Dear @steemcurator01 and @steemitblog, Thank you so much for an opportunity to talk about one of my best cryptocurrencies.
Bitcoin wasn't really strange to me by the time I started using it. My brother used to talk about it although he wasn't really into it. But in all I didn't find it interesting.
Three years ago during my second year in the university, I had a colleague by name Sly who frequently made a post about Bitcoin and asking people to sell to him.
At that time, I never knew what Bitcoin was and my brother wasn't close to me so I could ask. His constant posts and hype made me curious and I was forced to ask him about Bitcoin one day. He told me just a few things about it and said I could also join in Bitcoin trading.
I went back to do some research and the large figures I saw was scary. I went back to discuss with him that I couldn't join the trading because the capital required is much. He told me I could start with the little I had. I found trading with the block chain interesting so I decided to join.
Although I didn't join immediately, I got some funds later from my Dad and then I Opened an account on a Bitcoin exchange (LocalBitcoin as I wrote in my Best exchange challenge), Verified my identity and Deposited some money into my account.
I then Opened my first position on the exchange (i.e buying). That was how I became a Bitcoin trader. With smaller volumes, it kept improving and getting better.
Launched in 2009, Bitcoin is the world's largest cryptocurrency by market cap.
Unlike fiat currency, Bitcoin is created, distributed, traded, and stored with the use of a decentralized ledger system known as a blockchain.
As the earliest cryptocurrency to meet widespread popularity and success, Bitcoin has inspired a host of other projects in the blockchain space.
If you ask me how Bitcoin has impacted my life, I would say that constant exposure to cryptocurrency has has played a major role in this. In my community especially, people look at
Bitcoin and the whole crypto thing as gambling in which you can lose all your money slowly. This was the main reason I wasn't interested in Crypto. But right now, I see it as a stepping stone to greatness. Earnings in BTC and profits from the trade can uplift someone from "a bigger" to a "life saver". I can testify to that. We live in a world of technology where we need to trust less and verify more.
Well, let me stop here. It was nice taking part in the challenge. Thank you for having me. I remain Blessing Daniels (Nigeria)
The price of BITCOIN (BTC) will be 13,410.15 USD
Yea. This is a constant mistake even a bunch of my friends did early on when I was the only one who put my money in Bitcoin. Since Bitcoin is divisible up to 8 decimal points we can invest even a few dollars worth at a time.
I highly disagree on this. Initially even I thought Bitcoin was a gamble that had the potential of a big payout. But in reality, Bitcoin is a very good investment asset.
The amazing store of value ability of BItcoin is what brings so many people towards it. Bitcoin is deflationary and the creation of new Bitcoins decreases by half every 4 years. Whereas its demand remains the same. So, the price of Bitcoin has the potential to increase greatly.
Every single investment that you do be it on real estate, mutual funds or even stocks come with a certain risk attached to it. The same goes with Bitcoin. So, always invest the money that you are prepared to lose. This for me is the golden rule for any type of investment.
Steem on!
#twopercent #india #affable
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Great to have you in the contest, dear.
I'm happy to know that you have traded with bitcoin back in the days, so I can understand why you quickly accepted and understood steem.
I can't wait to see you do great exploits in your bitcoin journey. Keep loving bitcoin and never see it as gambling again.
steem on!
#twopercent #nigeria
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