If you’ve been thinking about entering the world of cryptocurrency and specifically bitcoin, but don’t know much about it, there are ways to get started.
Below is a guide on what bitcoin is, how to invest, its market capitalization (total value) and more worthwhile information.
Here’s everything you need to know about bitcoin.
Bitcoin is currently the largest cryptocurrency and the first to be widely adopted, according to Coinbase. It was created in 2008 by Satoshi Nakamoto, a pseudonymous person or team.
Cryptocurrency is a digital asset designed to be used over the internet, according to Coinbase. It’s decentralized, meaning it isn’t controlled by the government or any other central authority such as a bank.
Bitcoin IRA is one option, as it is a platform specifically designed for investing in bitcoin.
Once you create an account, specialists “will roll over your funds from an existing retirement fund, execute the self-directed trade, and move your coins securely into a digital wallet,” according to its website.
To invest, you don’t have to buy one entire Bitcoin, you can buy just a fraction.
To educate yourself more on cryptocurrency and how it works, you can always enroll in an online course, too. Courses are offered at online platforms Coursera, LinkedIn Learning and Udemy.
If you’re interested in investing in other cryptocurrencies such as Ethereum, Tether and Litecoin, here are some other options to get started (all also offer bitcoin):
If you already own bitcoin, you can purchase gift cards using the cryptocurrency at eGifter.com. Retailers include Amazon, Walmart, Wayfair, Macy’s and Home Depot.
What is the current price of bitcoin?
One bitcoin is currently worth over $56,000, as of May 11, according to real-time data tracked by CoinMarketCap (note, though, market capitalization is constantly changing). Its market capitalization is currently over $1 trillion.
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Nicolette Accardi can be reached at naccardi@njadvancemedia.com. Follow her on Twitter: @N_Accardi. Find NJ.com on Facebook. Have a tip? Tell us. nj.com/tips
