It is fairly simple to acquire bitcoin as it is to sign up on a new mobile application. You need to download the bitcoin wallet onto your cellular phone and fill in your details before you begin using bitcoin. Generally, the process takes about 2 minutes to complete. When you have your bitcoin wallet, you can make use of traditional payment methods like credit card, bank transfer or debit card to buy bitcoin. In the Ukraine, you can buy and sell various cryptocurrencies like bitcoin (BTC) from trusted service providers. You will even be able to exchange bitcoin to USD if necessary.
Before Bitcoin became famous, a lot of people used to believe that Bitcoin was confidential. However, because every thing is recorded on a publically distributed global ledger (the blockchain), it is literally not anonymous at all! If you remain a digital path (such as purchasing bitcoins with an ID), then it is just a matter of enough dedicated time and resources to de-anonymize your transactions on Bitcoin’s blockchain.
As well as that’s why more and more people are discovering ways to improve their anonymity when they interact using the Bitcoin network. Many people want to know how they can obtain bitcoins free from using an identification. To support such needs, some businesses offer confidential buying/selling of bitcoins. As well as there also are particular tricks and tips one ought to follow to remain anonymous.
More about bitcoin
Bitcoin is a virtual currency, it is not a company or organisation, so when you want to invest in bitcoin you are purchasing online currency for trade. The most common method of investing in bitcoin is accumulating the currency and waiting for it to increase in value. When you notice a steady upsurge, you can then decide if you want to sell. It is important that you make this decision on your own without asking advice from people as to whether it will increase or not because no-one will really be able to answer that.
Can my bitcoin be used again?
Many people may have doubts about bitcoin because it is virtual and may feel uneasy about whether it can be used again or not, however it is impossible to reuse bitcoin. When you transfer bitcoins from your wallet to the wallet of some-one else, the bitcoin network will receive a request to add your transaction into a new block. This forms part of what we call blockchain. The request will then become legitimate, and the transaction will be considered complete after the six messages of confirmation. Many trusted service providers consider the payment accepted and activate the code to receive the money following the second or third message of confirmation from their system.
What should you remember when investing?
- you should only invest as much as you are willing to lose. Bitcoin is very risky and there is no way of telling whether you will gain or lose when you invest.
- Once you have purchased bitcoin, you should move them into your personal wallet instead of leaving them at the exchange as this is a safer method.
- Buy bitcoin from traders that have a good reputation only, to safeguard your money.
- Rather purchase a set amount each month – it is not recommended that you buy all your bitcoins in one trade.
How to trade
With online trade, bitcoin is transferred immediately after the payment confirmation is received. When it is being exchanged for cash, the operator will confirm the trade amount manually within 5-10 minutes. You may be expected to pay a service commission fee which will be subject to the current market situation at the time. This is not a fixed rate.
Safety of trading bitcoin
Many agencies will not save your card information and all monetary transactions are made on a payment gateway which meets the strictest security requirements of the standard PCI DSS level 1. You do not need to provide your ID as the exchange is completely private.
You will not be required to use an ID confirmation to buy bitcoins, but even still, with more advanced techniques, you can be tracked. In some cases you can be recognized by your IP or through the nonpublic wi-fi which you are working with.
Or you might accidentally disclose your Bitcoin public address online somewhere. Or a seller might monitor you down from your mobile or automobile number when you performed your face-to-face fiat/Bitcoin bargain with them. As with anything done online, exercising safety measures is of utmost importance.