How to Bitcoin: Everything you wanted to know about crypto

Usually the phrase goes "everything you wanted to know but were afraid to ask", but here at Invity we're all about removing fear and uncertainty from crypto altogether. That's why we've put together this easy-to-navigate directory of articles published over the years in an effort to answer the most common questions we get from crypto beginners.

Key takeaways

• Bitcoin works as a result of a worldwide network, called the blockchain, and the people who participate in that network.
• Storing Bitcoin securely means choosing a trustworthy wallet and practicing good tech awareness.
• Investing in Bitcoin is a process, rather than a one-time bet; it's also open to anyone, anywhere.

How does Bitcoin work?

You don't need to be a tech whiz to use crypto. Still, knowing what makes Bitcoin tick can help you make sense of crypto news and inform your investing approach—think of it like studying a firm's business strategy before buying its stock.

Read more or less in order, the articles below should paint a fairly clear picture of how blockchains, Bitcoins, and the physical machinery behind them work and work together.

• What is a Bitcoin?
• What is blockchain technology?
• What are blocks in blockchain?
• Mining crypto: The engine of blockchains
• How blockchains decide: A guide to crypto and consensus
• Block rewards and halvings
• Proof of work vs. proof of stake: Crypto's eternal debate
• What is Bitcoin's hashrate and why should you care?
• Crypto transaction fees: How much it costs to send Bitcoin

Moving too fast? Go back to basics

If there's still too much jargon, Invity also has glossaries to build your crypto knowledge from the ground up.

• Cryptocurrency Terms to Know for Beginners
• Cryptocurrency Terms to Know for Intermediate Users

How do I store my Bitcoin safely?

Once you've decided to invest in BTC (good for you!), it only makes sense to protect your investment. You'll need to choose a wallet and flex your online street smarts, but there's more to it than that if you want top-level security. For instance, here's one bombshell you may not know: you're not actually storing your Bitcoin, you're storing the keys to your Bitcoin.

For a quick and dirty overview, check out our ultimate guide to safely storing, buying, and trading crypto. For optimal crypto safety and a refresher on safety in today's world, we recommend working though the articles below.

• Public keys, private keys, and key safety
• Seeds of security: Introduction to recovery seed phrases
• What's the best Bitcoin wallet? (and how does one work?): Crypto wallets explained
• What is crypto custody and why is it important?
• Bitcoin security: Tips for buying crypto safely
• How to identify and avoid 5 types of phishing tactics

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How can I invest in Bitcoin when it's so expensive?

As the price of one Bitcoin steadily rises from €20,000 to €50,000 to €100,000 and beyond, it's easy for newcomers to dismiss the idea of ever getting in on the action. But here's the fact that isn't often clarified by breathless news reports: you don't have to buy one Bitcoin all at one time—or ever. Instead, it's possible to collect pieces as small as 0.00000001 of a Bitcoin, or more commonly a handful of these decimal points (for instance, €10 is currently worth about BTC 0.00011).

Combining your pocket change with time and persistence can allow you to slowly but surely stack up your crypto investment while still benefiting as prices rise. Read more on this beginner-friendly approach below.

• Dollar-cost averaging: Bitcoin's secret weapon
• A deeper dive into dollar-cost averaging in crypto investing
• Taking the long view: A Bitcoin price retrospective

How do I get started with Bitcoin?

Step one is to educate yourself about what you're getting into—so you're already in the right place. Step two is to find a trustworthy partner to facilitate exchanging your cash for crypto, protecting your investment, and following through on your investing strategy. We hope you'll make Invity that partner by downloading our easy-to-use app tailored specifically for the first-time Bitcoiner.