If you’re at a party or social gathering, chances are that someone might start talking about Bitcoin. If you’ve heard of it, but have no clue what it is, here’s some useful info to help you get in the know…
Bitcoin has taken the world by storm
This financial innovation is breaking the mould in old-school currency trading. In the press, social media, over coffee in the office, everyone is talking about Bitcoin.
It is said to be one of the world’s most important developments since the internet was created, one that you don’t want to be missing out on.
Simply put, Bitcoin is a digital form of cash, known as a cryptocurrency
Digital encryption is what defines cryptocurrency, and it is not linked to sovereign borders or as we currently define the world.
The true innovation of this digital transaction is that it is processed outside of the traditional banking system but fully secured through high-end blockchain technology.
This decentralised virtual currency was created by a person (or persons) with the pseudo name, Satoshi Nakamoto in 2008.
Bitcoin has no owner, head office or CEO. And your Bitcoin account cannot be shut down or frozen.
“Bitcoin will do to banks what email did to the postal industry.” – Rick Falkvinge, Founder of the Swedish Pirate Party
But a lack of education and knowledge is one of the most significant barriers to entry to the cryptocurrency market.
This misunderstanding can often result in people losing money or not investing at all. This is where GetBitcoinsNow comes in – Bertha Kgokong, the brains behind GetBitcoinsNow, is a cryptocurrency enthusiast and together with her team, they will assist and guide you through the process of all cryptocurrencies like Bitcoin, Ethereum and Litecoin.
Bertha’s engineering background, coupled with an MBA, led her inquiring mind into many hours of cryptocurrency research. She knew that the only way to understand this new digital currency was through thorough self-education.
Most people don’t have the time or willingness to do the research, which is fundamental if one wants to trade in cryptocurrencies successfully. A lack of understanding can result in losing money and getting caught in fake pyramid schemes. Trading safely comes from extensive knowledge and research.
But what makes Bitcoin more appealing than traditional currencies or investments?
The beauty of Bitcoin is that you can send them to anyone in the world within minutes – there is no geographical limit to the transaction. It also does not have the same limits and frameworks as the traditional market, being the central banking system.
There is no financial exclusion in the system; anyone can trade.
Purchasing Bitcoins is instant, quick, cheaper and easier for the buyer and they can be traded 24 hours a day, 365 days a year in a global market.
Bitcoins can be purchased directly by the buyer without the need for brokers or financial institutions
The good news is that you only have to pay minimal fees on your choice of trading platform.
Bitcoins are also completely safe to transact as records of transactions are maintained in a public ledger, visible to anyone at anytime.
The best reason why you should consider Bitcoin as an investment? It has grown by over 1 000% in the last year!
And the best reason why you should consider Bitcoin as an investment? It has grown by over 1 000% in the last year!
Bitcoin is currently accepted as a form of currency in South Africa by multiple service providers
Since PayFast, South Africa’s leading payment processor started allowing Bitcoin as a payment method through BitX; many local places allow you to shop online with Bitcoin, such as Takealot.com and BidorBuy.
And if you are concerned about the high growth of Bitcoin as some people are, Bertha Kgokong from GetBitcoinsNow has some advice:
“When will the growth end? The growth will end when we start to build the walls of control around Bitcoin. It is our attempts to manage and control systems that form the walls of limitations which contain their true potential.”