What is Bitcoin?
Bitcoin is a cryptocurrency, which means that it can be traded through the means of technology via personal wallets. Bitcoin can be used to pay for products or services, with more and more companies accepting cryptocurrencies as an accepted form of payment. Anyone can setup one of these said “wallets” and trade a currency, such as GBP for a certain amount of Bitcoin.
Bitcoin’s price is getting more and more expensive every year due to cryptocurrencies becoming a universal way to pay for products and services. As more companies accept Bitcoin, more consumers will purchase the crypto, meaning the demand for the crypto will increase, causing the price to inflate. Of course, like with any stock, when people sell Bitcoin the price will decrease, but in general the price of Bitcoin is rising.
January 2021 Bitcoin Boom
As of writing this article Bitcoin is currently sitting at £26,000 for one Bitcoin, which is one of the highest prices Bitcoin has ever been. Only weeks ago it hit an all time record of £29,000, this gave the crypto massive publicity in the media and on social networking sites, where users could not believe there eyes as they saw the Bitcoin price continue to rise.
I saw my Bitcoin wallet increase over 400% compared to December due to these massive price influxes. A lot of people I saw on social media really wished they had invested in Bitcoin before the price increased so dramatically. To help prevent that from happening to you we have setup a guide below to help you invest before it is too late.
How can I invest in Bitcoin
There are many websites that you can find to setup a Bitcoin wallet because it is so popular. However, the site we recommend is Uphold, they have a very easy to use interface and funds transfer instantly with no fees.
Simply start the setup on the create an account page, which only takes a few minutes. Make sure you have photo identification ready, as Uphold does require it for security purposes because it is technically an online bank.
How to get money to invest
Previously we have talked about the impact Covid-19 has had on the economy and how to survive through it, so we understand that some people may not have the money to invest in the crypto, that’s why we have found an easy way to earn money for just downloading a piece of software! Simply download the Brave browser and run through the steps to install your new browser. The browser is build on Chromium which means if you already have Chrome, you will barely even notice a difference between the browsers. However, Brave has a few advantages compared to Chrome:
- It’s faster
- It’s more secure
- You can make money from ads
The adverts are not intrusive at all, they are just a notification every now and then (you can decide how often). You will be paid for the amount of ads that you receive per month. Do you want to know the best part? The money goes straight into your Uphold account because Brave is partnered with Uphold! This means you can easily transfer your BAT (Brave Ad currency) to Bitcoin to start investing.
We hope that you have learnt something from this blog post! If you do have success from this method make sure to tag our Instagram and we will repost your success story.