Bitcoin. Hearing this two syllable word excites both curiosity and envy.
For one, it seems like a good way to make quick money, since Bitcoin has risen to over $19,000 from $1,000 earlier in the year. It's so enticing, a bunch of hackers may have stolen $70 million worth of Bitcoin.
But before pouring “real” money into this cryptocurrency, it’s probably a good idea to understand what you’re getting into.
What is Bitcoin?
Bitcoin is a digital currency created in 2009 by an anonymous person using the alias Satoshi Nakamoto. All transactions are anonymous. You don’t use a bank with Bitcoin; instead, you need a digital wallet ID to purchase or transfer Bitcoins.
While Bitcoin's original appeal was its anonymity. But people were first drawn to Bitcoin because of its lack of fees. With Bitcoin, you can make international payments without exchange rates or fees. And you can purchase goods and services without risking credit card fees.
Right now, many people are buying Bitcoin as an investment, praying it will keep soaring in value.
If you want to learn more about Bitcoin, you can catch the latest news over at The Blockchain
Is This Really A Male-Dominated Field?
For all its revolutionary promise, most of the people using Bitcoin are men. In fact, Google found that over 96% of Bitcoin users are male. We can only speculate at this point as to why, but we could attribute it to the face that the tech field is still male-dominated.
Since Bitcoin is a digital currency, it requires quite a bit of technical know-how to navigate transactions. Even experienced users share stories of lost coins and private keys. That’s not to say women aren’t able to navigate these sorts of things. It’s just that men are typically the earliest adopters in technical fields.
If you’re wondering if more women should get into the cryptocurrency space, the answer is a million times yes. I’m not saying this because I’m a woman. Rather, if Bitcoin wants to stay around the long haul, it needs to attract support from a wide variety of people.
The good news is an increasing number of women are organizing meetups and becoming vocal in the space. The founders of WomenCoin have an active online forum aiming to educate women on the possibilities of Bitcoin.
And if you do a bit of digging on Twitter, you’ll find more women in the cryptocurrency realm.
Another question about women and Bitcoin is how can companies create products and services to get into the cryptocurrency game. A huge number of women are savvy with their finances, have money to invest, and are interested in tech. It’s an incredible opportunity for those who jump on early.
What if I Want to Get Into Bitcoin?
While it may not be a get rich quick scheme, getting into Bitcoin isn’t a terrible idea. It’s ok that you may not understand a whole lot about Bitcoin. It's important to stay curious and ask a lot of questions.
Don’t worry if you feel dumb. After all, who truly understands Bitcoin?
Here are some questions you can explore:
- What exactly is Blockchain technology and how does it work?
- What kinds of cryptocurrencies are there?
- How do I buy and store cryptocurrency?
- How can I use Bitcoin?
- How did Bitcoin get so valuable if it’s not tied to conventional currency?
- Is there any surefire way to know how high Bitcoin will go?
- What are the latest predictions for Bitcoin?
- Where can I trade Bitcoin?
- How can I protect myself from scammers?
- How risky is Bitcoin?
Bitcoin is pretty cool. It ensures privacy, removes government control, and removes exchange rates. No one really knows what will happen with the cryptocurrency, but enough companies are taking it seriously - and perhaps so should more women. Who knows, perhaps one day Bitcoin will become the main form of currency.