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4 Ways to Capitalise on Bitcoin

Bitcoin has been around for long now (though relatively short but for this kind of growth it's long enough). If you haven't still made benefits for yourself already. Here's a quick look on how you can. Read ON!
Bitcoin is undoubtedly the most successful of all the cryptocurrencies. It’s a form of digital currency where techniques of encryption are used to control the creation of bitcoins, as well as to verify transactions.

Enthusiasts include Microsoft founder Bill Gates, Virgin Group founder Richard Branson, ex-Google CEO Eric Schmidt., and ex-vice president turned environmentalist Al Gore.

Here are four ways to take part in this century’s most significant financial revolution.

1. Leverage the technology behind it

Blockchain is the technology that makes bitcoin possible. A large number of financial institutions are hoping that the system of blockchain recording can secure, improve, and speed up transactions, as well as eliminate fraud and reduce costs. Other organizations are looking for ways to leverage the technology for their own operations. This provides an opportunity for entrepreneurs to find ways to leverage this technology for the purpose of developing improved services and systems for these very organizations.

2. Invest

One of the reasons that bitcoin has become a popular form of investment is due to its limited number. The number of bitcoins set to be mined has been capped at 21 million. There are currently 17 million bitcoins in circulation, with four million still to be mined. This limited number has made bitcoin attractive to investors. Savvy investors can profits from bitcoin’s constantly changing price, although that price has been extremely volatile thus far.

3. Provide solutions for acceptance

One of the main challenges facing Bitcoin in terms of its long-term survival is its acceptance among non-users. Those who currently own the digital coin are literally invested in its future performance. If you can find a way to make it understood on a wider scale to the point where its acceptance is increased among the public, you could be onto something.

4. Engage in services

A) Bitcoin Exchange
Also called payment processors, there are a number of bitcoin exchanges that create services for processing payments for vendors. Such tech giants as Dell, Microsoft, and Amazon use these services. The more popular exchanges include Coinbase and eToro. Coinbase reviews, as with other reviews, look at such factors as which types of wallets are available and the speed of transaction: two of the most important aspects of an exchange.
B) hardware or digital wallet services
All bitcoin owners need somewhere secure in which to store their coins. Right now, they’re storing them in a hardware or digital wallet, much like a virtual bank account. However, hackers pose a constant threat to digital wallets. Online security of digital wallets will likely be key for the future of bitcoin. To protect bitcoins, cold wallets are a valid alternative to digital wallets. These are hardware wallets not connected to the Web, which ensure they stay out of the hands of hackers. 
These are just four of the ways in which you can take part in the cryptocurrency bitcoin revolution. None are without risk, however, so ensure that you conduct your own research, get to grips with the technology, and perform sufficient due diligence before diving in.

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Any facts, figures or references stated here are made by the author & don't reflect the endorsement of iU at all times unless otherwise drafted by official staff at iU. This article was first published here on 21st September 2018.

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