How Hard is It to Learn About Bitcoins by Yourself? – 2021 Guide
One of the most interesting topics in this day and age is, without any doubt, cryptocurrency trading. We can see that more and more companies from all over the world have started accepting it as a legal method of payment. It doesn’t matter that there are almost no countries who recognize this concept in their legal systems, they are widely used. Surely, you’ve heard that the blockchain system is a foundation for almost every digital currency we now have, not just Bitcoin.
Therefore, it wouldn’t hurt you to learn about it a little bit before you start trading. As you can imagine, this is a system that has reached its full potential yet. According to some experts, we can see that cryptocurrencies are not the only thing that we can use the blockchain system for. However, these experts and people who worked on this system will need to work more in the future to get a full understanding of its potential.
Even though this is a topic for a completely different time, we feel it’s important to point it out because of our today’s topic. We would like to talk about how hard it is to learn about Bitcoins all by yourself. Thankfully, some sites can offer you all sorts of help when it comes to this popular crypto. If you are interested in taking a look at one of these, be sure to visit this site. Nevertheless, we would like to address the question about learning it on your own. Without further ado, let’s get started.
Mastering the Basics
Bitcoin is a digital currency, designed for paying for services and goods, like any fiat currency in the world. However, it should be said from this point, these two concepts don’t have many similarities. What makes them different is that Bitcoin is a decentralized currency, which means that it doesn’t have any authority over it. Meaning, there’s no country that controls it, like the US controls the Dollar, or Russia controls Ruble.
Also, this is a digital currency, whose entire life is online. Basically, traders sell them on the market and withdraw the money they need. Talking further about this segment would mean that we are breaching the line between basic and advanced. Last but not least, we would like to say that Bitcoin is a pseudo-anonymous currency, which means that it is not tied to your personal data. In fact, it is tied only to the e-wallet. Before you go any further, you will need to know these basics.
Is it Hard to Learn it?
When addressing this question, we would like to say that there’s no definite answer. Some people couldn’t understand it after three hours of talk and education. At the same time, we can see that some people are able to understand it completely after just half an hour. Therefore, this solely depends on how prepared you are to learn, do you have any prior knowledge, and last but not least, are you interested in this topic at all.
However, to master this topic completely, any person will need to invest a significant amount of time. In a couple of years, it wouldn’t be a mistake for them to call themselves Bitcoin experts. There are a lot of sources from which you can obtain knowledge about this concept. Sadly, we can see there are courses that offer their attendees to learn all there is to know about BTC in three or six months, which is not possible for most people, believe us.
Where Can You Learn About It?
Despite all the bad examples we can see around us, there’s still a good number of sources from which you can obtain some serious knowledge. For starters, we would like to talk about books you should consult. We are talking about books written by Andreas M. Antonopoulos, Jack Tatar, Chris Burniske, Abraham K. White, Phil Champagne, and Newman Williams. Naturally, they are not the only ones. But we feel these authors are more than enough for starters.
Furthermore, you can learn quite a lot about Bitcoin by attending credible courses. How can you see if they’re credible? Well, you can take a look at online reviews and testimonials. You should be fully aware of the fact that there are courses that are faking their results by buying false testimonials and reviews. Therefore, you need to be absolutely sure you can trust them. What you must do is conduct research that can provide you with some significant results at the end.
How Should You Start?
After you’ve accumulated knowledge about this concept, you should start your participation at the market a little bit. The first thing you should do is to download an e-wallet. Basically, you have an app from which you will be able to send and receive your coins. Furthermore, you will be able to take a look at the history of your transactions and be fully aware of the fact where you’ve sent your coins.
What you need to know is that there are a plethora of different wallets for you to choose from. We would advise you to choose the one that doesn’t offer you much than a couple of the simplest actions. That way, you will be able to avoid creating problems by clicking on something you don’t know about. After you’ve mastered the basic level, you will be able to use the more complex functions of these apps.
As we’ve said, the answer to the question about how hard it is to learn about BTC on your own is not definite. It depends on the person and his ability to understand the concept. However, we wouldn’t recommend anyone to learn on their own. The reason being there’s so much literature and great courses where you can obtain the knowledge without wasting your time at all. To find these, you just need to Google them, and we are sure that this research will not take too much of your time to learn all about it.