Bitcoin is gaining traction, especially in 2021 when its market cap has surpassed $1 trillion; an increased number of retail as well as accredited institutional investors are looking to add BTC to their portfolios or obtain Bitcoin for the first time.
When it comes to investing in BTC, there are many different ways of getting BTC, but here we will explore the main advantages of one of the most popular and accessible ways of obtaining BTC through online trading.
Bitcoin Vs. Exchange Platforms
Bitcoin is created as a virtual currency that is decentralized, and BTC transactions are conducted on the blockchain network. From its beginnings, the main way which allowed any user to grab BTC was through mining on the network, or another available option was a deal between users on a forum like Bitcointalk.
However, there were some other options available, as the market was still pretty undeveloped, and there wasn’t a substantial number of users that supported the BTC. Of course, that changed over the years, and as more businesses and organizations, supported BTC there was a real need for an online trading platform which would be the main marketplace where consensus regarding the price of Bitcoin will be established.
The first exchange site that was developed was the Bitcoin market in 2010, and it didn’t last long, but a lot of new crypto exchange sites followed. Today there is a vast number of secure online training sites where you can get a BTC that is powered by advanced technology.
Automated Trading Sites
Online trading sites are popular because they are accessible, convenient, and there are plenty of options available for all kinds of investors.
For example, automated trading systems like Bitcoin Equalizer are definitely taking off and attracting numerous users, especially beginners, when it comes to Bitcoin trading. Automated trading platforms help users earn daily profits without taking much of their time.
Actually, the platform requires absolute 20 minutes per day to set up your account, and the rest of the trading process is done for you. Plus, they also provide handy trading guides to help you get started.
Online Trading Sites vs. Mining
Beyond the advantages of most trading platforms, as they are mobile-friendly, allow you to trade on your own schedule and on the move, a lot of trading sites are available to anyone that has an Internet-enabled device and stable connection. But trading sites will not replace mining because the process of Bitcoin mining is essential for the existence of Bitcoin and the blockchain network.
When miners add new blocks of transactions to the network, they also ensure the network remains stable and secure while verifying the transactions, and with that, new BTC is included in the network. Even though there are a lot of aspects that make mining increasingly time-consuming, difficult, and tedious, the miners are still motivated to mine as part of mining pools and farms because they are the ones who get to decide on the fate of the blockchain network.
But, still, we cannot overlook the negative aspects of mining that include increasing costs of mining such as high-end computer systems, electricity, time, and energy that the miner needs to invest before is able to reap the block reward. Otherwise, the block reward in itself is getting halved every four years, so that also needs to be taken into account.
Overall, obtaining BTC on trading sites is an accessible, fast, and secure way of getting BTC, than mining or working as a freelancer in exchange for BTC, for example. Most of the trading platforms make obtaining BTC even more accessible by providing free Bitcoin wallets, and even if you need to do your own research and find a reputable and secure platform, there are plenty of options available to help you add BTC to your portfolio.
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