First of all, need some background information about what Bitcoin is? It's a digital currency used mostly for online purchases and as an investment, albeit a very risky one. It is not sponsored by any government. Instead, it works through a system where people in the Bitcoin community can earn coins from “mining,” or using their computer to complete calculations. You can also buy them with dollars or nearly any other currency.
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Bitcoin is a digital currency. If you want to buy a camera for £250, then you need a way to transfer £250 to the seller. In theory, it doesn’t matter if you pay cash, write a cheque, email the money via PayPal or use bitcoin. In reality, you have to balance a range of factors including convenience, security and transaction costs. I’d use a credit card, if possible, because bitcoin payments are not reversible and offer no consumer protection.
Bitcoin Cash (BCH) is a hard forked version of the original Bitcoin. It is similar to bitcoin with regards to its protocol; Proof of Work SHA-256 hashing, 21,000,000 supply, same block times and reward system. However two main differences are the the blocksize limits, as of August 2017 Bitcoin has a 1MB blocksize limit whereas BCH proposes 8MB blocks. Also BCH will adjust the difficulty every 6 blocks as opposed to 2016 blocks as with Bitcoin.
One of those exchanges, Poloniex, argues pre-trading gives the crypto community the power to decide which coin they want to support. “We believe the responsible thing to do in this case is remain neutral and allow the community to decide which chain to support, and we want to empower the community to demonstrate their support through trading activity,” Poloniex said in a press release.
There isn't much liquidity in the bitcoin marketplace, relatively speaking, meaning that the volume of trading activity is relatively low. When liquidity is low, volatility is high. Some of the giants in the bitcoin world also own significant amounts of the cryptocurrency, meaning that they can move the price relatively easily by trading large amounts in a short period.
As the legend goes, in 2008 an anonymous developer published a white paper under the fake name Satoshi Nakamoto. The author was evidently a software and math person. But the paper also has some in-built ideology: the assumption that giving national governments the ability to monitor flows of money in the financial system and use it as a form of law enforcement is wrong.
These days, stocks in the US are regulated by the Securities and Exchange Commission, precisely, because in the olden days, there were many stocks issued that were much like bitcoin, marketed to unsophisticated investors as a get-rich-quick scheme. The very definition of this investor is: “Being more willing to buy something the more its price goes up.”
I registered with Blockchain.com to buy Bitcoins. Coinify was the road I had to go down to make the purchase on their website. It was my first experience in buying a cryptocurrency. Both Blockchain and Coinify gave me easy to follow instructions right from the word go. Even for a beginner like me, I had no problems with it whatsoever. During my purchase procedure with Coinify, although I was a little nervous, it all went as quick and smoothly as if I was buying something online on eBay or Amazon with Paypal and Credit Cards. Great experience. Can't wait to buy some more Bitcoins with Coinify. Cheers Guys! Coinify Did It For Me!