What is meant by a Bitcoin coin?
Bitcoin Coin obviously has got to do with the cryptocurrency Bitcoin. As a flexible and digital method of payment, Bitcoin has earned an excellent international reputation in recent years. This was underlined by a significant increase in the price of the coin during this period – even the magic limit of $10,000 per unit has been broken.
It is even conceivable that Bitcoin will soon replace all traditional means of payment. After all, crypto money is available internationally; it’s a prerequisite for survival in a globalized world. But what exactly is a Bitcoin? There are two aspects of Bitcoin: first, a unit of the digitally available coins; and secondly, the physical Bitcoin coin.
The latter is a coin made of different metals, always following the same design. This characteristic design is always used when, for example, the coin is reported in the media. Physical Bitcoin coins don’t have any value beyond their material, but are very popular with collectors.
Some of them were and are still sold with an imprinted Bitcoin address, which can then be searched for coins. First and foremost, the physical coins are, as stated, collector’s items. They can be given to children as a gift or serve as a symbol for owners of digital coins.
Who can buy Bitcoin coins?
You must be over 18 in order to acquire digital Bitcoins. This is definitely not the case with physical coins. These can be purchased by all fans of the currency, regardless of age. However, as they are primarily collector’s items, purchasing them is quite tricky.
Only a few copies were marked to date, and only by a few manufacturers. As the motif of the Bitcoin coin is not protected by trademark law, every company can produce their own. The purchase of virtual Bitcoins that can be used as a means of payment is significantly easier.
There is a variety of exchanges solely for this purpose. All that is necessary is a registration on the portals. After entering your personal data, your Bitcoin adventure can begin. As part of a swap, traditional money is converted into coins.
Common means of payment, such as credit card or bank transfer, are accepted by the majority of stock exchanges. Even a direct trade of Bitcoins is relatively easy to implement. The downside: there is certainly a risk of criminal activity. Hedges are practically non-existent. For this reason, you should never engage in a trade with strangers.
Reasons to buy a Bitcoin coin
Investing in digital Bitcoin can make sense for a variety of reasons. Primarily, of course, this crypto money represents a particularly secure and anonymous means of payment in the network. Undoubtedly, there is the possibility that the coin will replace the traditional payment methods in the future.
Today’s investors will already be part of an exciting future with a purchase. Secondly, the Bitcoin is suitable as an investment with high-profit potential. In recent years, digital money has triggered a veritable boom. It’s even been compared to the Californian gold rush!
Of course, anyone wishing to participate in this boom shouldn’t drag their feet. The purchase also gives users a sense of security. As soon as the first online stores switch 100 percent to Bitcoins, it’s going to be an advantage to be prepared for the new situation.
Incidentally, the prospect of returns is also convincing many large companies to invest in this coin, and rumor has it that the well-known Silicon Valley founder and investor Peter Thiel is planning an entry. If a Bitcoin coin is too expensive, you can opt to buy a part of it. As it is a digital currency, this is a simple matter.
What is the value of a Bitcoin coin at the moment?
To purchase an entire Bitcoin, investors now have to put more than $10,000 on the table. In addition, the coin is subject to daily and sometimes hourly fluctuations. These arise when there is a change in supply and demand. On the day of the entry of a major investor, there is usually a strong price increase.
Conversely, large sales depress the price, at least for a while. Incidentally, it’s impossible to make serious predictions about future prices – one would need a crystal ball for that! However, rough trends can be accurately forecast. In the case of Bitcoin, this knows only one direction: upwards.
In early 2017, a digital Bitcoin coin cost far less than $1,000. The following year, a price increase of over 1,000 percent astonished even observers who had long predicted the Bitcoin would rally. If you want to participate in the future development of the coin, it is better to start as early as possible.
With the physical Bitcoin coin, the value is, as mentioned, limited to that of the material. Exceptions are physical coins that have been provided with a Bitcoin address.
The Bitcoin as a coin – a summary
The term “Bitcoin coin” means two things. Firstly the golden Bitcoin logo in the form of a physical coin as seen in the media. Secondly, a single unit of this digital currency. For the latter, investors must currently invest more than US $10,000, while physical Bitcoin coins can be purchased for a few dollars.
The latter should be regarded as pure collector’s items. Although not official, physical Bitcoins are sometimes sold with digital content. With such a purchase, however, caution should always be exercised.
Alexander Weipprecht is the managing partner of Provimedia GmbH. As a trained IT specialist for application development, he has been advising leading companies on the following topics for more than 10 years: online marketing, SEO and software. Cryptocurrency is becoming increasingly important to businesses and investors. Through Coin Report and Krypto Magazin Germany, Alexander wants to give all people easy access to the subject matter.