#Bitcoin from zero to one: Lao Liek takes you to understand the principles, play with transactions, and get the most out of the exchange

Hey, I am an old friend of CoinRebate. I have been in the currency circle for so many years and have seen too many novices get scammed by pheasant exchanges and lose all their money. Today, instead of dealing with those vain theories, we will talk to you about this "digital gold" that countless people love and hate - Bitcoin. Whether you are a newbie who has just heard about this thing, or an experienced person who wants to make up for it systematically, this down-to-earth guide can help you gain a clear understanding of BTC.

1. What exactly is Bitcoin? Where did it come from?

In human terms, Bitcoin is a peer-to-peer electronic cash system. It is not controlled by the central bank and is not under the control of the government. It is maintained by thousands of nodes around the world. The inventor is a mysterious boss with the pseudonym "Satoshi Nakamoto". After the financial crisis in 2008, he released a white paper and it was officially launched in 2009. Since then, the currency world has been turned upside down.

Its core is blockchain technology. You can think of it as a globally shared public ledger that no one can tamper with. Each transaction is packaged into "blocks", connected like a chain, open and transparent, and easier to check than turning over old accounts.

2. Why is Bitcoin so safe? Old Leek will dismantle it for you

Decentralization: There is no central server, and data is scattered in computers around the world. Want to hack it? Unless you unplug all the nodes in the world - this is more difficult than reaching the sky.
Encryption Algorithm (Mining): New Bitcoins are produced by "mining". Miners use their computing power to solve mathematical problems, verify transactions, maintain the network, and earn some new coins as a reward for their hard work. This process ensures that the network is as stable as an old dog. Once the transaction is on the chain, do you want to regret it? No way.
Constant total amount: There are only 21 million Bitcoins. They will be mined and will never be issued again. This scarcity is comparable to gold, and it is also the basis for its value to rise.

3. What can Bitcoin do? Don’t just think about “coin speculation”

Many people think that Bitcoin is just for speculation. In fact, there are many ways to play it:

Storage of Value: Many old leeks hoard it as "digital gold" to fight inflation and make long-term asset allocation - much better than leaving it in the bank to depreciate.
Cross-border payment and transfer: It is especially suitable for large-amount cross-border transfers. It is fast and the handling fee is much cheaper than that of traditional banks. It is a favorite among those who do not use it.
Smart contracts and the underlying assets of DeFi: In ecosystems such as Ethereum, Bitcoin can participate in decentralized finance across chains and earn some interest.
Payment method: Although prices fluctuate greatly, there are already a number of merchants around the world that accept Bitcoin to pay directly. It may be used to buy groceries in the future.

4. How to get your first Bitcoin? Teach you step by step how to avoid pitfalls

**⚠️ Important reminder: The first and most important step is to choose a safe, formal, and licensed exchange! Don’t be cheap and search for those pheasant platforms or unknown links. The safety of your assets is a big deal. Don’t wait until you are cut off before you cry! **

For novices, I strongly recommend starting with the world's top centralized exchanges (CEX). They are simple to operate, have good liquidity, and have guaranteed assets - at least better than those that run around every day.

Step 1: Register an exchange account

Here I will take Bybit, which has the largest trading volume in the world, as an example (it is very friendly to novices, and the interface is refreshing and not fancy), and I will take you step by step:

Stick the exclusive registration link: Use the Bybit official secure registration link provided by our CoinRebate to ensure that you can get the highest handling fee discount.

Registration link: https://www.bybitglobal.com/invite?ref=ODXBWMN
Recommendation code: ODXBWMN (the link has been automatically filled in)
OFFER: Register through this link and you can get a permanent 20% transaction fee rebate. Don’t be too little, the savings you’ll save after trading for a long time are real money!

Get email/mobile phone verification, set a strong password, and turn on two-step verification (2FA) - this is the basic operation to protect your account, don't be lazy.
Complete identity verification (KYC): Follow the prompts to upload your ID card or passport. This is the rule of a compliant exchange and is also for the safety of your wallet.

Step 2: Deposit to buy Bitcoin

Fiat currency deposit: In Bybit’s “Buy Coin” or “Fiat Currency” area, you can directly buy stablecoins such as USDT using bank cards, Alipay/WeChat (depending on the region).
Coin-to-Coin Trading: Use the purchased USDT, go to the trading area to find the BTC/USDT trading pair, and place an order just like buying stocks.

Step 3: Deposit coins safely

Newbies and small funds: It is not a big problem to put it on the exchange. A large exchange like Bybit has a high safety factor and few pins.
Large assets or long-term currency hoarders: It is recommended that when mentioning your hardware wallet (such as Ledger, Trezor), remember the old saying: "Not your keys, not your coins" - if the private key is not in your hand, the coins are not yours.

5. In addition to Bybit, what other reliable exchanges are there? It doesn’t hurt to have a few more.

Don't put all your eggs in one basket. Learn more about several top platforms. Each one has different features and new currency listing speeds. You might be able to use them one day. The following are the major licensed firms that we have carefully selected and offer the highest commissions:

| Exchange | Features | Exclusive registration link and rebate | | :--- | :--- | :--- | | Binance | The world's largest, most complete currency, suitable for experienced players | Link: https://www.maxweb.black/join?ref=LULALA Code: LULALA Rebate: 20% OFF | | OKX | Rich product line, the first choice for playing contracts and derivatives | Link: https://www.lywebuuz.com/join/LULALA Code: LULALA Rebate: 20% OFF | | Bitget | The copy trading system is well done, a tool for beginners to copy homework | Link: https://partner.dhxrcw.cn/bg/dtw2za9n Code: lu8888 Rebate: 20% OFF | | Gate.io | Altcoins and innovative coins are launched quickly, a treasure trove of gold | Link: https://www.gatesite.cloud/signup/UQJBUVo?ref_type=103 Code: UQJBUVo Rebate: 30% OFF |

**Remember: for all registrations, please follow the official invitation link above, so as to lock in the permanent fee discount. Don’t register blindly and lose the commission! **

6. A few truths for newbies

Spare money investment: Only use money you can afford to lose. The cryptocurrency market fluctuates like a roller coaster. Don't go all-in or borrow money to speculate in coins - that's seeking death.
Continuous learning: Understand K-line charts, understand market sentiment, and study project fundamentals, which is 10,000 times better than blindly following the trend. Don't be a leek. If you want to be a leek, just be an old leek.
Be stable in your mentality: Don’t dream of getting rich overnight, and don’t panic and cut your flesh because of short-term declines. Fixed investment is a stupid method, but it is often the most effective.
Safety first: Again, take care of your account password and two-step verification code, and don’t click on any unknown links - there are more scammers in the currency circle than dogs.

The door to Bitcoin is already open to you. This road has its pitfalls, but the first step is to register on a safe and reliable platform.

**Hurry, click CoinRebate’s exclusive link to register Bybit, start your crypto journey, and get the permanent fee discount! **

If you have any questions about exchange registration and KYC, please come back to us at any time. I wish you avoid pitfalls in the crypto world and make more money!