Are you using Bitcoin? Bitcoin and Ethereum are called “virtual currencies“, and the convenient aspect is that they can be settled on the Internet. On the other hand, it is a currency that is not guaranteed by the government, and it seems that its value may jump sharply or fall sharply. Let’s check the points to keep in mind when trading.
What is “Virtual Currency”?
“Virtual currency” is a payment and settlement tool that has the following characteristics according to the definition of the FSA.
- Items that can be used for payment, etc. and can be exchanged for legal currency such as Japanese yen or US dollars
- Items that can be electronically recorded and transferred
- Items that are not in legal currency or denominated in legal currency such as prepaid cards
In other words, is it something that can be used on the Internet rather than money that can be used like money but is guaranteed by the government?
Where to Buy and What Options Do You Have?
We recommend buying virtual currency from businesses registered with the Financial Services Agency/Financial Bureau. Also, get an explanation about the contents of virtual currency and fees from the registered business. Use contact page of bitcoin pro for trading.
It is also important to check the transaction history and balance carefully. Registered businesses are required to provide information to users at least once every three months.
Major Bitcoin operators (exchanges) include bitFlyer, bitbank Trade, and BITPoint. In addition to regular trading, it seems that there are places where leveraged margin trading and futures trading are possible. Check the fees, the security of your account, the financial status of the company itself, and open an account.
As of June 2017, the market capitalization of virtual currencies is Bitcoin, Ethereum, and Ripple that are the top three currently , with Bitcoin at about 4.4 trillion yen and Ethereum at about 2.35 trillion yen.
If Bitcoin plunges… What are the relevant stocks to watch out for?
It is the world of market prices that can soar and sometimes plunge. Positive thinking is great, but investors need to be prepared in case. If the Bitcoin price falls sharply, “bitcoin related stocks” in the stock market may be associated and the stock price may drop.
Bitcoin-related stocks include Remix Point and FISCO, which operate Bitcoin exchanges, Money Partners Group, which has business alliances with domestic and US Bitcoin exchanges, Real World, Ceres, VOYAGE GROUP, etc.
Seiko Fujimoto, a securities analyst, said, “You should buy a stock after simulating a sudden change in the stock price before investing.” (“I hate difficult things and keep earning money in stocks in Zubora. Method” SB Creative Publishing). For stocks and virtual currency trading, it seems that preparation is important before buying.
How Can I Get It?
Even if you go to a bank in the city with “Yen or Dollar” and say “Please change to Ethereum”, you cannot change money. There are three major ways to get Ethereum.
- Buy on the exchange
- Do Mining
- Receive as Consideration Other Than Mining
This is a method of registering on a virtual currency exchange that handles Ethereum and depositing and purchasing yen from convenience stores and banks. When you start investing in stocks, open an account with a securities company or a bank and deposit investment funds. Just do the same with virtual currency. There are exchanges where you can get Ethereum by exchanging for Bitcoin instead of Yen, and there are differences in the supported functions and fee levels. Check out some of the famous exchanges and pick the one that’s easy to use.
This is a method of participating in mining and receiving rewards. Since it requires an initial investment such as preparing a high-performance personal computer and spending a lot of electricity, it is a method for professionals rather than a challenge. As mentioned above, it is possible that the mining of Ethereum will soon be over.
The number of stores that accept virtual currency payments is increasing, led by major electronics retailers. If you are doing some business, you can also receive Ethereum for the service.