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You want to start investing in Bitcoin?

... and don't know how?

This page is for all beginners who have heard about Bitcoin and cryptocurrencies but don’t know where to start. We are here to take you by the hand, make sure you don’t make any beginner mistakes and don’t get robbed of your money by fraudulent sites.

To save you time, we have compiled some of the most important questions for you (click on the question to see the answer):

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  • What is Bitcoin?
  • Why should I invest in Bitcoin?
  • How safe is Bitcoin?
  • Will Bitcoin prevail as a currency?
  • Is Bitcoin mainly used by criminals?
  • Where can I buy cryptocurrencies?
  • How do I store cryptocurrencies securely?
  • Which cryptocurrency is the best?
  • Do I have to pay taxes with crypto?
  • Will Bitcoin be banned by authorities?

What is Bitcoin?

  • Bitcoin was developed in 2008 as the currency of the Internet (cryptocurrency).
  • Unlike conventional currencies, such as the dollar, euro or Swiss franc, the Bitcoin currency cannot be printed at will by central banks.
  • The number of all Bitcoin ever in existence is limited to a maximum of 21 million units.
  • Since supply was significantly lower than demand, bitcoin was able to benefit from extreme price increases in the past.

Why should I invest in Bitcoin?

  • Bitcoin works independently from the traditional banking system and is therefore inflation-proof, counterfeit-proof and uncensorable.
  • Bitcoin is a fundamental new technology that can store and send monetary values. Bitcoin is also called “digital gold”.

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How safe is Bitcoin?

  • Bitcoin cannot be counterfeited and hacked
  • Wealth through an investment in Bitcoin is not guaranteed, however, hype and bubbles often occur, allowing you to profit greatly.
  • In the long term, Bitcoin shows a good upward trend, which is why a long-term investment will probably be worthwhile.

Will Bitcoin prevail as a currency?

  • It cannot be ruled out, but it is very unlikely that Bitcoin will become the sole future world currency.
  • It is very likely that Bitcoin will remain an alternative to state-issued currencies, as it has been in the past.
  • Bitcoin is currently more of a store of value and not necessarily optimized for daily use as a means of payment (similar to gold). Because of this, Bitcoin is also called “digital gold”.
  • There are now many alternative cryptocurrencies, so-called “altcoins”, which, at least on paper, would be better suited to becoming a global currency. However, this is also rather unlikely.

Is Bitcoin mainly used by criminals?

  • – You can store cryptocurrencies directly on the exchanges where you bought them (analogous to a bank account). Danger is an attack / hack on the exchange. Your coins can disappear at any time.
  • Mostly, this fraction of transactions is due to scams. Highly illegal activities are usually not paid for with Bitcoin.
  • So-called “privacy coins” prefer to be used for illegal activities, which is why Bitcoin is not the first choice. One example is Monero (XMR).
  • Bitcoin is not as anonymous as many think. Criminals know that Bitcoin is not as annonymous as many think, which is why most of them are abandoning Bitcoin.

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Where can I buy cryptocurrencies?

  • Bitfinex  (Register with Bitfinex)
  • Coinbase (Register with Coinbase).
  • Register with Coinbase (In German (Anleitung bei Coinbase registrieren))
  • For a wide selection of cryptocurrencies, you should also consider registering on Binance (Register with Binance).

Recommended exchanges to buy crypto

Exchange

How do I store cryptocurrencies securely?

  • You can store cryptocurrencies directly on the exchanges where you bought them (analogous to a bank account). Danger is an attack / hack on the exchange. Your coins can disappear at any time.
  • So-called hardware wallets are the best alternative to crypto exchanges. There you have complete access to your cryptocurrencies. They are also almost unhackable, because only you have the private key. An example of hardware wallets are Ledger
  • Online wallets can also be used. However, you should make sure that only you have the private key. Otherwise, the wallet can be hacked just like a crypto exchange.
  • If you are not sure if the crypto exchange is reputable, you should always withdraw your money to a wallet.
  • Unreputable exchanges get hacked or are suddenly all over the place with all their deposits.
  • What is a wallet? (In German Wallets für Kryptowaehrungen), Which wallet should I use? (In German Welches Wallet waehlen), How do I set up a wallet securely? (In German Kryptowaehrungen sicher aufbewahren), What is the most secure wallet? (In German Was ist das Sicherste wallet)

Which cryptocurrency is the best?

  • Opinions are different. All cryptocurrencies have their advantages and disadvantages.
  • The most popular cryptocurrencies are Bitcoin, Ethereum, Cardano, Binance Coin and Polkadot.
  • There are several cryptocurrencies. Some specialize in decentralization, speed, and others. One should differentiate between the points.
  • The most secure as well as most popular cryptocurrency is Bitcoin. Whether it is the best remains open. It is definitely the safest of all.

Do I have to pay taxes with crypto?

  • In principle, profits from cryptocurrency transactions are also subject to tax.
  • Since we are no tax advisors, we recommend to consult an external source if necessary.

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Will Bitcoin be banned by authorities?

  • Due to its decentralized nature, Bitcoin cannot be banned at all.
  • Many states cannot ban Bitcoin due to its decentralized nature, which is why they create frameworks.
  • In the EU, a ban on Bitcoin is very unlikely. Other countries, such as China, ban Bitcoin because their policies are different.

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EARN MONEY WITH CRYPTOTICKER PREMIUM!

The high volatility of digital currencies has made many investors rich since the beginning of the crypto era. These types of investors were not only Wall Street traders with Harvard degrees, but also ordinary people who realized the potential of these technologies early on and invested in them. However, with quick wins often come quick losses, scammers and rip-offs. Without a trustworthy partner, it is very difficult to make profits with cryptocurrencies in the long run and not fall for scammers as a beginner. We, CryptoTicker.io, have been providing daily information about the crypto market since 2015 and since then we have been able to form a group of experts that can shine with knowledge in any area of the crypto industry. Be it medium or long term investing, technical and fundamental analysis, swing and day trading or even an excursion into the technology behind the various projects and networks, for all that CryptoTicker is your serious contact!

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