National Computer Repair

Experienced in computer repair, data recovery, and a love for all things geek.

Tag: cryptocurrency

Why Now is the Best Time to Invest in Bitcoin

Chances are more than likely you’ve heard of Bitcoin being talked about in the news or on social media, and probably even more so in the last few years. Bitcoin was born in 2008 at the depth of the economic recession and was laid out as a concept of decentralized, digital currency. Follow along this month as we discuss why investing in Bitcoin now holds more promise than it ever has before.

What is Bitcoin?

Bitcoin is monetary currency, more specifically a type of cryptocurrency. Cryptocurrency refers to a type of money that is completely digital or virtual, and in other words is completely intangible. This new type of cryptocurrency is thriving because enough people have agreed on its value and are willing to trade goods, services, traditional currency to acquire it.

Benefits of Cryptocurrency

When comparing cryptocurrency to traditional types of currency there are many unique benefits to consider. Some of the most notable benefits include:

  • No transaction fees
  • Faster transactions
  • Confidentiality with purchases
  • Much simpler international purchases and exchanges

Bitcoin in 2021

Within the first quarter of 2021 Bitcoin has more than doubled in value and price, and as of April Bitcoin reached its all-time highest yet. This means that the current value of a Bitcoin is at $62,124.71, up from $6,838.37 only a year ago. Also as of this month Coinbase made its public debut on the stock market through a direct listing, a landmark moment for cryptocurrency that unveiled a huge number of hungry investors. Coinbase is the largest crypto exchange in the U.S. and has been credited with bringing crypto into the mainstream.

Final Thoughts

While the first few years of its existence Bitcoin held little to no value, today it is one of the most talked about and promising types of currency in our history and future. So what are you waiting for? Get in on the action and start investing in Bitcoin today! Visit National Computer Repair in Madison, TN to purchase Bitcoin in store and have them within minutes. Call us at (615) 826-7550 any day of the week for more information.

All about Bitcoins

Bitcoins are all over the media, yet even with this ubiquity, few people understand what a bitcoin actually is. A bitcoin is monetary currency, more specifically a type of cryptocurrency. A cryptocurrency denotes a type of money that is completely digital or virtual.

To understand this, you need a short briefing on how currency works. In America a dollar has value because it’s backed by a commodity or something that people agree has value. Similarly, people are willing to trade goods, services, traditional currency and more for bitcoins.

What does a bitcoin look like?

There is no actual physical currency, which is why it is a harder concept to grasp. However, all transactions are kept in a public ledger known as a blockchain. Each bitcoin is represented by its own computer code or file.

Some people believe the public ledger that tracks all bitcoin transactions makes bitcoins a more secure form of currency because their use is completely public and transparent. This interesting feature does make it much harder to create counterfeit bitcoins and one of the reasons many people are beginning to use bitcoin currency.  Another benefit to bitcoin currency is that it is not backed by a single government. This decentralized form of money theoretically makes it easier for transactions to flow between individuals all over the world.

Is it possible to steal bitcoins?

In a word, yes. Just like any currency, theft is possible. While the threat of counterfeit is low, some individuals have unfortunately had their bitcoin codes stolen through cyber theft. This could involve hacking a website or app that stores your bitcoins.

Can I lose my bitcoins?

Of course, there’s also human error. Have you ever lost your wallet by leaving it at a restaurant, amusement park or other place? Well, if you accidentally delete your digital wallet and don’t have a backup of the information somewhere, your bitcoins are lost. It’s a different form of losing your “wallet” but the results are the same.

Bitcoins fluctuate in value just like any currency. Many people are investing in them in much the same way people invest in gold, oil or other valuable entities. Would you like to buy bitcoins? If so come down to National Computer Repair’s brick and mortar location and purchase your own bitcoins today!