As someone who has been interested in Bitcoin since around 2012 when I first discovered it, I get a lot of people asking me about it lately. That's because of the huge boom in Bitcoin we saw last year in 2017.
I figured if those people were asking, then others probably wanted to know these things too. It's like when you have a question in class, and are afraid to ask, but when someone finally asks the question you are thankful that they did!
Well, here are the three biggest questions I get asked about Bitcoin!
- What is Bitcoin?
I made this video back in 2012 that explains it fairly well. Back then I didn't think about it as an investment opportunity, I looked at it as a way of buying things anonymously online...
- If it's trading at tens of thousands of dollars per Bitcoin, how can I afford to Invest?
The good news is that you don't have to have tens of thousands of dollars to invest in Bitcoin. You can actually buy fractions of a Bitcoin to get started. For instance, if you only have $50 to invest, you can buy $50 worth of Bitcoin at whatever the going price is. In return, you will own a fraction of a Bitcoin worth that amount in dollars. Get it?
- How do I buy Bitcoin?
The easiest way, in my opinion, is to use Coinbase. You can easily transfer money from your bank account, and buy Bitcoin or other cryptocurrencies like Litecoin, Etherium or Bitcoin Cash.
I hope this post answers your questions. If you have any more, hit us up in the comments!