Bitcoin is the centre of attention in the recent period. For the first time in history, Bitcoin managed to reach a milestone that no one/nothing has reached before – become as valuable as gold. As of late February, Bitcoin is valued at around $50 000 per unit, which is quite a mesmerising number.
Not only that, but Bitcoin learned from past mistakes and managed to remain stable and continue going up for more than three months. Just to compare, after Bitcoin reached a record-breaking value in 2017, its price plunged in two days. That is not the case this time. 2020 was a year in which Bitcoin was very stable and climbed at a decent pace, but in the last couple of months, its value sky-rocketed and didn’t manage to crash, which is quite impressive.
We are all familiar with the fact that even though Bitcoin has tons of advantages over FIAT currencies when it comes to online payments, most people use it to make a profit. They mine it, then sell it at a certain price. In this press release, we decided to take a look behind the scenes and explain some of the technologies and methods with every transaction. Let’s begin.
Trading sites help sellers
Most of you are familiar with the fact that trading sites are the platforms where traders sell their Bitcoins. But, did you know that they help you maximise your profits? Let us explain how.
Trading sites have AI systems that analyse the market and collect data on Bitcoin. The more sophisticated the AI system is, the better the analysis will be. One of the trading sites that has the most advanced AI system is cryptoengine.io. The AI system here takes all the data about Bitcoin and uses it to predict its future fluctuations in value.
After the analysis is completed, the information is supplied to you (the seller) and you gain knowledge on when is the best time to sell your assets and earn the maximum amount of money. The fact that the daily profitability rate at Crypto Engine is very high lets us know that their software is very effective in what it does.
Explaining the anonymity
Bitcoin users are provided with a certain level of anonymity when they make transactions. Anonymity is one of the biggest advantages that Bitcoin has over FIAT currencies. But, how do users gain it?
The answer lies in cryptology. Cryptology, or also known as cryptography, is a method that uses codes as a means of communication. The real information is hidden within the codes so that unwanted third parties cannot gain access to it. Due to this method, the real identity of the users remains hidden in the eyes of the public, whenever they make a transaction. Keep in mind, though, cryptology does not provide you with full anonymity.
What about Bitcoin’s security?
Conspiracy theorists and Bitcoin disbelievers will state that this crypto-currency is not secure and each transaction often leads to a scam, which is not true. First of all, users gain a very high level of online security with the aforementioned cryptology method.
Not only that, but Bitcoin's security software is very advanced and unwanted people can't crash the party. The fact that Bitcoin has never been hacked speaks to how good and effective its security system is.
Who controls Bitcoin?
Whenever you make a transaction with credit cards, banks are often the middlemen that process the payment. So, banks control each transaction made with these methods. But Bitcoin is not controlled by any centre. This is a highly decentralised crypto-currency that is controlled by everyone who uses it.
That is why people void all added fees by banks and save money with each transaction.
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