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What Is Bitcoin?

Understanding what Bitcoin entails is a must for anyone who plans to trade it. If you don’t have enough knowledge about how an asset works, you’re going to be exposed to several risks to your investment. If you’re already planning on trading Bitcoin, it’s safe to assume you’ve read a bit about it.

We’re going to provide a general definition for Bitcoin nonetheless since that’s going to work as a starting point for everything else.

Bitcoin was the first-ever recorded cryptocurrency in history, it started making its appearance in late 2008 and became popular from 2009 onward. In essence, Bitcoin is a decentralized asset people can use to make international transactions. Since this is a decentralized asset, no banking or government agency has control over how the user manages the asset.

One of the reasons why Bitcoin made such a big impact on the modern economy is that it works with strong cryptography. Each Bitcoin transaction is processed as a “block” and placed on a “Blockchain Network,” adding an extra layer of security other assets don’t have.

The Blockchain network is spread across many computers worldwide, and it stores all the information regarding past and recent crypto transactions. Thanks to this feature, it’s much more difficult for scammers to alter transaction records to their liking. Generally speaking, people that make Bitcoin transactions are safer for most of the part.

Hot wallets are always connected to a server online, meaning you can make crypto transactions at any point of the day without any problems or delays. If you’re planning on making daily crypto transactions, the hot wallet is the best option you can currently take.

On the other hand, the cold wallet is not always connected to the internet. You may find these wallets as “hardware wallets” or even paper wallets. Hardware wallets may come in USB sticks, and they contain the user’s private keys. Considering that you’re the person holding the wallet, it’s virtually impossible for someone to gain access to your funds (as long as you don’t lose the wallet).

In terms of security, using a cold wallet may be the best option since it’s not connected to the internet, so it isn’t exposed to daily security risks. However, hot wallets are much more convenient and accessible. You must choose the option you feel the most comfortable with.

How Is Bitcoin Stored?

Considering Bitcoin is an entirely digital asset, it isn’t stored in the same way as other assets. Typically, Bitcoin (and cryptocurrencies in general) is stored in digital, crypto wallets; these wallets are heavily encrypted and feature unique access codes for the person who owns them.

There are two main crypto wallet types. The “hot” wallet is the most commonly used one, and you can open one on an exchange or through a mobile/desktop wallet app.

Is Trading the Only Way to Get Bitcoins?

Trading has become quite popular over the past few years, so many people believe it’s the only way they can gain access to the asset. Thankfully, there are many ways to acquire Bitcoin, and it mostly depends on your resources, goals, and needs.

The easiest way to acquire Bitcoins is through an exchange. There, you must fund your wallet with your local currency (USD, EUR, JPY, etc.) Once you’re done, you can choose which crypto you want to exchange your funds with; these exchange websites often show you the exchange rates so that you can get an idea. In most cases, transactions through exchange websites don’t take that long, and you may have access to your Bitcoins sooner than later.

Other people prefer crypto mining. In this process, your task is to process crypto transactions for the Blockchain network and place them there. In exchange for your work, you’re going to get a portion of Bitcoin. While this method sounds more convenient than the rest, it requires powerful processing power, which not everyone has.

Finally, you may open a crypto wallet and accept payments with Bitcoin in your business. However, this method doesn’t ensure you’re going to get Bitcoins at any point. Trading is one of the most popular methods to acquire Bitcoins because it’s always evolving, and it has always been an effective method to invest in an asset. If your goal is to learn everything about how Bitcoin behaves, trading is the best option you can currently take.

Should You Invest In Bitcoin?

This is the question most traders have asked themselves at some point. Bitcoin’s opinions are still mixed among the general trading population, so it’s hard to determine whether investing is a good choice or not. Overall, it depends on whether you feel you can benefit from this investment type or not.

There are reasons why investing is a good choice and reasons why it isn’t. We’re going to give you an overview of those reasons below.

First, Bitcoin is an asset that could become mainstream in the future, meaning its popularity went that high that now major corporations and the majority of people use it. If this happens, Bitcoin could be an excellent alternative to fight inflation and make more secure transactions. Additionally, the asset’s value could go unexpectedly high, benefiting early investors.

On the other hand, Bitcoin is a highly speculative investment in general. It’s impossible to predict how Bitcoin is going to behave in the future, or if it’s even going to be popular at all. Even if Bitcoin is over 10 years old, it’s still a relatively new asset that needs some work. In essence, Bitcoin has an equal chance of succeeding and failing.

Finally, Bitcoin is a volatile asset, meaning the trading process is volatile too. Bitcoin has already experienced several ups and downs throughout its history, meaning it gets even harder to predict how it’s going to behave in the future. Generally speaking, Bitcoin can be a good investment for you as long as you’re careful with it and make smart decisions. If you don’t know how to read market data and are not willing to learn, investing in Bitcoin may not be the best choice for you. On the other hand, if you’re excited about what Bitcoin has to offer and you’re willing to give it a chance, you can begin today!

Why Is Trading Risky?

If you’ve ever talked to a trader, they may have told you that trading can become risky at some point. While trading isn’t impossible to understand, it entails a lot of risks you must be aware of before you make any decisions.

First, crypto trading, in general, is highly speculative, meaning your traders are mostly going to be based on what you think the asset’s value is going to be at the time of executing the trade. You can either fail or succeed in these cases, but there’s no way to tell with 100% accuracy.

On the other hand, trading takes time. You can’t expect to trade for a few minutes a day and become an expert trader in a couple of weeks. Keep in mind that the trading market is always changing, and you must learn how to adapt to those changes. To make smarter trading decisions, you must monitor the market for a significant amount of time each day.

The last point brings us to this one: Trading can easily become exhausting for a trader. Processing too much information at a time can induce high anxiety and stress levels, even more, if you don’t understand what’s happening. When it comes to trading, the best thing you can do is to do it with a clear mindset to avoid making any poor financial decisions.

What Can a Trading App Do for You?

If you’ve been planning to trade Bitcoin but find it too hard to do it, this is the place that can help you. Trading apps are still a work in progress, but they have already helped several traders worldwide to trade much smarter.

In the case of BitQL, we developed an app that every trader could use regardless of their current skill level. This app provides you with an intuitive and simple-to-use trading platform that allows you to have a better picture of what’s happening at the moment with the market.

As mentioned before, trading with a clearer mind can help you make better decisions. Some trading platforms offer overly complex transaction processes, which may be negative for some beginners. Thanks to BitQL, you’re not going to have this problem.

We believe being introduced to a more minimalistic platform can allow you to assess all the information available easily.

In essence, you can use BitQL in any way you consider appropriate. The software doesn’t do any work on your behalf, so you must ensure that you’re creating a great strategy to place your trades. Trading can be difficult, but if you combine your knowledge with the power BitQL has to offer, you’re likely to see improvement in your skills.

How Can You Sign Up for BitQL?

Interested in registering for BitQL? Great! There’s a simple sign-up process you must complete before becoming an official member of our community. We got rid of unnecessary steps and made our process as simple as possible for everyone.

Step 1
Step 1:
Find our registration form

at the end of this webpage and fill it out with the required information. First, we’re going to require basic information, such as your name, phone number, and email address. When you’re done with everything, send the form to our team so that we can get back to you with the rest of the process.

Step 2
Step 2:
Wait until our team process your information.

Your new account manager is going to contact you to verify your information one last time and verify how you want to work with BitQL. It’s important you answer this call to complete your account, so make sure to stay alert for any incoming calls.

Step 3
Step 3:
Choose your preferred trading method.

We wanted to make things a bit different for BitQL and allow people to trade in any way they considered appropriate for their goals. You can either trade through your account manager or use the BitQL app yourself. If you don’t feel comfortable with getting an account manager for your trades, you can request full access to BitQL without any extra costs.

Step 4
Step 4:
Once your account is ready to go,

create your first trading strategy. Remember BitQL comes with a plethora of features you can use to make your trading more efficient. You may spend as much time as you want to evaluate these features.

FrequentlyAsked Questions

Since trading apps are still relatively new to the market, it’s common for people to feel confused at times. We made BitQL as easy to understand as possible for beginners and professionals, and it’s vital for us to give you all the information you need to get started.

If you have any additional questions regarding Bitcoin or BitQL, you may find what you’re looking for here.

Can BitQL be Used in Mobile Devices?

BitQL may be used in any device with an active internet connection; this includes desktop computers, laptops, tablets, and smartphones. Whether you want to trade at home or on the go, the BitQL app allows you to do so.

Overall, the app experience works the same on all devices since we optimized the platform to work the same regardless of where you access it from. If you want the best experience possible, going for web trading may be the best choice, but if you can’t stay on your computer for that long, the mobile version also works.

Is BitQL Free?

Yes! BitQL is entirely free for everyone. To create your account, fill out the registration form at the end of this page to get started on the process.

Why Did You Choose Bitcoin?

There are thousands of different cryptocurrencies, so it’s common for people to wonder why we chose Bitcoin over the rest. The primary reason is that it’s the most popular one, meaning it’s the asset with the most information online. Other cryptocurrencies don’t have that much information available, making them less accessible for beginners or people unfamiliar with the crypto world.

Bitcoin may be difficult to trade, but if you have access to more information about it, you’re eventually going to understand how it works over time, making trading easier for you.

Get Started with Your Trading Journey Today!

No trading journey is easy, but as long as you put in the work, there’s nothing to fear. We want to give you a hand during this process, and that’s what BitQL is for. If you’re ready to begin, create your account today!