All About Bitcoin: How to Acquire, Store, Trade, Protect, and Use Bitcoin in Your Life.

All About Bitcoin

How to Acquire, Store, Trade, Protect, and Use Bitcoin in Your Life.

Alan John

Table Of Contents

Chapter 1: Bitcoin and Cryptocurrency – An Overview

A Look At Cryptocurrency and Bitcoin’s Colorful Past        

Why Do Cryptocurrencies Exist?        

How Bitcoin Works        

The Technology Behind Bitcoin        

Chapter 2: Bitcoin Value – Determine the Value of Bitcoin

Bitcoin’s Value Lies In Its Utility        

Bitcoins Are Incredibly Scarce        

Supply And Demand Affects Bitcoin Value Directly        

Chapter 3: Different Techniques To Acquire Bitcoin

Buy Some Bitcoins        

Trade Your Other Cryptocurrencies For Bitcoin        

Get Paid With Bitcoins        

Complete Small Tasks On Websites        

Join Bitcoin Faucets        

Mine Your Own Bitcoin        

Chapter 4: Bitcoin Mining – All About Bitcoin Mining

Bitcoin Mining Terms You Should Get To Know        

Bitcoin Mining Hardware Commonly Used By Miners        

The Role Of Mining In The Creation Of New Bitcoins

What Is The Blockchain?        

What Exactly Is Bitcoin Mining?

Bitcoin Mining And Mining Difficulty

Bitcoin Cloud Mining – An Alternative To Joining Mining Pools?

Is Bitcoin Mining Profitable?

Chapter 5: Bitcoin Storing – Store Safely Your Bitcoin and Other Cryptocurrency

Online Wallets

Mobile Wallets

Desktop Wallet

Paper Wallet

Hardware Wallet

Chapter 6: Trading And Selling Your Bitcoin For Profit

Bitcoin Trading Strategies

Popular Bitcoin Trading Platforms

Are You Ready To Start Trading Bitcoins?

Chapter 7: Using Bitcoin As An Investment Strategy

Bitcoin Investment Methods

Strategies To Succeed In Bitcoin Investing

Chapter 8: How to Accept and Use Bitcoin for Your Business?

Online And Offline Businesses Can Accept Bitcoin Payments

How To Handle The Volatility Of Bitcoin        

Why Your Business Should Start Accepting Bitcoin Payments

The Benefits Of Bitcoin Payments For Your Business        

Chapter 9: Protect Yourself Against Fraud And Theft on Bitcoin

Bitcoin And Cryptocurrencies Are Not Scams

Scam #1 – Fake Bitcoin Exchanges        

Scam #2 – Phishing Scams

Scam #3 – Cloud Mining Scams

Scam #4 – Ponzi Scams

Chapter 10: The Future Of Cryptocurrency

Massive Support From The Masses

Bitcoin In Developing Economies        

Fast And Cheap International Payments        

Combat Crime and Corruption

Blockchain Technology Will Become Mainstream

Chapter 1: Bitcoin and Cryptocurrency – An Overview

In this guide, you will learn all about Bitcoin (BTC) and cryptocurrency, how they work, why they exist and what kind of technology is behind Bitcoin. It wasn’t too long ago when people started hearing the words ‘Bitcoin’ and ‘cryptocurrencies.’

Few people outside of the crypto-communities knew what they were and many thought it was just another fad that was bound to fail in a few years or so. The value of one bitcoin was just a few cents then so obviously it wasn’t worth a lot. For this reason, it was ignored by the masses. There were far more profitable investments one could make, after all.

Those who invested sums of money on the new digital currency either believed in the system proposed by its founder, Satoshi Nakamoto, or they simply wanted to see how it works.

Either way, those who believed were rewarded greatly, and continue to be rewarded, as a single bitcoin now costs thousands of dollars.

It only took Bitcoin five years to breach the $1,000 mark in late 2013, and just a few years later, Bitcoin prices are at an all-time high – way past the $10,000 mark for a single bitcoin!

With skyrocketing prices and extremely fast growth, more and more people are curious about bitcoins and cryptocurrencies as a whole.

A Look At Cryptocurrency and Bitcoin’s Colorful Past

Cryptocurrencies are digital currencies which are electronic in nature. They do not have a physical form like paper money or coins which you probably have in your wallet right now. You can't hold them physically, but you can buy things with them.

Depending on the merchant you're doing business with, they may accept more than one cryptocurrency as payment.

According to CoinMarketCap ( https://coinmarketcap.com ), there are more than 4,000 active cryptocurrencies right now. If you’re looking to invest your hard-earned cash but can’t afford Bitcoin prices right now, there are plenty of alternative cryptocurrencies to choose from such as Ethereum, Litecoin, Ripple, Dash, Monero, Zcash, and more.

We would, of course, advise you to do some in-depth research on the cryptocurrency you want to invest in as not all cryptocurrencies are equal. Some are more stable than others and would, therefore, make for better investments.

Bitcoin is not the world’s first cryptocurrency, but it is the most successful.

Many have come before it but all have failed. And the reason for failure?

Virtual currency had an inherent problem – it was easy to double spend.

You could pay $100 to one merchant and use the same amount of money to pay a second merchant! Scammers and fraudsters simply loved this loophole.

Fortunately, in 2007, Satoshi Nakamoto started working on the Bitcoin concept. On October 31 st  the following year, he released his white paper entitled " Bitcoin:   A Peer-to-Peer Electronic Cash System " which outlined a payment system that addressed the double spending problem of digital currencies.

It was a brilliant concept that drew the attention of the cryptographic community. The Bitcoin Project software was registered in SourceForge just a little over a week after the white paper was published.

In January 2009, the first ever Bitcoin block called the ‘Genesis block’ was mined. Days later, block 170 recorded the first ever bitcoin transaction between Hal Finney and Satoshi Nakamoto.

The very next year, in November 2010, Bitcoin’s market cap exceeded

$1,000,000! This was a very pivotal moment in the development of Bitcoin as this lead to more people getting interested and investing in bitcoins. The price at this point was $0.50/BTC.

However, in June 2011, Bitcoin experienced the so-called Great Bubble of 2011 after reaching an all-time high of $31.91/BTC. Just 4 days after reaching its highest price, the exchange rate plummeted to just $10/BTC.

Many investors panicked at losing so much money and sold at a loss. It took almost 2 years for the exchange rate to recover and surpass the previous all-time high. Those who kept their bitcoins made the right decision as the price has continued to climb and surpass everyone’s expectations.

What’s really interesting about Bitcoin is