Bitcoin investing in 2021

gold-colored Bitcoin investing

Biggest deal ever.  Someone transferred $ 1.1 billion of bitcoins in one transaction with a commission of $ 80!

Bitcoin has not yet become the single digital currency for the entire world, but it is foolish to deny that cryptocurrency has some advantages over traditional banking systems.  For example, transferring the amount of $ 1.1 billion from one wallet to another in one transaction, which took several minutes and cost only $ 80.  The corresponding transaction was made late on Tuesday evening, January 14, becoming the largest in the entire history of the network, if counted in dollars at the exchange rate at the time of the transaction.

As part of the negotiated transaction, 124,946.6 BTC coins were transferred from one wallet to another, which at the time of the transaction was $ 1.1 billion, and the transfer fee was 0.0096 BTC or $ 83.  The first mention of the record deal appeared on Twitter and Reddit.

But there are hardly any people who own a sufficient volume of certain crypto coins to carry out such a transaction.

The previous record for the amount belongs to a transaction made in October 2019: then 94 thousand bitcoins were transferred at a time for a little less than $ 1 billion. At the same time, the current record for the number of coins transferred at a time has been held since 2011 and is 550 thousand.  bitcoins.  At that time, one bitcoin was worth about $ 3, and the transaction value was only $ 1.5 million.Crypto currency bitcoin investing

It remains to add that the record transaction occurred after a sharp jump in the value of BTC and other cryptocurrencies.

Trading is a very exciting activity, and it is accessible to almost everyone.  If earlier the entry threshold for novice traders was relatively high, then with the advent of cryptocurrencies, even a schoolboy can make transactions on the exchange.  It was he who interested me the most when I decided to buy my first bitcoins.

Trades can also differ in opening time:

  •   scalping: fast trades for a period of several seconds to several minutes;
  •   day trading: all positions are opened and closed within one day;
  •   swing trading: positions for several days, most often up to one week;
  •   positional trading: long trades in which a trader can hold a cryptocurrency for several weeks or more.

Most often these are either large exchanges or “whales” – this is the name for early investors in cryptocurrencies, mining pools, and funds that have a lot of coins at their disposal.

The top 100 Bitcoin addresses control over 16 percent of all coins in circulation.  According to the Bitcoin Rich List, five of them have more than 570 thousand BTC worth about $ 4.7 billion in their accounts.

Recently, many wealthy Bitcoin holders who have not moved their coins for over six months have started to make transactions.  It is assumed that whales are gradually coming out of hibernation and beginning to influence the cryptocurrency market.

Invest in something that has real value

Ask yourself what is behind this asset?

The blockchain technology behind cryptocurrencies like bitcoin has been around since 2009. It’s a distributed ledger system where transactions can’t be altered once they’ve gone through. This means it’s very difficult to hack into someone else’s wallet or steal money from an exchange account. But this also makes it hard to change anything about how bitcoins work. If you want to make changes, you need to fork off another version of the code which will then become its own currency.

There are currently over 1 million different versions of the software running on computers all across the world. And each one works slightly differently. Altcoins have their own useful value – these are “code chains” that are used for specific purposes.Monero bitcoin investing

If there is a specific purpose behind the currency, its value will grow. Use bitcoin to monero converter before transferring them.

Diversify

Diversification is not just about “spreading money” across OFZs, stocks, crypto assets, currencies, metals, or indices.

There should also be diversification within each category.  The reason for this is simple – If you own a lot of cryptocurrencies in total and they all drop to zero price, then it doesn’t matter which ones dropped first or second – you’re still left with nothing! Diversify so that if any single coin drops out completely, you have something else to fall back on. It is optimal to choose 3 – 5 cryptocurrencies on which you plan to earn.

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