GAVIN S. FINNEY - Bitcoin: Beginners Simplified Guide to Make Money with Bitcoin

Bitcoin:

Beginners Simplified Guide

to Make Money

with Bitcoin

Gavin S. Finney

Copyright 2018 by Gavin S. Finney - All rights reserved.

The contents of this book may not be reproduced, duplicated or transmitted without direct written permission from the author.

Under no circumstances will any legal responsibility or blame be held against the publisher for any reparation, damages, or monetary loss due to the information herein, either directly or indirectly.

Legal Notice:

This book is copyright protected. This is only for personal use. You cannot amend, distribute, sell, use, quote or paraphrase any part or the content within this book without the consent of the author.

Disclaimer Notice:

Please note the information contained within this document is for educational and entertainment purposes only. Every attempt has been made to provide accurate, up to date and reliable complete information. No warranties of any kind are expressed or implied. Readers acknowledge that the author is not engaging in the rendering of legal, financial, medical or professional advice. The content of this book has been derived from various sources. Please consult a licensed professional before attempting any techniques outlined in this book.

By reading this document, the reader agrees that under no circumstances are is the author responsible for any losses, direct or indirect, which are incurred as a result of the use of information contained within this document, including, but not limited to, errors, omissions, or inaccuracies.

What This Book Will Teach You

Are you curious to learn about making money from Bitcoin but unsure where to start?

Have you always wanted to learn more about Bitcoin, but are intimidated by the technical jargon being used?

If these questions relate well with you, then this book is for you. In this book, you will find the basic essentials to learning about Bitcoin. This book introduces readers to the investing side of Bitcoin, the ins and out, the various processes and steps involved in it.

Who this Book is for

This book contains information on how to learn about Bitcoin from a beginner level.

Readers who can benefit the most from the book include:

• Individuals interested in making money from Bitcoin
• Investing enthusiasts who want to learn about Bitcoin as another possible source of income
• Readers who would like to know information about Bitcoin

How this Book is Organized

This book is organized into three parts. The parts are best read in chronological order. Once you become familiar with all the steps outlined in the book, you can go directly to the techniques which apply to your current situation the best.

The three parts of the book are:

Part One outlines the essential topics on Bitcoin. The section also talks about how important it is to learn these topics as a beginner in order to form a solid foundation in doing the right steps from introductory concepts to making your first Bitcoin transaction.

Part Two is about the Investing and Trading side of Bitcoin and what investing mistakes you can avoid in order to help minimize the chances of you losing your money. Youll learn how the process works and how to implement the steps discussed.

Part Three are the other important topics on Bitcoin such as:

• Risk Management Essentials
• Bitcoin Mining Essentials

After each chapter, you will be provided with lessons and exercises in order to leverage the information found on this book.

By reading and implementing the steps outlined on this book, you will be able to understand Bitcoin essentials in helping you achieve your money-making goals.

Introduction:

I would like to thank you for purchasing this book, Bitcoin: Beginners Simplified Guide to Make Money in Bitcoin.

Cryptocurrencies have been around for a while, and it is the collective term used for referring to digitized currencies that are encrypted cryptographically. The first cryptocurrency was invented in the year 2009, and it is known as the Bitcoin. These decentralized and digitized currencies have the power of changing the world of trade and commerce. All the systems of fiat currency that are in use at present need the involvement of a controlling authority for their production, management and control.

Instead, cryptocurrencies are formed on a peer-to-peer trading model, which eliminates the need of all intermediaries in their functioning. There are plenty of benefits that Bitcoins offer that goes beyond the ease of usage and efficiency.

In this book, you will learn the basics of Bitcoin, its history, benefits of using Bitcoins, about investing in Bitcoins and storing Bitcoins.

If you are interested in making the most of the digital revolution that has taken the world of finance and commerce by storm, then it is essential that you understand more about Bitcoins. So, let us get started now.

Chapter 1:

What is Bitcoin?

C hapter 1: What is Bitcoin?

Bitcoin refers to a cryptocurrency that is created and is held in an electronic form. There is no regulatory authority or a centralized body that controls it, unlike all the other kinds of fiat currencies we use. Unlike fiat currencies, Bitcoins arent printed, and they dont exist in a tangible form. A network of users who are spread all over the globe controls Bitcoins. The system makes use of a set of complicated mathematical equations along with an extensive web of computers for its functioning and maintenance.

The first cryptocurrency that was invented is the Bitcoin, and it was created by an anonymous entity- Satoshi Nakamoto. Just like any other form of fiat currency, even Bitcoins can be made use of for acquiring other commodities. However, an essential differentiating factor between Bitcoins and conventional money is that the former is decentralized. A decentralized network means that no central or regulatory authority is responsible for controlling the network. It also says that all the users of the system are the only ones who are in control of their funds instead of an intermediary.

Satoshi Nakamoto, an anonymous software developer, proposed the idea of Bitcoins when he published a white paper describing the working of a digitized currency functioning on a peer-to-peer network. Nakamotos design was the creation of a form of money that doesnt need a central authority for its functioning and is capable of being transferred somewhat automatically and instantly. Since Bitcoins dont exist in a tangible form and are created digitally, they cannot be printed. Fiat currencies provide banks and other central regulatory authorities with the power of minting more money to cover any financial debts of the economy. Anyone is capable of joining the Bitcoin network.