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ou purchase Bitcoin, it can take several days. Other altcoins can be purchased and sent to you in seconds.</p><p id="a7fc">In general, altcoins have many different purposes. The intent is for digital currencies is to make transactions faster and more secure. Some digital currencies are trying to revolutionize the currency world.</p><p id="0ecd">For instance, when the United States creates a penny or $.01. The federal mint creates a penny and it costs the government$ 1.99.</p><p id="e910">A nickel or $.05 costs the federal mint$ 7.62. Governments rely too heavily on their fiat currency. A digital currency would reduce these enormous costs and save the government a lot of money.</p><h1 id="e38d">Issues</h1><p id="b0be">The sticking point is education. Many people do not understand what is a digital currency. Some people still believe Bitcoin could go to zero but that is unlikely.</p><ul><li>People are used to holding and touching money. If you think about it, some people never physically touch money these days. Many people use their debit and credit cards. Then their money is electronically transferred to their bank account. They never actually touch money, but use other means to spend it. You could say they are already using digital currencies, but just by a different name.</li><li>People cannot comprehend a currency they cannot see, taste, or touch. I was like this when someone first mentioned cryptocurrencies to me a few years ago. I was thinking how could someone have money, but you can’t see it? This is basically the belief that there is a price on the cryptocurrency that fluctuates constantly.</li><li>Buying cryptocurrencies can be a problem. There isn’t an easy way to create a cryptocurrency account unless someone shows or tells you how to do this. You can compare opening a cryptocurrency account the same as if you were opening a bank account online. The process is very similar to sending your identification card and take a picture of yourself.</li><li>Cryptocurrency scams exist. When cryptocurrencies first emerged, many criminals used Bitcoin for payment. This gave the cryptocurrency market a bad reputation. These transactions still continue today, but the same can be said of the dollar and other currencies used in illegal activities.</li></ul><h1 id="cf6a">The Future</h1><p id="e889">Cryptocurrencies are growing as financial institutions are getting on board. You have to forget about when Facebook, Twitter, and other social media accounts forbid the use of cryptocurrency ads a few years ago.</p><p id="1cee">Many countries are trying to create their own digital currency. Some countries recognize the importance of digital currencies, but implementing them takes time as well as trial and error.</p><p id="9637">One day you could be using digital currencies instead of fiat currencies. The United Congres had put the digital currency in a stimulus bill this year but it was removed. Sooner or later you could be u

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sing digital currencies so it’s time to educate yourself about this.</p><p id="4bf5">See these other articles for more on cryptocurrencies:</p><div id="0c2a" class="link-block"> <a href="https://readmedium.com/how-to-make-your-millions-in-cryptocurrencies-faster-with-one-simple-step-f012e5122b51"> <div> <div> <h2>How to Make Your Millions in Cryptocurrencies Faster With One Simple Step</h2> <div><h3>From HODL to swing trading could be the key</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/1*7iaLDKDtpPxOiNEw4FTONA.jpeg)"></div> </div> </div> </a> </div><div id="2c5c" class="link-block"> <a href="https://readmedium.com/how-i-plan-to-make-millions-in-the-cryptocurrency-market-421478b22cdb"> <div> <div> <h2>How I Plan to Make Millions in the Cryptocurrency Market</h2> <div><h3>A Step by Step Process that you can Easily Follow</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/1*qLIMhl4EmzDO99zdAjx-hw.jpeg)"></div> </div> </div> </a> </div><p id="5e73"><b>References:</b></p><p id="cb3a"><a href="http://coinnews.net/2020/02/07/penny-costs-1–99-cents-to-make-in-2019/">Penny Costs 1.99 cents to make in 2019</a></p><p id="95bd"><a href="https://www.cnbc.com/2018/03/26/twitter-bans-cryptocurrency-advertising-joining-other-tech-giants-in-crackdown.html">Twitter bans cryptocurrency advertising</a></p><p id="7549"><a href="https://www.elliptic.co/blog/bitcoin-money-laundering">Bitcoin money laundering</a></p><p id="2ee9"><a href="https://www.bloomberg.com/news/articles/2020-10-19/powell-says-fed-has-made-no-final-decision-on-digital-currency">Powell says Fed has made no final call on digital currencies</a></p><p id="2a47"><a href="https://www.ledgerinsights.com/digital-dollar-congress-covid-19-stimulus-bill/">Congress pushes Digital Dollar in another COVID-19 stimulus bill</a></p><p id="5c8b"><a href="https://medium.com/@tomhandy1"><b>Tom Handy</b></a><b> </b>is a top writer on Medium, former Quora writer, and father of two kids. He retired from the Army and sits on several non-profit boards. You can find him on Twitter<a href="http://www.twitter.com/tomhandy1"> @tomhandy1</a> and his publication <a href="https://medium.com/lifeislikeagame">Life is Like a Game</a>.</p><p id="7989">This article is for informational purposes only. It should not be considered Financial or Legal Advice. Not all information will be accurate. Consult a financial professional before making any significant financial decisions.</p></article></body>

The Beginner’s Guide to Investing in Bitcoin in 2020

The one investment that is up over 50% in 2020 you should know

You probably heard about Bitcoin making a recent run to $15,000. A few months ago, Bitcoin was around $4,000. So you’re asking yourself, it too late to get into Bitcoin right now?

The answer is it depends.

If you’re looking to make money in a week, that could be very risky. The price of Bitcoin could drop a couple thousand dollars. This has happened before and likely to happen again.

The cryptocurrency bulls are back and pushing the price higher. Estimates are Bitcoin could reach a new all-time high. YouTuber and cryptocurrency investor BitBoy believes this is the month Bitcoin hits a new all-time high.

As an investor, if you wait a few months or even years, you will see Bitcoin reach six figures. Several investors have predicted the six-figure rise. Some have gone as far as seven figures.

I honestly believe Bitcoin will reach six figures. After that, I’m not sure.

Trying to calculate the rise of Bitcoin a digital currency that didn’t exist until 2009, is hard for many to give an honest answer. People can come up with formula after formula and reasons why Bitcoin will reach a price. Not many can agree on the same answer.

I do believe the altcoin (alternative currencies that are not named Bitcoin) market will take over after Bitcoin’s rise. My money is on altcoins although I do own some Bitcoin.

Who created Bitcoin?

A person or group of people called Satoshi Nakamoto created Bitcoin in January 2009. Shortly after Bitcoin was created, Satoshi vanished. No one has identified who this person is, while many have speculated who really is Satoshi. To this date, no one has identified Satoshi Nakamoto and his or her location.

What is the purpose of Bitcoin?

When Bitcoin was created it was initially as a currency that could not be touched by the government or banking system. If you recall, prior to Bitcoin’s creation, the world went through the Great Depression. Many banks, companies, and people were bailed out. Real estate took a hit as prices cooled off.

What is an altcoin?

Altcoins emerged since Bitcoin is considered a slow-moving currency. When you purchase Bitcoin, it can take several days. Other altcoins can be purchased and sent to you in seconds.

In general, altcoins have many different purposes. The intent is for digital currencies is to make transactions faster and more secure. Some digital currencies are trying to revolutionize the currency world.

For instance, when the United States creates a penny or $.01. The federal mint creates a penny and it costs the government $1.99.

A nickel or $.05 costs the federal mint $7.62. Governments rely too heavily on their fiat currency. A digital currency would reduce these enormous costs and save the government a lot of money.

Issues

The sticking point is education. Many people do not understand what is a digital currency. Some people still believe Bitcoin could go to zero but that is unlikely.

People are used to holding and touching money. If you think about it, some people never physically touch money these days. Many people use their debit and credit cards. Then their money is electronically transferred to their bank account. They never actually touch money, but use other means to spend it. You could say they are already using digital currencies, but just by a different name.
People cannot comprehend a currency they cannot see, taste, or touch. I was like this when someone first mentioned cryptocurrencies to me a few years ago. I was thinking how could someone have money, but you can’t see it? This is basically the belief that there is a price on the cryptocurrency that fluctuates constantly.
Buying cryptocurrencies can be a problem. There isn’t an easy way to create a cryptocurrency account unless someone shows or tells you how to do this. You can compare opening a cryptocurrency account the same as if you were opening a bank account online. The process is very similar to sending your identification card and take a picture of yourself.
Cryptocurrency scams exist. When cryptocurrencies first emerged, many criminals used Bitcoin for payment. This gave the cryptocurrency market a bad reputation. These transactions still continue today, but the same can be said of the dollar and other currencies used in illegal activities.

The Future

Cryptocurrencies are growing as financial institutions are getting on board. You have to forget about when Facebook, Twitter, and other social media accounts forbid the use of cryptocurrency ads a few years ago.

Many countries are trying to create their own digital currency. Some countries recognize the importance of digital currencies, but implementing them takes time as well as trial and error.

One day you could be using digital currencies instead of fiat currencies. The United Congres had put the digital currency in a stimulus bill this year but it was removed. Sooner or later you could be using digital currencies so it’s time to educate yourself about this.

See these other articles for more on cryptocurrencies:

How to Make Your Millions in Cryptocurrencies Faster With One Simple Step

From HODL to swing trading could be the key

medium.com

How I Plan to Make Millions in the Cryptocurrency Market

A Step by Step Process that you can Easily Follow

medium.com

References:

Penny Costs 1.99 cents to make in 2019

Twitter bans cryptocurrency advertising

Bitcoin money laundering

Powell says Fed has made no final call on digital currencies

Congress pushes Digital Dollar in another COVID-19 stimulus bill

Tom Handy is a top writer on Medium, former Quora writer, and father of two kids. He retired from the Army and sits on several non-profit boards. You can find him on Twitter @tomhandy1 and his publication Life is Like a Game.

This article is for informational purposes only. It should not be considered Financial or Legal Advice. Not all information will be accurate. Consult a financial professional before making any significant financial decisions.