoin and then sell bitcoin, you can determine your own value that is appropriate for you to buy and sell your bitcoin.
So that you are not wrong in buying or selling bitcoin and get a decent value, you must always update with the value of bitcoin every day.
10. Buy Cloud Mining
To get more profit, buy cloud mining or mining bitcoin which is usually sold in GHS units.
So, when prices rise, you can resell mining products in the form of cloud mining or mining in GHS units or in the form of bitcoin products.
11. Buy Company Shares With Bitcoin
Because bitcoin is experiencing positive developments from year to year, quite a several companies are selling their shares in bitcoin. As a businessman, you can try to buy some shares in bitcoin.
On the other hand the advantages in the bitcoin system as well as the ease of doing business in bitcoin so as a place of business there will always be weaknesses contained in it.
12. Unsteady, Unstable
Bitcoin is indeed a phenomenal virtual currency but also speculative. At present, the value of bitcoin is easily shaken and tends to be unstable because not enough companies have offered the purchase and sale of their products using bitcoin as a means of payment.
13. The Level of Risk is Quite High
Bitcoin which is a virtual currency does not have a form because bitcoin is only a digital file stored in a wallet or called a wallet file so it is vulnerable to damage due to virus attacks and theft.
14. Money Laundering Tool
Besides the many advantages, because anyone and anywhere can invest with bitcoin, bitcoin also turns out to be vulnerable as a money-laundering tool.
Of the various advantages, convenience in the bitcoin system and the weaknesses of bitcoin.
It can be concluded that bitcoin is indeed a promising new business place (online) but at the same time has a high enough risk.
As a businessman who aspires to succeed and profit a lot, caution and careful attitude are needed in various businesses, especially in the bitcoin business that has minimal / no government control.