Bitcoin-The Basics, The Mania and The Risk!
First and foremost, it is important to understand, we do NOT recommend cryptocurrencies. We are providing this blog post for informational purposes only. Bitcoin-the one subject everyone has been talking about recently. Whether you have heard the term in the news or discussed it at Christmas dinner, it has been all the craze the last few months. And for good reason. Bitcoin is up over 1,400% this year alone! So, what is Bitcoin? Is it something to buy and if so, what are the risks. To begin, Bitcoin is the most popular cryptocurrency today. A cryptocurrency is a digital currency that is “mined” with computers. To clarify, individuals use certain technology, along with computer hardware and power, to solve a difficult puzzle. Once the puzzle is cracked, a new bitcoin is released. There is a total of 21 million Bitcoins to be mined and brought to the market. However, you can acquire Bitcoin without mining it. Many online companies allow the purchase and sale of Bitcoin. Th...