In mainstream media, Bitcoin is often described as a high-risk and purely speculative financial tool.
According to its original creator(s), however, Bitcoin is, much more simply, a payment system.
When we talk about investments, we usually refer to financial instruments (such as bonds and stocks) issued by companies and public entities to raise capital for specific economic activities, with the goal of generating profits to distribute to investors.
That is not the case with Bitcoin: funds used to buy it are translated only into ownership of a certain amount of bitcoin.
The value of Bitcoin (its exchange rate against traditional currencies) fluctuates according to supply and demand from people and organizations that hold it, similarly to foreign currencies. However, unlike traditional money and stocks, the total supply of Bitcoin is fixed and predetermined (21 million).
Bitcoin, as the native currency of this payment system, may therefore become a better long-term tool for saving and preserving purchasing power.
For this reason, it is sometimes compared to gold or real estate, historically used as "safe-haven" assets.
Technically, there are no minimum or maximum purchase limits. Even if 1 bitcoin is worth several thousand euros, because it is divisible into very small units, you can buy any euro-equivalent amount.
The experimental nature and early adoption stage of this technology means that its exchange value can fluctuate quickly and significantly. For this reason, it is advisable to start with money you do not need in the short term.
.To securely store, send, and receive bitcoin payments, you need an app called a wallet. To own Bitcoin, you must safeguard encrypted secret information called private keys.
To get started, I suggest Pocket Bitcoin, which lets you buy, send, receive, and store bitcoin securely (use code MATTEOG for a discount).
I also recommend Bitbox02, a hardware wallet (a USB-like device), as a safer solution for larger amounts and/or long-term storage.
There are many other wallets available: for a complete list, see bitcoin.org. There are also many trading and exchange apps. However, please note that solutions that do not provide exclusive access to private keys and/or recovery phrases (for example, access via email and password only), while potentially secure from an IT perspective, do not provide the same certainty of actual bitcoin ownership. They rely on intermediaries, similarly to traditional banking and payment systems.
Yes. At the following link, you can find a constantly updated list of merchants accepting Bitcoin: https://www.btcmap.org
Alternatively, you can buy gift cards and mobile top-ups on Bitrefill.
You are now part of the Bitcoin world and can start sending and receiving money digitally, instantly, and without intermediaries.
I hope this guide was useful. If you have any questions or curiosities, feel free to contact me.
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