When it comes to Bitcoin, people generally fall into one of two camps. Either you've heard the name "Bitcoin" whispered like some holy savant lurking in the shadows, or you've heard it being screamed from the top of rooftops all over the world.
Either way, you've heard about it. Despite being a technological innovation that is out of the understanding of 99% of the people on Earth, it has still garnered a level of popularity and a reputation that has allowed it to become a household name. No matter where you first heard about Bitcoin, what matters is that you're here. You're ready, willing, and able to start investing in Bitcoin yourself, and as a result, investing in the future.
Bitcoin Gemini is here to help you do just that. We're the definitive global experience for beginner Bitcoin traders worldwide, and all of our community members agree. With Bitcoin Gemini, you're getting a fully developed and operational trading platform that is built to cater towards newer traders who aren't used to all of the technicality you're going to find on the major crypto brokers out there.
You're not going to know what a candle is, a wick, levels, or how to identify trends, and with Bitcoin Gemini, that's okay. Of course, you might come from a trading background where all of these terms are a part of everyday life. In that case, don't worry, Bitcoin Gemini is still for you.
If you're new to Bitcoin or trading in general, we're going to help simplify both the technology on display as well as the science behind the actual trading of the coin.
The thing about Bitcoin is that it's not just some novelty, nor is it merely a tool for you to trade and profit off of. Bitcoin has been hailed as digital gold, and that description is very apt. It's a solution to a large chunk of the modern economic crisis that all major economies on Earth are facing today.
That's why we're seeing so many major conglomerates and institutions begin to use Bitcoin in day-to-day operations. Banks have begun using it to facilitate overseas transactions, governments are trying to use it to set up a digital reserve, and various economic executive bodies around the world are seeking to introduce regulations that are going to make it more appropriate for everyday usage.
In 2021, in particular, we're going to see a ton of regulations on Bitcoin coming out of the US, Europe, Asia, as well as every other major economic zone on the planet. By regulating the currency, these countries are legitimizing it, preparing to use it to gradually replace and fix the issues that all major fiat currencies are currently facing.
For that reason, an investment in Bitcoin isn't just a trade to make a quick buck. Instead, it's an investment in the future. You're preparing your own reserve of Bitcoin before the world does, allowing you to get on the proverbial rocket before it blasts off for the moon.
With Bitcoin Gemini, you can make that investment in a safe and controlled environment that's going to allow you to comfortably dip your toes in the Bitcoin waters rather than diving in without knowing how to swim.
All this talk of how great Bitcoin is means nothing if you don't actually know what it is and what it does.
Bitcoin is a digital currency. It's like the dollar or euro, with the exception that there is no physical representation of value. You can't carry it around with you like you can with those currencies. There are no notes or coins. Instead, every unit of Bitcoin that you have exists solely in digital form.
Just because it's a currency doesn't mean that it operates like these other currencies on the Forex, though. Rather than having price movements, Bitcoin moves much more similar to extremely volatile gold. That's because Bitcoin and gold share more similarities than Bitcoin and the dollar.
Bitcoin, like gold, is a finite resource. The Bitcoin blockchain is hardcoded to stop producing Bitcoin after a certain number of units are created. That feature of Bitcoin is what makes it such an effective currency compared to the euro and the dollar.
Remember that gold was the original world currency. Even today, it acts as the backing for the majority of wealth in the western world. There has never been a more stable or economically sound currency than gold, so a gold for a digital age obviously sounds incredibly enticing.
That's what Bitcoin is, but let's talk about how it works.
As a result of its digital nature, you can't walk down to the shop and buy your groceries with Bitcoin. Instead, you can only use it for transactions that take place digitally. Even then, not all retail outlets accept it. That's likely to change in 2021, though.
Aside from that, it works more or less like any other traditional currency that you're already used to. You can buy things with it, accept it as payment, and so on.
The fact that it's digital, though, means you can't store it in a wallet, and you definitely can't store it in a bank account.
Instead, Bitcoin is stored on what are called wallets. A wallet is a device or software that has been built to house Bitcoin specifically. When it comes to wallets, there are two that you need to know about.
First, hot wallets. Hot wallets are software and require a constant internet connection to use. These wallets are the most accessible, given that you can often find wallet software out there for free usage.
It's also the more convenient of the two. It's easy to move your Bitcoin to and from a hot wallet on a daily basis, making it ideal for people looking to use it in their regular life. The other kind of wallet that you have the option of using is a cold wallet. Unlike hot wallets, cold wallets do not maintain a constant internet connection. These wallets are entirely offline.
This type of wallet isn't actually software. Instead, cold wallets are specific devices, similar to USBs, that are dedicated to housing Bitcoin. You can buy these wallets from a variety of different places online, but the most popular is the Ledger series.
That's the what and how of Bitcoin, so let's talk about the why. We've been discussing how Bitcoin isn't merely a vehicle for profit but is actually an important investment for a world moving into the digital age. We've also already discussed that Bitcoin is a finite resource.
The most basic principle of economics is that of scarcity. If a resource is finite, that makes it valuable. If it's infinite, that makes it less so. This principle directly contradicts modern economics as we know it. The most basic representation of value, being the dollar, is an infinite resource.
The government can print as many dollars as they want. There is no hard limit on how many can ever exist. It's this contradiction that has gotten the modern global economy into such a difficult position. Think back to even just 10 years ago. Do you remember how much you could buy for one dollar? It was a lot more than you can buy for one dollar now.
This is a result of inflation. Inflation references the fact that as more of a currency is printed, the less each unit of that currency is worth. It goes back to another basic economic principle, supply and demand. The more supply there is of something, the less it's worth.
In case you can't tell, this is a massive problem for the American economy, and it's not going to get any better. Inflation only gets worse over time, so it's very much an issue that needs an active solution.
Bitcoin is that solution. By bringing back the economy of gold with a currency built for a world that has gone digital, it's given the global market a chance to stabilize and stop the bleeding before it gets too severe to save.
That's why an investment in Bitcoin is an investment in the future. It's about getting ready for Bitcoin to fix that problem. You want to get your money in before that happens because once it does, the value of Bitcoin is going to skyrocket.
Bitcoin Gemini has been built by a team of both development and Bitcoin veterans that have extensive experience in the industry. Everyone on our team is passionate about what they do, and they all have the knowledge and expertise that has allowed us to execute Bitcoin Gemini as well as we have.
We're not focused on any of the elitist design features that major mainstream brokers have. You're not going to find Bitcoin Gemini loaded up with terms and tools that you have no idea how to use. We make sure that this is an environment that you can learn and thrive in without all of the added pressure that a lot of brokers are going to put you under. Of course, the longer you use Bitcoin Gemini, the more comfortable you're going to become with trading. As time goes by, you're going to grow and learn. Eventually, you might even outgrow us, but that idea is one that excites the Bitcoin Gemini team.
The notion that we've helped someone go from being a complete beginner in Bitcoin to somebody that can trade with confidence is something that every single person that has worked on this project takes great pride in.
We believe in bringing Bitcoin to the general public before it's too late, so signup for your account today.
At Bitcoin Gemini, we utilize state of the art encryption that helps keep your data safe. You're not going to find a company around Bitcoin that doesn't have state of the art cybersecurity, and that includes us.
Our dedication to security allows us to keep you and your information private, in line with the general Bitcoin philosophy. That's another major aspect of what has made Bitcoin so successful compared to the other fiat currencies, the idea that you maintain privacy and anonymity.
Bitcoin is a decentralized network; there is no governing body in charge of the coin. When you're using a bank, on the other hand, that bank can see every single cent that goes through your account, as well as where it's going.
Not only that, but the federal government can also get access to that data. It can even seize the funds in your bank account if it feels like it.
That lack of privacy and true control over one's finances is what has led so many people to Bitcoin.
We respect and value that foundational principle of Bitcoin greatly, so we aim to replicate and represent that in everything that we do here at Bitcoin Gemini.
When you sign up for your account and verify your information, the first thing you're going to have to do before trading is make your first deposit.
Our minimum deposit limit is $250. This is a great starting point for beginner traders. It's not so high that it prevents people from starting their trading, but just high enough that it gives you a stable base to actually trade with rather than making a one move investment. That's the minimum limit, but you can deposit as much as you would like. Just remember only ever to trade what you can afford to lose.
No matter how tempting or profitable it might seem, it's never worth it to gamble away money or possessions that you can't live without.
If you're struggling to make your rent, or you find yourself living paycheck to paycheck, then we would advise against starting to trade.
Instead, wait until you're in a better financial situation. Until then, you can always study up on Bitcoin and trading, but it's far from necessary.
When the team was building Bitcoin Gemini, we were getting questions from people on a daily basis.
Given that we were building a platform for beginner Bitcoin traders, we were more than happy to answer those questions. Over time, we got asked more and more questions, and eventually, we began to notice that some questions were more common than others.
We've put these questions down below to answer any queries that you might have, hopefully.
Bitcoin was invented all the way back in 2009. However, the idea of Bitcoin has been around since the 1060s. This information tends to surprise a lot of people. That's because Bitcoin more or less sat dormant for the years between 2009 and 2017. The price in that eight-year time frame only moved by a few dollars – a far cry from what we see with Bitcoin today.
2017 was the year that the world realized Bitcoin was a thing. Seemingly overnight, the price of the coin skyrocketed thanks to the investment of one major trading whale. As a result of the massive surge, the media began to report on Bitcoin. This attention brought in more traders, and the cycle continued.
A whale is the name given to an incredibly wealthy investor. These whales possess an enormous presence in the market, similar to a whale in the ocean. The movements of a whale's money can directly influence the price of certain stocks, securities, and more, so it's important to pay attention to where big money is going.
The value of Bitcoin is constantly moving around, but it's maintaining a general upwards trend. The highest that Bitcoin had ever gone to in 2020 was $20,000, but it broke that in early 2021 when it reached $53,000. At any given time, chances are the price falls somewhere in that bracket.
Of course not. While one Bitcoin might be worth that much, the unit is divisible to the eight-decimal point. Think of it like how the dollar is broken into cents, except instead of two digits; you have eight. These smaller Bitcoin units, referred to as Satoshi after Bitcoin's founder, make Bitcoin far more accessible. In theory, you can even buy one dollar worth of Bitcoin.
Satoshi Nakamoto is the name used by Bitcoin’s creator. Nobody knows who this alias belongs to, or even whether Satoshi is an individual or a group. This enigmatic mystery is a part of the appeal of Bitcoin but is a novelty when compared to the bigger picture.
Bitcoin is created through a process called Bitcoin mining. The Bitcoin network, or blockchain, pays the individuals who volunteer their hardware so that the blockchain can operate. These people are referred to as Bitcoin miners.