Cryptocurrency has made waves over the past few years. Many have been created however Bitcoin has managed to stand out from its peers. Bitcoin came into fruition in 2008 and was created by Satoshi Nakamoto whose identity remains widely mysterious. However, as popular as it has become, most people don’t know how it works and if it’ll make a good return for their investment.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products and services. In order to get started with bitcoin you will have to download the app and you can buy bitcoin from a bitcoin exchange. As a South African you can exchange your bitcoin at are ice3X (iceCUBED), and Luno which are the most well-known bitcoin exchanges. This is usually the safer option when you are starting out.
Before you invest in bitcoin, you need to understand the high risk involved as the currency is quite volatile and it fluctuates constantly. This means that you won’t always get that much money all the time, but you can still get very high returns. Hence it is important to remember that this will not always be the case.
Is bitcoin something you’re interested in?