About digital assets
Since its birth in 2009, digital assets represented by Bitcoin have developed rapidly around the world as an innovative practice of Internet technology.
At present, digital assets such as Bitcoin have tens of millions of users around the world, in hundreds of countries.
Blockchain technology is derived from Bitcoin, which is the largest application practice of blockchain at present.
Many world celebrities have compared Bitcoin to the invention of the Internet, and believe that Bitcoin and the blockchain behind it are the “Internet of Finance”, which may reconstruct the financial system from the bottom.
As the popularity of bitcoin and blockchain continues to rise around the world, many world-leading venture capital firms and the best entrepreneurs have poured into the industry, and an economy based on bitcoin and blockchain has taken shape.
Globally, world-leading companies such as Google, Goldman Sachs, SoftBank, and the New York Stock Exchange have invested in a number of startups in this field, with a total investment of billions of dollars.
It is foreseeable that in the next 5-10 years, bitcoin and blockchain will appear in banking, securities, insurance, auditing, notarization and other fields, and the market size of bitcoin and blockchain economy may reach hundreds of billions of dollars.
4 reasons to hold Bitcoin
From a global perspective, there are currently five main views on Bitcoin in the mainstream industry, and a consensus is gradually being formed.
First, Bitcoin is a virtual commodity with certain investment properties;
Second, Bitcoin is a peer-to-peer payment method, and it is possible to challenge Visa’s monopoly in the future;
Third, as an underlying blockchain, the Bitcoin blockchain provides consensus solutions for other public blockchains.
Bitcoin itself is the fee for using this underlying blockchain, and the Bitcoin blockchain may become the Infrastructure for other blockchain applications;
Fourth, Bitcoin is a virtual currency on the Internet, with certain monetary attributes, and certain payment attributes in a specific Internet community;
Fifth, Bitcoin is a reserve asset similar to gold.
Because of its standardization, splitability, and online transmission, it has huge advantages in payment efficiency and storage costs.
It may become “digital gold” in the future, and It is a global asset that may replace gold in the era of the Internet of Value.
Most countries currently do not recognize Bitcoin as a currency, but define it as a virtual commodity, but many countries have already formulated corresponding policies to regulate or support its development, and have become more active from neutrality.
The United States has incorporated bitcoin into the traditional financial supervision system, requiring bitcoin-related companies to apply for an MTL (money transmission license).
Some countries put bitcoin companies into sandbox supervision, and some countries emphasize that bitcoin’s economic activities need to be taxed according to regulations; Japan’s FSA officially recognizes the currency status of bitcoin and digital currency, and stipulates that digital currency exchanges must be registered with the FSA; Russia once After the introduction of a bitcoin ban, Russia has liberalized bitcoin transactions after many countries introduced corresponding policies; Raghuram Rajan, governor of the Indian central bank, believes that before a deeper understanding of bitcoin, it should not be strongly interfered, but should be studied in depth.
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How to buy and store digital currency safely?
Digital currency is a new type of digital asset widely known as Bitcoin (BTC).
While cryptocurrencies or digital/virtual currencies work very similarly to traditional fiat currencies, the biggest difference between the two is that the former does not have a centralized infrastructure and banks involved.
Fiat currency is issued and stored by banks, while digital currency is issued and stored in the blockchain through a distributed mechanism that strictly follows a consensus protocol. Blockchains are largely immutable. Therefore, digital currency is more transparent and global than fiat currency.
Digital currency is becoming more and more popular with investors because of its practicality and wide range of application scenarios. You can buy digital currency on a reliable digital currency exchange. Users can start using credit cards, debit cards, Buy Bitcoin and other digital currencies with various payment methods such as bank transfers.
When buying digital currency, you usually need to store it in a dedicated wallet. So the security of your assets depends on your safekeeping of your private keys. Every digital currency wallet has a private key used to access and manage the digital assets stored in the wallet. If you lose your private key, it means you lost the assets in your wallet.
Exchanges such as Binance also provide users with services to store assets for this pain point. The digital assets newly purchased or traded by the user will be directly transferred to the user’s platform account and safely stored in the platform, and the user can sell and transfer it at any time as needed.Therefore, users can buy digital currencies on reliable exchanges. If the user chooses to withdraw digital assets to a personal wallet, the private key should be properly kept and backed up to ensure asset security.