Bitcoin is tempting—but do your homeworkby Ruth Jackson / February 19, 2018 / Leave a comment
Cryptocurrency was one of the biggest news stories of 2017, with investors clamouring to get in on the storming price gains. The price of a single Bitcoin rocketed from just under $1,000 at the start of last year to close to $20,000 in December. It has since dropped back to around half that level.
Bitcoin isn’t the only cryptocurrency out there, but it is possibly the easiest one to trade at the moment. However, Bitcoin’s value in real currency terms is incredibly volatile. A price chart for Bitcoin over the past 60 days looks like a mountain range.
If you are tempted to start trading cryptocurrency the good news is you don’t have to buy a complete coin, you can purchase a fraction of a coin—so you don’t need spare thousands to get started.
You also don’t have to buy Bitcoin. If you are computer savvy—and have a very powerful computer—you could mine the cryptocurrency instead. Mining involves solving complex mathematical equations, the cryptographic codes that keep the Bitcoin network running.