Cryptocurrency Transactions
You can invest in Bitcoin, Litecoin and Ethereum, the world’s new currencies that gain value day by day, at lower costs at Klas FX. Moreover, it is commission-free, leverage supported and with two-way transaction opportunities.
WHAT IS CRYPTO CURRENCY?
Cryptocurrency is basically electronic money or digital money. However, it does not have a physical equivalent like in online banking. It is a currency that can never be seen or touched except through digital screens. Cryptocurrencies are currencies that can be sent from person to person and are stored in completely secure virtual wallets, not affiliated with any country or authority. It is a global money transfer, payment and investment system that allows direct transfers from person to person rather than between banks. Cryptocurrencies, starting with Bitcoin, have now created their own market with many different types. Chief among these are Bitcoin, Litecoin and Ethereum. Cryptocurrencies, which have begun to be used as payment systems in many areas of life, are seen as the financial system of the future.
WHAT IS BITCOIN?
It is accepted that the Bitcoin system was founded by Satoshi Nakamoto in 2008. Bitcoin, which was launched experimentally, is the most popular member of the cryptocurrency market, although it is not affiliated with any central bank or official organization, it can be bought and sold with the currencies of countries and can be transferred without the need for any third party service or intermediary institution. The symbol of Bitcoin, which is launched as an alternative to the Dollar and Euro in global markets, is ฿ and its abbreviation is BTC.
While Forex markets can be traded 24/5, Bitcoin is ready for trading 24/7. While 5.5 trillion dollars of transactions are made daily in the Forex market, approximately 200 million dollars of transactions are made daily in the relatively smaller and new Bitcoin market.
WHAT IS LITCOIN?
Litecoin was launched on GitHub via an open source client in October 2011 by Charlie Lee, a former Google employee. Litecoin, which uses the Bitcoin infrastructure, is called Silver Bitcoin. While the value of Litecoin, which was launched in 2011 and is the fastest growing cryptocurrency after Bitcoin, was only 5 dollars at the beginning of 2017, its total market volume reached 17 billion dollars at the end of the year. Its price is cheaper than Bitcoin, and there are currently over 84 million Litecoins in the market, worth 5 billion 750 million dollars.
WHAT IS ETHEREUM?
It is the second cryptocurrency that remains consistent in its rise and has been adopted by many companies and organizations. Produced as an alternative to Bitcoin and running on the Ethereum network, which is similar to the Etherium network that performs the same transactions as the Bitcoin network, Ether was not designed to be a virtual currency. Ethereum was designed for payments on the Ethereum network. But later, when the project became popular, Ether became a virtual currency that could be bought and sold just like Bitcoin. Currently, Ethereum can be bought and sold in all popular virtual money markets. The difference between Ethereum and Bitcoin is that the virtual money to be produced is unlimited. The Bitcoin network is limited to a maximum of 21 million Bitcoins. In Ethereum, 18 million new Ethereum can be produced every year. According to current figures, it is worth 350 million dollars and there are over 120 million Ethereum in the market.
CAN BITCOIN BE USED LIKE PAPER MONEY?
It has been discussed for some time whether the Bitcoin virtual currency will replace paper money. It is clear that it is a currency that should be taken seriously; However, considering that it will replace paper money does not seem to be in the near future at the moment. But maybe he can also play for his throne.
HOW TO USE BITCOIN?
Bitcoin requires a virtual wallet. You can create this virtual wallet on your mobile phone or computer, or you can also benefit from web services on the internet. There is no wallet limit per person. You can create as many wallets as you want. Moreover, you do not need to provide your private information for the wallet you will create. You can receive money, send money and even shop with this virtual wallet you create. You can spend and shop the Bitcoins you purchase online. There are stores, restaurants and various companies around the world that use Bitcoin. You can reach these places through Bitcoin Travel and Bitcoin Navigator.
HOW RELIABLE IS BITCOIN?
Bitcoin is subject to certain protocols. Within the framework of these protocols, every transaction you make is encrypted. At the same time, Bitcoin has a solid transaction record memory due to its structure. The system has no security problems, except for situations that occur as a result of user error or carelessness, such as having your wallet password stolen or your computer being hacked. This is no different than losing your wallet or credit card or having it stolen. Due to Bitcoin crypto, it is not possible to spend the same money twice. The system confirms before the transaction that the money belongs to you and that it has not been sent to anyone else before. Therefore, it is not possible to create and sell Bitcoin in an uncontrolled and fraudulent way.
HOW TO BUY BITCOIN?
At Klas FX, you can trade foreign currency, gold, commodity and CFD products, as well as invest in Bitcoin, Litecoin and Ethereum, which are the cryptocurrencies we offer in our portfolio. Moreover, with lower costs, commission-free, leverage supported and two-way transaction opportunities. You can open an account at Klas FX with $150 and make cryptocurrency transactions with even $22. You can get detailed information from Klas FX Customer Representatives to invest in Bitcoin, Litecoin and Ethereum, the world’s new currencies that are gaining value day by day.
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