How can I buy Bitcoin?

So you've learned the basics of Bitcoin, you're excited about its potential and you want to buy it. But how?

One easy option for buying Bitcoins is through a cryptocurrency exchange platform. As the name suggests, these allow you to buy and sell cryptocurrencies using fiat money or other digital currencies.

To buy Bitcoins on an exchange platform, you will need to open an account on the platform. In addition, you may need to go through know-your-customer (KYC) and anti-money laundering (AML) procedures. These are basic background checks to let the crypto exchange know that you are who you say you are. Generally, it involves sending your official ID and proof of address.

If you plan to buy a significant amount of Bitcoin, it is best to move your funds to an offline wallet or hardware that does not belong to the exchange platforms.

How to store your Bitcoin?

Just like with your bank account or physical wallet, you need a place to store your Bitcoin after you buy it. It is stored in digital wallets, a type of software that connects to the Bitcoin network. Just as bank cards have account numbers, digital wallets have a unique address that is shared with others when you make transactions.

In addition, there are different types of wallets to store your Bitcoins, each offering its own advantages and disadvantages.

There are basically two main categories: Hot or active wallets: these wallets are connected to the Internet and are usually available online or on your smartphone.

Cold Wallets: these types of wallets are not accessible via the Internet. It may involve physical devices (such as a USB stick), where Bitcoin and other cryptocurrencies are stored securely offline.

How to sell Bitcoin?

Similar to buying Bitcoin, there are several options when it comes to selling them.

You can buy Bitcoin directly from cryptocurrency exchange platforms, Bitcoin ATMs, P2P marketplaces or traditional brokers. Likewise, you can also sell the cryptocurrency through any of these channels, with the exception of some Bitcoin ATMs.

You can sell your Bitcoin, on the exchange platform or broker where it was purchased, by placing a sell order. As the name suggests, a sell order is an instruction to a broker (cryptocurrency exchange platform) to sell an asset at a given price.

Bitcoin can also be exchanged or swapped for other cryptocurrencies or stable coins, such as Ether or Tether (respectively). This is useful if you want to profit from your Bitcoin investment or prevent the value of your portfolio from decreasing.

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Stephen Hawking (1942-2018) was a British theoretical physicist, cosmologist, and science communicator. He was internationally recognized for his contributions to the study of theoretical physics, particularly in cosmology and black hole physics.

Among his most notable works is "A Brief History of Time," a worldwide bestseller that explains the most complex concepts of modern physics in an accessible way, as well as his own experience living with a neurodegenerative disease that left him confined to a wheelchair and unable to speak.

Here we will share 10 great unknowns of humanity answered by Stephen Hawking, verified by his last book before his death.

1. Will the human species survive in the future?

"The present world order has a future, but it will be very different. There will be some problems, one of them is the creation of genetically modified Super Humans".

2. Should we colonize space?

"We have no choice but to colonize space, because in the future the planet will have many problems and we will need to leave it. One of them is pollution and overpopulation.

3. Will artificial intelligence surpass us?

"A super-intelligent artificial intelligence will be extremely good at achieving goals; if those goals are not aligned with ours, we are in trouble."

4. Can we predict the future?

Predicting the future can be allowed, the laws of nature support it. However in practice it is too difficult for now.

5. Is there other intelligent life in the universe?

There are intelligent life forms out there, we have to be careful not to answer until we have developed a little more. "If they find us now, it would be very bad news for humanity".

6. Is time travel possible?

"I think it is possible to travel to the future but we don't have enough technology, however we cannot rule out that traveling to the past is possible with our current understanding".

7. What is inside a black hole?

Everything that is trapped inside a black hole is in a place where time does not exist.

8. How did it all begin?

The universe was simply created out of nothing. "Quantum mechanics tells us that particles can spontaneously appear out of nothing, stay again and then disappear again in a totally different location."

9. Does God exist?

If the universe was created out of absolute nothingness, it makes no sense that God exists. "We are free to believe whatever we want, and my opinion is that the simplest explanation is that there is no God, no one created the universe and no one directs our destiny."

10. Does life after death exist?

"I consider the brain as a computer that will stop working when its components fail, there is no paradise or life after death for computers that stop working; that is a fairy tale for people who are afraid of the dark."

Hawking was a member of the Royal Society and the U.S. National Academy of Sciences, and received numerous awards and recognitions for his work, including the Royal Society's Copley Medal and the U.S. Presidential Medal of Freedom. We bring this article to Binance Feed so that you can learn more about one of the greatest personalities in history.

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Cryptocurrencies have had a significant impact on people's lives since their inception in 2009. While they have the potential to revolutionize the way we transact and interact with money, there are also downsides to their adoption. Here are three advantages and three disadvantages of cryptocurrencies:

Advantages:

Decentralization: Cryptocurrencies operate on a decentralized network, which means they are not controlled by any government or financial institution. This gives users more control over their money, as they can transact directly with each other without the need for intermediaries.

Low transaction fees: Cryptocurrencies typically have lower transaction fees than traditional financial systems, which can make them a more affordable option for transferring money.

Accessibility: Cryptocurrencies have opened up financial opportunities for people who previously had limited access to traditional banking systems. This is particularly important in developing countries, where cryptocurrencies have enabled people to access financial services and participate in global markets.

Disadvantages:

Volatility: Cryptocurrencies are highly volatile and subject to rapid price fluctuations. This makes them a risky investment and can lead to significant losses for those who do not understand the market.

Lack of regulation: Cryptocurrencies operate in a largely unregulated environment, which has led to concerns around fraud and illegal activities. This also means that investors have limited protection against fraudulent activities, as there is no central authority to regulate the market.

Security risks: Cryptocurrency exchanges and wallets are vulnerable to security breaches, which can result in the loss of user funds. This risk has led to increased adoption of secure storage solutions, such as cold wallets, to minimize the risk of theft.

Despite these challenges, the potential benefits of cryptocurrencies cannot be ignored. As the market matures and becomes more regulated, it is likely that these challenges will be addressed, making cryptocurrencies a more mainstream financial option.

By offering a secure, easy-to-use platform and educational resources, Binance is helping to build a bridge between traditional financial systems and the world of cryptocurrencies. This makes it easier for individuals to access the financial opportunities presented by cryptocurrencies, while ensuring they are informed about the risks and challenges associated with this new asset class.

While there are challenges associated with the adoption of cryptocurrencies, Binance is playing an important role in addressing these challenges and making cryptocurrencies more accessible to people around the world. Through its exchange platform and educational resources, Binance is helping to build a more inclusive and transparent financial system that benefits everyone.

In conclusion, cryptocurrencies have had a significant impact on people's lives, providing new financial opportunities and challenging traditional financial systems. While there are challenges to their adoption, such as volatility and security risks, the potential benefits of decentralized currency cannot be ignored. As the market continues to evolve, it is essential for individuals to educate themselves on the risks and opportunities presented by cryptocurrencies.

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What are Ordinals?

Most NFTs are created and tracked through a smart contract. However, the assets that these smart contracts represent are often hosted elsewhere. For example, some NFT platforms use the decentralized storage system, IPFS, to store NFT artwork/audio/video files.

However, Ordinals are enrolled in satoshis and therefore these Bitcoin-NFTs are stored on the blockchain. They are validated in blocks along with other transactions and stored in the network's distributed ledger.

In addition, traditional NFTs often have metadata that allows creators to change the appearance and characteristics of an NFT. For example, some NFT projects will ask users to update their metadata in order to update their NFTs with higher resolution images.

However, since Ordinals are stored in a chain, their data is immutable and cannot be changed. Furthermore, unlike NFTs, Ordinals do not provide creators with the option to receive royalties on subsequent sales.

Simply put, Ordinals are immutable and complete digital artifacts. Unlike traditional NFTs, they cannot be manipulated and reside entirely on the chain.

For these reasons, Ordinals Protocol creator Casey Rodarmor believes these digital artifacts are "intended to mirror what NFTs should be."

How to get started with Ordinals?

Until recently, the only way to sign up and use Bitcoin Ordinals was with a fully synchronized Bitcoin node, which is expensive and requires advanced technical competence.

However, the Gamma platform has provided a no-code alternative.

Here is a quick guide:

Install the Xverse Desktop browser extension for Chrome. Connect to Gamma.i® and select your enrollment type.

You can enroll an image or text directly on the Bitcoin blockchain. Upload the file you want to enroll. Remember to keep your files under 35 kb for best results. You cannot change or delete it either. Make sure what you upload is exactly as you intend it to be.

You can now choose your transaction rate based on network congestion. The higher the rate, the more likely your transcript will be created sooner. However, this can still take a few hours or even several days.

You will now need to enter your Ordinal recipient address.

To receive your Bitcoin NFT, you will need a new, unused, and Ordinals-compatible Bitcoin taproot recipient address.

In your Xverse wallet, navigate to the NFT tab and press the receive Ordinals NFT button.

Copy the taproot recipient address and insert it into the recipient address field found in the BTC wallet in Gamma.

Benefits of Ordinals

Ordinals can have a positive impact on the Bitcoin ecosystem by improving its security and incentivizing developers to build on the network.

The number of newly created Ordinals has skyrocketed since their launch, which caused an increase in transaction fees and average block size on the Bitcoin blockchain. In addition, Bitcoin NFTs will be beneficial to Bitcoin security.

By increasing transaction fees, the creation of Ordinals will incentivize miners to protect the network; whereas, revenue from mining rewards decreases with each Bitcoin halving.

An independent developer, Udi Wertheimer, explained, "Because block space is scarce and there is demand for things like registrations, there is a lot of hope that we will have enough people willing to pay fees to keep the Bitcoin network secure."

In addition, Ordinals provide a new use case for making Bitcoin construction commercially profitable. "With all that interest around Ordinals and signups, I expect there will be a very large ecosystem built around that," he said.

Wertheimer dismisses the idea of some Bitcoin core developers who claim that NFT creation is not an appropriate use case for Bitcoin.

According to him, in recent years, Bitcoin's core developers "have ignored what real Bitcoin users want."

The pros and cons of Bitcoin Ordinals.

➕ Pros.

They are something the market wants and are paying for block space.

They make Bitcoin fun and entertaining, and bring altcoiners back to Bitcoin.

Increasing Ordinals fees can benefit Bitcoin's overall security model by providing income to miners after halving is completed over the next 120 years.

➖ Cons.

May make it difficult for node operators to run full nodes and could overload the blockchain.

Inscribing non-fungible features in Satoshis may harm the overall fungibility of Bitcoin and affect privacy.

Although Bitcoin's block space is not entirely scarce, as the adoption of Ordinals increases, the negative effects of inscribing this data in blocks may be felt.

Top 3 Ordinals

More than 48,000 entries have been minted at the time of this writing, and the Web3 community is beginning to take note of the fascinating collections and amazing sales that have emerged.

Below are some of the most interesting (and valuable) Ordinals.

Bitcoin Rocks: It is inspired by Ether Rocks, and the total supply of this collection is limited to just 100. Some NFTs trade for as much as 1,000 BTC/13,858 ETH (over $22 million). The current minimum bid price stands at 2.7 BTC/37.42 ETH (almost $61,000).

Ordinals Punks: As lucrative as the famous CryptoPunks. Currently, the minimum price is 3.7 BTC/51.26 ETH (almost $84,000), and the highest selling price is for Ordinal Punk 78 which is priced at 50 BTC/692.66 ETH ($1,132,500).

Timechain Collectibles: Series 1 watches from the Timechain Collectibles collection are a very limited set of Ordinals. There are just 21 examples representing clocks in various forms: cyberpunk clocks, pocket watches, antique calendars and more. Auctions of the NFTs are held on the project's Discord, with Inscription 364 and sell for 3.08 BTC/43.59 ETH ($67,000).

This is all the basic information you need to know about Bitcoin Ordinals and its most important features. Remember that education is a key factor in the times to come and you can always learn and educate yourself about new technologies at Binance Academy, and for free!

#OriginalContent #Binance #APfinanciero #BTC #bitcoin #ordinals

Currently, the world of cryptocurrencies is experiencing exponential growth. Cryptocurrencies such as Bitcoin, Ethereum, and many others have gained popularity and have become an alternative form of investment and payment worldwide. In this article, we will explore the phenomenon of cryptocurrencies and their expansion in the financial market.

What are cryptocurrencies?

Cryptocurrencies are decentralized digital currencies that use cryptography to secure transactions and control the creation of new units. Unlike traditional currencies issued by governments, cryptocurrencies operate on a decentralized network called blockchain. This means they are not subject to regulation by any central bank or government.

The rise of Bitcoin

Bitcoin, the most well-known and valuable cryptocurrency, has experienced a spectacular rise in recent years. Its value has significantly increased, leading many people to invest in this digital currency. Bitcoin has become increasingly accepted as a legitimate form of payment, and numerous companies and establishments now accept it as a means of transaction.

Advantages of cryptocurrencies

Cryptocurrencies offer several advantages for both users and merchants. Some of these advantages include:

Security and privacy

The blockchain technology used in cryptocurrencies ensures the security of transactions. Additionally, cryptocurrencies offer a high level of privacy as transactions are not directly linked to users' identities.

Fast and global transactions

Cryptocurrencies enable instant transactions on a global scale. Unlike traditional bank transfers that can take days, cryptocurrency transactions are completed within minutes.

Absence of intermediaries

Cryptocurrencies eliminate the need for intermediaries such as banks or payment processors. This reduces transaction costs and provides users with greater control over their money.

Alternative cryptocurrencies

In addition to Bitcoin, there are many other cryptocurrencies in the market. Ethereum, for example, is a decentralized platform that allows the creation of smart contracts and decentralized applications. Litecoin, on the other hand, is based on a blockchain network similar to Bitcoin but with faster confirmation times.

Investing in cryptocurrencies

Investing in cryptocurrencies can be an exciting opportunity, but it also carries risks. It is important to research and understand how each cryptocurrency works before investing. Additionally, diversifying your cryptocurrency portfolio can reduce risk and increase the chances of long-term profits.

Conclusions

Cryptocurrencies are experiencing significant expansion and are transforming the financial landscape. Their security, privacy, and ability to facilitate fast and global transactions are just some of the advantages they offer. If you are interested in capitalizing on the opportunities presented by cryptocurrencies, it is crucial to educate yourself and stay informed about the advancements in this ever-evolving field. The cryptocurrency market can be volatile, so it is important to make decisions based on careful analysis and seek the guidance of experts in the field.

Furthermore, it is essential to note that cryptocurrencies are not the only investment option available. The financial market offers a wide range of assets and financial products, and diversifying your investments can help mitigate risks and maximize growth opportunities.

In conclusion, cryptocurrencies are experiencing remarkable expansion in the financial world. Their increasing adoption, coupled with the advantages they offer in terms of security, privacy, and transaction speed, make them an attractive option for both investors and general users. However, it is important to remember that investing in cryptocurrencies carries risks, and therefore, it is recommended to research, educate oneself, and adopt a strategic approach before making decisions.

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Cryptocurrency exchanges have become increasingly popular over the years, providing individuals with the opportunity to invest in digital assets. However, successful cryptocurrency exchanges require careful consideration and preparation. In this article, we will provide tips and strategies for a successful cryptocurrency exchange, including the importance of conducting research and taking precautions to minimize risks.

Conducting Research: Conducting research is crucial before making any investment decision in the cryptocurrency market. This includes researching the potential risks, market trends, and historical data related to the asset you are interested in investing in. Research can help you make informed decisions about whether or not to invest, and how much to invest.

Example: In 2018, the cryptocurrency market experienced a major downturn that resulted in significant losses for investors. Those who had conducted research prior to investing were better prepared to make informed decisions and minimize losses.

Diversifying your Portfolio: Diversification is important in any investment portfolio, including cryptocurrency. It is recommended to invest in a variety of digital assets rather than just one to reduce the risk of losses.

Example: In 2021, the price of Ethereum decreased significantly due to market fluctuations. Those who had diversified their portfolio by investing in other cryptocurrencies were less affected by this loss.

Having an Exit Strategy: Having an exit strategy is crucial in any investment, including cryptocurrency. An exit strategy helps you minimize losses and protect your profits. This involves determining when to sell your assets, setting stop-loss orders, and monitoring the market closely.

Example: In 2017, the cryptocurrency market experienced a major bubble that resulted in a significant price drop for Bitcoin. Investors who had an exit strategy were able to sell their assets at a high price before the market crashed, minimizing their losses.

Keeping up with News and Market Trends: Keeping up with the news and market trends is important in any investment, including cryptocurrency. News and market trends can have a significant impact on the price of digital assets, and staying informed can help you make informed investment decisions.

Example: In 2021, Tesla announced that it had invested $1.5 billion in Bitcoin and would accept Bitcoin as payment for its products. This had a significant impact on the price of Bitcoin and other cryptocurrencies.

Staying Calm: The cryptocurrency market is known for its volatility, which can be stressful for investors. It is important to stay calm and not make impulsive decisions based on emotions. Instead, it is recommended to make informed decisions based on proper research and a clear investment strategy.

Example: In 2017, the cryptocurrency Bitcoin experienced a significant drop in price after China announced restrictions on the cryptocurrency market. Investors who stayed calm and made informed decisions were able to minimize their losses.



#Binance as the world's number one cryptocurrency exchange by trading volume, plays a crucial role in ensuring the security of cryptocurrency exchanges. The platform has implemented various measures to ensure the safety and security of users' assets, such as two-factor authentication, cold storage of assets, and regular security audits. Binance also has a Secure Asset Fund for Users ( #SAFU ) that acts as an emergency insurance fund to protect users in case of a security breach.

Binance has a team of experts dedicated to monitoring the platform and identifying any potential security threats. In the event of a security breach, Binance has a 24/7 customer support team ready to assist users and ensure their assets are safe.

Moreover, Binance has been actively educating users on best practices for cryptocurrency trading and security, including providing resources on how to avoid scams, protect personal information, and avoid phishing attempts. Through these educational efforts, Binance has helped users to be more informed and confident in their cryptocurrency exchanges.

Overall, Binance's commitment to security and user education has played a critical role in the success of the platform and the wider cryptocurrency industry.

In summary, successful cryptocurrency exchanges require time, effort, and careful attention. By conducting proper research, diversifying your portfolio, having an exit strategy, staying informed of news and market trends, and staying calm, you can maximize success in cryptocurrency exchanges. Additionally, as mentioned above, cryptocurrency exchange platforms like Binance have done a great job educating users on how to make successful exchanges, which can be beneficial for those new to the industry. With due diligence and necessary precautions, cryptocurrency exchanges can be an exciting and profitable way to invest in the future.

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If Bitcoin mining is an essential process to run the blockchain system, how would we motivate people around the world to participate in the work of validating transactions? This is accomplished through a reward system.

Here's how it's explained in the book, Mastering Bitcoin:

Miners receive two types of rewards for mining: new coins created with each new block and a commission for transactions included in the block. To earn this reward, miners must compete to solve a complex mathematical problem, based on a crypto hash algorithm. The solution to the problem, called proof of work, is included in the new block and acts as proof that the miner put in significant computational effort."

A Bitcoin miner can earn new coins and commissions for transactions on the block created by the mining work. This maintains Bitcoin's security model.

What happens when all the Bitcoins are mined?

The Bitcoin supply is limited to a final cap of 21 million. This is determined by Bitcoin's source code, programmed by its creator(s), Satoshi Nakamoto, and cannot be changed.

Once all Bitcoin is mined, the amount of coins in circulation will remain at that level permanently.

The implication as the Bitcoin supply limit is approached and ultimately reached will be that mining will become much less profitable. But the process will go on for more than a century.

Bitcoin miners will still be rewarded at that point, but only through transaction fees and not with new coins.

Reaching the supply limit will probably drive up the price of Bitcoin, as long as demand continues to grow; since, anyone wishing to buy Bitcoins will have to obtain them from someone else, giving sellers control over their price.

#BinanceTournament #Bitcoin #Mining #Education #APfinanciero

Bitcoin is a cryptocurrency that has gained a lot of attention in recent years. Since its creation in 2009, the value of this digital currency has experienced extreme fluctuations. Many factors have influenced the price of Bitcoin and this has led to debates about its true value and its future as a global currency.

While some believe that Bitcoin is a bubble that is destined to burst, others believe that it is a legitimate form of investment that has great utility and provides value. Regardless of divergent opinions, what is certain is that the price of Bitcoin is influenced by multiple determinants, some of which are more obvious than others. We can find, for example, everything from global economic conditions to news and rumors. All of these things can have a significant impact on its value.

In this article, we will explore some of the factors that determine the value of Bitcoin and how they can interact with each other to create changes in the cryptocurrency market. It is important that you research and understand about these in order to make more informed and strategic decisions about investing in BTC and other cryptocurrencies.

The price of BTC, like any other asset, depends on supply and demand in the market. However, there are some specific factors that influence the supply and demand of Bitcoin and, therefore, its value.

First, the adoption of this currency as a medium of exchange and store of value is an important factor. The greater the number of people and companies using BTC, the greater its demand and, therefore, the higher its price. On the other hand, if there are fewer people using it, its demand will decrease and so will its value.

Another important factor is government regulation. The attitude of governments towards cryptocurrencies can have a significant impact on their price. If a government prohibits or restricts the use of Bitcoin, its demand may decrease and, therefore, its price as well. On the other hand, if a government accepts and regulates it, its demand may increase and so may its price.

In addition, supply is an important factor in its price. The total amount of Bitcoin mined and in circulation is limited, so the supply is fixed. If demand increases and supply remains constant, its price will go up. On the other hand, if demand decreases and supply remains constant, its price will decrease.

Finally, among other determinants, we find that global economic and political events can also influence the price of BTC. Economic or political uncertainty can lead people to seek refuge in this and other cryptocurrencies as a way to protect their money. This can increase demand and, therefore, its price.

What influences the price of Bitcoin?

In addition to the factors mentioned above, there are other issues that can influence the value and answer the question of why the price of Bitcoin rises:

Competition: increasing competition from other cryptocurrencies can also affect the price, as some investors may prefer to invest in other projects with different or better features.

Media: positive or negative reports about Bitcoin can affect its value. Positive news can increase demand and price, while negative news can decrease it.

Technological development: the development of new technologies and improvements in the Bitcoin network, such as the adoption of SegWit or the implementation of the Lightning Network, can have an impact on its price, as they can make its use easier, safer and more efficient.

Miner activity: Bitcoin miners, who validate transactions and secure the network, can also have an influence. Generally, the more miners there are, the more secure and reliable the network is considered to be.

Acceptance by businesses: This can increase the demand and price of Bitcoin, as it increases its use as a medium of exchange.

Changes in fiscal policies: changes, such as taxes and tariffs, can have an impact on its value, as they can affect the adoption and demand for BTC in different countries.

In short, who determines the value of Bitcoin?

We can conclude that the value of Bitcoin is determined by the market as a whole. Its price is set on cryptocurrency exchanges based on the transactions that take place on them. If demand is high and there are few sellers willing to sell their BTC, the price will increase. Otherwise, if demand is low and there are many sellers willing to sell their BTC, the price will decrease.

Although its value can be affected by various factors, such as the adoption of new technologies, acceptance by businesses or global economic and political events, at the end of the day, the price of Bitcoin is determined by supply and demand in the market.

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The importance of conducting one's own research before making any investment decision in the world of cryptocurrencies cannot be overstated. The lack of regulation in the cryptocurrency market and the abundance of information available can make it challenging to make informed decisions and minimize risks. Below are some practical strategies for conducting cryptocurrency research, along with concrete examples.

Fundamental analysis: Fundamental analysis focuses on evaluating the financial health, business strategy, and leadership ability of a cryptocurrency project. Investors should consider factors such as the leadership team, business model, project roadmap, community adoption, competition, and growth potential.

For example, in the case of Ethereum (ETH), one of the most important and popular cryptocurrency projects, fundamental analysis could consider factors such as community adoption, development activity, project roadmap, and team leadership. Since its launch in 2015, Ethereum has been one of the most popular and widely used cryptocurrencies worldwide, thanks to its ability to create smart contracts and decentralized applications.

Technical analysis: Technical analysis involves analyzing charts and historical data to identify patterns and price trends in the cryptocurrency market. Investors can use tools such as moving averages, momentum indicators, candlestick patterns, and support and resistance levels to make informed decisions about when to buy or sell.

For example, in the case of Bitcoin (BTC), the largest and most valuable cryptocurrency in the world, investors can use technical analysis to identify price patterns and trends. Technical analysis could identify that Bitcoin prices have fluctuated within a specific range over a certain period of time, and as a result, an investor could decide to buy when the price falls within that range and sell when it approaches the upper limit.

Market research: Market research involves evaluating the market in which the cryptocurrency project operates. Investors should consider factors such as competition, market size, demand, and regulators.

For example, in the case of Binance Coin (BNB), the native cryptocurrency of the Binance cryptocurrency exchange platform, market research could consider factors such as competition from other cryptocurrency exchanges, the size of the cryptocurrency exchange market, and regulation in the countries where Binance operates.

In summary, conducting adequate research before investing in cryptocurrencies is essential to minimize risks and maximize profit opportunities. The strategies described above, including fundamental analysis, technical analysis, and market research, can help investors make informed decisions. Additionally, it's important to note that cryptocurrencies are a highly volatile market, and investors should be prepared for significant price fluctuations.

Los enemigos mortales del especulador son: la ignorancia, la codicia, el miedo y la esperanza. 

Jesse Lauriston Livermore

To conclude, #Binance has done a great job in educating the ecosystem. They have offered educational resources and training for traders and investors on their platform, as well as hosting educational events and webinars. Binance Academy is a great example of their commitment to education, providing a range of articles and courses covering topics such as blockchain technology, cryptocurrencies, and trading strategies. By providing these resources, Binance is helping to make the cryptocurrency market more accessible and understandable for investors and traders of all levels.

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Look at the image to understand the difference between the traditional banking system and Bitcoin.

Just like opening a new bank account, you create your personal wallet address for Bitcoin. The bank account is protected by a PIN, while Bitcoin is protected by a private key (digital signature). When we make a transaction in the bank account, the bank keeps the record private. On the other hand, for Bitcoin, the public ledger is transmitted on the global network.

In banks, money is transferred through an electronic communications system, but Bitcoin transactions are validated by a computer technology called mining.

This is how the author of Mastering Bitcoin defines what Bitcoin mining is:

Mining is like a giant, competitive Sudoku that restarts every time someone finds a solution and whose difficulty is automatically adjusted so that it takes about 10 minutes to find a solution.

A miner's job is to find the solution in this sudoku game by generating a new block containing all the transactions in the last block. This process protects the system against false transactions that spend the same amount of Bitcoin more than once, known as double spending.

This process, also known as "proof of work", validates the new transactions made and records them in the blockchain, as we explained above. This is how a new Bitcoin is added to the money supply.

#BinanceTournament #Bitcoin #Mining #Education #APfinanciero

How much we each value money is an interesting concept. It may seem that some people value it less than others. Others are willing to work harder for it too. While these concepts are pretty abstract, when it comes to valuing money over time, there is, in fact, a well-established framework. If you're wondering whether to wait for a larger end-of-year raise or get a smaller one now, the time value of money is a great principle to learn.

Introducing 

The time value of money (TVM) is an economic/financial concept that states it's preferable to receive a sum of money now than an equal amount in the future. Within this decision is the idea of opportunity cost. By choosing to receive the money later, you miss the opportunity to invest it in the meantime or use the money for some other valuable activity.

Let's look at an example. You loaned your friend $1,000 a while back, and they've now got in touch to return it. They offer to give you the $1,000 today if you pick it up, but tomorrow they're going on a round-the-world trip for one year. However, they would give you the $1,000 once they're back in 12 months.

If you're feeling particularly lazy, you may wait 12 months. But the TVM means you'd be better off picking it up today. Within those 12 months, you could put it in a high-interest savings account. You could even wisely invest it and make some profit. Inflation would also mean that your money is worth less 12 months into the future, so you're actually being paid less in real terms.

An interesting question to consider is what would your friend have to pay you in 12 months to make it worth the wait? For one thing, your friend would at least need to offset the potential earnings you could make in the 12 months waiting period.

What Is Present Value and Future Value?

We can summarize this whole conversation neatly in a succinct formula known as the TVM Formula. But before we jump into that, we need to get some other calculations out of the way first: the present value of money and the future value of money. 

The present value of money lets you know the current value of a future sum of cash, discounted at the market rate. Looking at our example, you might want to know what the $1,000 from your friend in one year is actually worth today.

The future value is the opposite. It looks at a sum of money today and calculates what its worth will be in the future at a given market rate. So, the future value of $1,000 in a year would include a year's worth of interest.

Inflation effect

As of yet, we've not factored inflation into our calculations. What good is a 2% per annum interest rate when inflation is running at 3%? In periods of high inflation, you may be better off plugging in the inflation rate rather than the market interest rate. Wage negotiations are one place where this is commonly done.

However, inflation is a much trickier thing to measure. For one, there are different indexes to choose from that calculate the increase in the price of goods and services. They commonly provide different figures. Inflation is also fairly hard to predict, unlike market interest rates. 

In short, there isn't much we can do about inflation. We can build into our model a discounting aspect for inflation, but as mentioned, inflation can be wildly unpredictable when it comes to the future.

the dollar has devalued against gold by more than 95% over time.

How Does the Time Value of Money Apply to Crypto

There are multiple opportunities in crypto where you can choose between a sum of crypto now and a different sum in the future. Locked staking is one example. You may have to make a choice between keeping your one ether (ETH) now or locking and getting it back in six months with an interest rate of 2%. You may, in fact, find another staking opportunity that offers a better return. Some simple TVM calculations can help you find the best product.

More abstractly, you might be wondering when you should buy bitcoin (BTC). Although BTC is commonly called a deflationary currency, its supply actually increases slowly until a certain point. This, by definition, means it currently has an inflationary supply. Should you then purchase $50 of BTC today or wait for your next paycheck and buy $50 next month? TVM would recommend the former, but the actual situation is more complex due to the fluctuating price of BTC.

Interest rates, yield, and inflation are common in our daily economic lives. The formalized versions we worked on today come in great use to large companies, investors, and lenders. For them, even a fraction of a percent can make a huge difference to their profits and bottom line. For us, as crypto investors, it's still a concept worth keeping in mind when deciding on how and where to invest your money for the best returns.

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Managing risk is a crucial aspect of investing in cryptocurrencies, especially for those who are just starting in the space. While there are significant opportunities for gains, there are also risks, including volatility, security breaches, and scams. Here are five essential points to consider when managing risk in cryptocurrency investments:

Research and education: Before investing in any cryptocurrency, it's essential to research and understand the technology behind it, as well as the risks involved. Education is key to making informed investment decisions and avoiding scams or fraudulent projects.

Diversification: Diversifying your cryptocurrency portfolio is crucial to managing risk. By investing in multiple cryptocurrencies, you spread your risk across different projects, reducing the impact of any single project's poor performance.

Risk tolerance: Knowing your risk tolerance is essential when investing in cryptocurrencies. Cryptocurrency investments can be highly volatile, and it's important to be comfortable with the level of risk you are taking on.

Technical analysis: Technical analysis involves examining historical price data and chart patterns to identify trends and potential price movements. It can be a useful tool for predicting the direction of the market and identifying potential entry and exit points.

Security: Ensuring the security of your cryptocurrency investments is crucial to managing risk. This includes using secure exchanges like Binance, enabling two-factor authentication, and storing your assets in cold storage.

#Binance Academy plays a critical role in educating users on cryptocurrency investments and risk management. The platform offers free educational resources in various languages, covering topics such as blockchain technology, cryptocurrency trading, and security. By providing accessible and comprehensive education, #BinanceAcademy helps users to make informed investment decisions and manage their risk effectively.

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Cryptocurrency trading can generate a whole range of feelings, from euphoria to nervousness and everything in between. Of course, when you start winning, it's exciting. But when the pressure starts to build, it can become stressful. At all times, investors must remember that as much as profits are on the horizon, there is also the risk of losing it all.

It's easy to make mistakes, especially when starting out, such as risking more than you can afford or getting carried away by emotions.

Here are five common mistakes to avoid in your first few months as a private or retail investor.

1. Treating trading like a game

Sometimes new traders apply a gambling mentality to the markets, aiming to make a quick buck with little strategy and a lot of luck.

Effective trading is a skill that must be honed over time. It requires discipline, a solid understanding of fundamental and technical analysis and a clear strategy. Consider your skills as a muscle to be strengthened with continuous training.

2. Starting without practice

Don't take for granted that you will be successful right away. It takes time to become familiar with trading. It takes skill and practice to generate real profits.

Fortunately, there are many resources available on the Internet to help you develop these skills. We recommend practicing with demo versions of online trading applications before risking real money.

3. Trading without a plan

To avoid making impulsive or emotion-based decisions, it is essential to have a plan that includes clear objectives, sound analysis, realistic profit and loss forecasts and reasonable time frames.

It is vital to take the time to create a trading plan that suits your trading style, risk tolerance and financial objectives. And remember to review and adjust it periodically to reflect changes in the market and your personal circumstances.

4. Ignoring risk management

Many novice traders get lost in the glory of their victories and forget to monitor the risks involved in each trade.

Don't forget to carefully examine your risk exposure and avoid excessive leverage when trading, continually measuring the profit and loss of each trade to ensure that the potential reward justifies and compensates for the potential risk.

Keep in mind also that many retail investors like to diversify their trading, as having a range of instruments to trade allows them to build portfolios that reflect their appetite for risk and protect against volatility.

Finally, you can mitigate the risk of loss with risk management techniques, for example, by using guaranteed stop loss orders that ensure your position is always closed at the pre-selected price.

Getting carried away by emotions

Even after you have practiced, developed a strategy and carefully analyzed the performance of your first few trades, it is easy to let strong emotions, such as excitement, fear and hope, cloud your judgment and lead you to make impulsive decisions.

Avoid making decisions based on news or market noise; trust your plan and focus on market fundamentals. When the pressure mounts and emotions run high, those who maintain discipline will reap the rewards.

Trading is a complex art that can take years to master. But by adopting a disciplined and informed approach, as well as using a powerful platform, novice traders can accelerate their development and improve their chances of market success.

How can I trade on Binance?

Login to Binance with your username and password.

Click on "Trading" (top area of the page).

Choose the mode: Classic or Advanced.

Select the quantity.

Choose the price for your order.

Click on buy to finalize the operation.

For more information on the binance academy platform you can access all the material you need to learn for free.

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