Welcome to the home page for Bitcoin Secret. We're a trading platform for fledgling traders looking to get involved in the Bitcoin marketplace. If that sounds like you, then you might want to stick around.
Bitcoin Secret has been developed by a team dedicated to helping you get the most out of your Bitcoin trading. We believe in the power of Bitcoin. Not just to turn a profit but as a way forward for modern economies.
If you're new to this space, though, that's going to sound a bit far-fetched, but it's our reality. Currencies are failing due to inflation, and it's only going to get worse over time. Bitcoin is the solution to these woes.
With Bitcoin Secret, you have an opportunity to experiment with Bitcoin trading in a safe and controlled environment. We're not going to throw you in the deep end of the pool like some of the major brokers do.
Instead, Bitcoin Secret is dedicated to simplifying Bitcoin for beginners. We aim to give you a steppingstone that allows you to ease into Bitcoin and cryptocurrency at your own pace.
If you're completely new to Bitcoin altogether, then we might be getting a bit ahead of ourselves. For those of you who have only first heard about Bitcoin recently, we're going to run through some of the basics.
We're going to discuss what Bitcoin is, as well as how it works. If you already know this, feel free to skip ahead.
Simplified to a foundational level, Bitcoin is a digital currency. It's a currency the same way the dollar or the euro is. However, you can't carry it in your pocket like those currencies.
Bitcoin exists exclusively in the digital space, hence the term cryptocurrency.
While that's the simplest explanation of Bitcoin that anyone can give, the reality of the coin is infinitely more complicated than that.
For starters, being a digital currency sets Bitcoin apart from fiat currencies when it comes to behavior.
If you were unaware, modern economies and currencies rely on the backing of gold for value. Without gold stores, money is worthless. Therefore, it isn't too inaccurate to say that gold is the real global currency, and all others are just place holders.
Bitcoin doesn't have the backing of any commodity like this. Instead, it is the commodity. You might have heard Bitcoin be referred to as digital gold. That's not just a reference to how much it's worth; it's the fact that it behaves remarkably similar to gold.
It's the base level of a currency; it's not built on the backing of something else. This allows it to present itself as a solution to the current inflation issue that most countries in the world are facing.
It's this aspect of Bitcoin that defines how it behaves on a trading level. Bitcoin moves like a commodity rather than a currency on the Forex. Therefore, if you have a background in that kind of trading, that knowledge isn't going to translate too well here.
Why should you invest in Bitcoin? Well, rather than tout potential profits to be made, we're going to paint you a picture of a future.
Imagine, in 20 years, the world's major currencies have collapsed as a result of inflation. It costs $10 for a regular loaf of bread, and the American, European, and Asian economies collapse.
The world faces irreversible financial ruin, a bleak and grim reality that is awaiting us.
This is what is going to happen if Bitcoin isn't adapted to the public on a governmental level. The leaders of the world seem to agree with this statement.
Already in the last two years, we've seen massive leaps and bounds in the country's attitudes towards Bitcoin. It has gone from being the boogieman to being the salvation of the human race.
Even the European Union are attempting to create their own form of Bitcoin. If the world's foremost economic zone is adopting this technology, it should tell you all you need to know.
In 2021, there are going to be a plethora of major developments around Bitcoin. There are already talks of the SEC regulating Bitcoin in the US, allowing the government to adapt it for use easily.
Once all of this gets set in motion, and different governing bodies begin to use Bitcoin, the value of it is going to skyrocket.
You're still going to be able to invest, but that's going to be for utility rather than any market movement.
Instead, you want to make sure your money is in before the ship sets sail. If you can get in before the whole market goes kaboom in 2021, you're going to be setting yourself up for what very well may be another golden age for humanity.
Bitcoin technology is quite a bit different from the majority of tech that you're going to be used to.
It's built on an independent blockchain network that relies on individual nodes to keep itself active.
The coins themselves are encrypted strings of data, each unique to allow the coin to retain its value.
Despite being released in 2009, the technology on display here is unlike anything we've ever seen. Not only is the encryption that surrounds Bitcoin unbelievably strong, but the efficiency of the blockchain is so great that it's beginning to raise questions of energy consumption.
All of that is great, but it's far from the most impressive and important technological aspect of Bitcoin. We're referring to the method through which new Bitcoin units are created.
As we've mentioned, inflation is a big problem, and Bitcoin is the solution. How, might you ask?
Bitcoin is inflation proof through the method by which new Bitcoin is made.
Inflation is the result of the overproduction of a currency. When too much is printed in too short of a time span, the value of every single unit decreases. This harkens back to the basic economic principle of supply and demand. The more of something there is, the less it's worth.
The issues with currencies like the dollar are that the resource is infinite and that humans are in charge of that resource.
The government can keep on printing dollars for as long as it likes, in whatever quantity it feels like, with little to no short-term consequence. In fact, that's what it's doing in an effort to pay off its trillion-dollar debt.
Long term, however, this activity is damaging the economy beyond repair. This level of shortsightedness comes from the fact that humans are the ones pulling the strings.
With resources like fish and crops, humans don't decide how many fish are in the ocean or how much they can plant, can they? They are limited by things like seasons, field size, and the size of their fishing boat.
This lack of control naturally increases the value of these resources as it makes them scarcer. With humans controlling the production of currency, this basic aspect of economic design is obliterated.
Bitcoin solves both of these problems in one fell swoop. The blockchain is responsible for the creation of new Bitcoin units, completely eliminating the human element. It's built on a diminishing returns system that decreases the automatic production of the coin every four years.
What's more, the blockchain doesn't just make new coins and release them into the ether. To actually get those coins into the economy, the blockchain pays the independent people that keep it operational with them. These people are called Bitcoin miners.
This allows Bitcoin to flow far more naturally than what are ultimately pseudo-currencies like the dollar and euro.
At Bitcoin Secret, we facilitate the trading of Bitcoin in an easy to digest manner that allows you to access the market easily. There's no complicated terminology, UI, tools, or tactics here. It's an environment that lets you dip your toes into the Bitcoin waters.
When you're trading Bitcoin Secret, there are few things to keep in mind, one of which is that Bitcoin behaves more like a commodity than a currency.
We've mentioned this briefly when we talked about Bitcoin being digital gold, but let's dive a bit deeper into it.
When you're trading on the Forex, you're dealing with miniscule changes in price that have big repercussions. You're never going to see any major currency jumping by 40%, 50%, or 200% overnight.
When you're trading Bitcoin and cryptocurrency as a whole, you can expect to see price movements like that.
The value of Bitcoin changes by a not so insignificant amount every single minute of every day. It doesn't maintain a stable value as the euro or pound does. It's volatile, but that volatility is a part of what makes it such a promising investment.
When you're trading Bitcoin on Bitcoin Secret, there are a few rules that you should try and follow. This isn't site policy so much as it is general advice for all of your trading, Bitcoin or otherwise.
First and most important of all, never trade what you can't afford to lose. Too many avid young investors have done things like taking out a second mortgage for investment only for that investment to go bad.
There is no profit in the world promising enough for you to gamble your home, and ultimately your life away.
No matter how much the team here at Bitcoin Secret and the wider Bitcoin community believe in the coin, it's still a wild and unpredictable asset. If one bad price movement is going to affect you dramatically, then avoid investing in it altogether.
A great piece of advice that the many of us on the Bitcoin Secret often hear is that if you have enough money to burn some of it without it affecting your life, then you're ready to make an investment.
That's not to say that investing is burning your money, far from it. Instead, it's a philosophy to take towards your investment risk management.
This advice includes any of you that are stuck in challenging financial situations. Living paycheck to paycheck or working overtime to make rent is difficult and draining, so the last thing you want to do is put even more pressure on yourself by investing some of that paycheck away.
Aside from that, try to take your investing slow. Bitcoin Secret is built to help you gradually ease into Bitcoin trading. It's an alternative to the vast oceans that the major brokers offer, so take advantage of that fact.
The more you gradually trade, the better you're going to get at it. You're going to recognize signals and patterns and eventually are going to be able to move on to larger and greener pastures.
When we set out to develop Bitcoin Secret, we did so with a mission. We wanted a safe environment for weary and fledgling traders to get their sea legs before they set sail on the Bitcoin ship.
We're confident in saying that we have achieved that. By staying committed to our goal, Bitcoin Secret has become a community, not just a trading platform.
It's a medium for growth and education, rather than simply being a place that you can earn a few extra bucks.
We're extremely proud of this fact, and we hope that you stick around long enough to become a part of the family.
Signing up for an account is quick and easy. There are no long verification processes like you're used to with major mainstream brokers. All it takes is for you to fill in a quick bit of information and verify your email.
Once that's done, and you make your initial deposit, you can start off your Bitcoin trading journey.
We aim to have you up and trading the same day that you sign up, so what are you waiting for? Every second wasted is an opportunity lost.
Given that we aim to facilitate an environment for new and inexperienced Bitcoin traders, we've heard all kinds of questions surrounding the technology and the market. Some of these questions tend to be asked more than others, so we've put together an FAQ section for you to read up on.
When we're talking about fiat when it comes to Bitcoin, it's the name given to all physical currencies. The dollar is a fiat currency the same way that Bitcoin is a cryptocurrency.
When you first start trading Bitcoin, it can be tough to figure out how much you should start with. Keeping the Bitcoin Secret trading rules in mind, you should aim to put aside $250 to start with. This is going to give you a stable base to start trading from without being too high that it possesses a major financial risk.
Absolutely no one. One of the appealing things about Bitcoin is the fact that it's decentralized. There is no major controlling party pulling the strings behind the scenes. It's an automated network that runs off of independent nodes. Nobody even knows who created Bitcoin.
In this context, this is the name we're giving to Bitcoin miners. Each "mining base" is full of servers that allow the Bitcoin blockchain to operate through them. These are the nodes that make up the Bitcoin network.
Nobody knows the true identity of the Bitcoin creator. All that we know was that it was released in 2009 by someone or something called Satoshi Nakamoto. Who Satoshi is or where they are is a complete mystery. We don't even know if they're an individual or a group.
Yes, Bitcoin is a finite resource. Once a certain amount of Bitcoin is produced, there isn't going to be anymore. This is what gives Bitcoin its intrinsic value, similarly to gold. However, we're not going to reach that Bitcoin cap for another 120 years, so don't worry about that affecting the price anytime soon.
Both holding Bitcoin as well as shorting it are viable strategies. Depending on your intentions in the Bitcoin space, either one is fine. The team at Bitcoin Secret likes a mixture of both, though. By having a reserve of coins that you're holding, you're insuring yourself against a sudden price surge. Then, with a separate reserve, you can short trade to make some quick profits as much as you want.
Bitcoin has to be stored on digital wallets. You can either use a hot wallet, which is a software you install onto your phone or computer, or you can use a cold wallet. Cold wallets are devices specifically built to house Bitcoin and can be bought online.