Bitcoin is not just a digital currency, but it is a financial revolution. If you are starting trading on Binance, it is essential to have basic knowledge about BTC.
1. What is Bitcoin?
Bitcoin is the world's first Decentralized Cryptocurrency created in 2009 by Satoshi Nakamoto. Its purpose is to enable the transfer of money without banks or third parties.
Limited Supply: The total supply of Bitcoin is only 21 million. This is why it is also referred to as "Digital Gold."
Blockchain Technology: It operates on a secure ledger that cannot be edited or hacked.
2. Why Trade Bitcoin on Binance?
Binance is the world's largest exchange, and there are some special benefits to trading BTC here:
High Liquidity: You can buy or sell BTC at your desired price whenever you want.
Security: Binance's SAFU fund keeps your assets safe.
Trading Pairs: You can easily exchange BTC for USDT, FDUSD, or your local currency (via P2P).
3. Factors Affecting Bitcoin's Price
Why does the price of BTC go up or down?
Halving Event: Every 4 years, Bitcoin's supply decreases, which often leads to an increase in price.
Institutional Adoption: When large companies (like Tesla or MicroStrategy) buy BTC.
Market Sentiment: The Fear and Greed index determines the market direction.
Pro Tip: Always wait for "Buy the Dip" and use DCA (Dollar Cost Averaging) instead of investing all your money at once.
