Blockchain Technology and the Growth Potential of Bitcoin Investment
Blockchain is a distributed, decentralized, public ledger and it is the underpinning technology that maintains the bitcoin transaction ledger. Comparing to the conventional financial systems such as banks, bitcoins offer compelling advantages with the huge potential to transform the entire financial sector.
“Blocks” on the blockchain are made up of digital pieces of information. The distributed database created by blockchain technology has a fundamentally different digital backbone. Recently bitcoin seems to have assumed the role of investment asset, as traders, institutional investors and small savers are heavily investing in bitcoin trading. All the bitcoin predictions regarding the future of this cryptocurrency made a couple of years ago are astonishingly becoming true.
What is Bitcoin Wallet-
If you are planning to send or receive bitcoin payment, it is mandatory that you possess a bitcoin wallet, and before that you must be aware of what exactly a blockchain wallet is. A Blockchain (or cryptocurrency) wallet is a software program that enables users to buy, sell, and monitor balance for their digital currency (or assets). If someone sends you cryptocurrency, it means it is assigned to the address of your blockchain wallet but recorded in a distributed ledger.
Why Invest in Bitcoin?
Bitcoin’s sound monetary policy is one of its most valuable aspects. This cryptocurrency offers sound and predictable monetary policy that can be verified by anyone. Glen Goodman, a trading veteran and a contributing expert in cryptocurrency at the London School of Economics has branded the rise of bitcoin and cryptocurrencies a "once-in-a-generation" investor opportunity and called on people to "grab it with both hands." Bitcoin could be the first-ever store of value that is immune to inflation.
How to Invest in Bitcoin
The most common form of “investing” in Bitcoin is buying the currency in hopes it will appreciate in value. Coinbase, Bitstamp and Bitfinex are the popular platforms you can use for investing in Bitcoin. Once you establish an account, connect it to your payment source — a bank account or a credit or debit card — via two-factor authentication. Make sure to buy bitcoins only from reputable bitcoin exchanges. Sometimes paying a little extra is worth the security and peace of mind.
Bitcoin adoption is at an all-time-high with thousands of merchants accepting the currency. Cryptocurrency is a young asset, the market is volatile, filled with stories of extreme success or a massive failure. But the promising sign is bitcoin and other cryptocurrencies still have great growth potential in 2019 and upcoming years.