Bitcoin has many times been declared dead, useless or worthless (more than 382 times, according to 99bitcoins.com), but it is clear that, eleven years after its creation, it is still there. On the rise in the long term, but terribly fluctuating in the short term. For novices, it’s better to consider small regular purchases and aim for the long term. They will be able to buy Bitcoins through a platform or through a broker, such as Coinbase or Paymium (see table).
STOCKER AU FROID
For storage, Charlie Meraud, CEO and co-founder of Woorton, advises against leaving them at intermédiaires : « I recommend that if you want to keep them for 10 years, keep them in the cold [offline]. « With BitGo or Vault applications, for example, on smartphones, or on USB Ledger or Safe-T flash drives. But at the risk of losing the key.
But there’s the possibility of retrieving your funds using a secret phrase. However, if this password is also lost, the assets are permanently lost. In any case, an investment in a cryptomony, Bitcoin or other, carries a high risk of capital loss. For those who want to enter the market, the only question is pas : you have to start with Bitcoin, » says Manuel Valente, director of research at Coinhouse. Anything beyond bitcoin or ether is more complex and speculative, even ripple [fourth market capitalization]. « But ripple is a good illustration of the value propositions of each asset that are important to know before making a choice. Here is a review of the three main cryptomoney schemes.
BITCOIN: THE BASIS
Bitcoin wanted to become a decentralized currency and a means of payment, and it is in the process of earning its place at pari : in France, bars and several stores (the Bitcoin.fr website lists hundreds of them) accept it at the checkout. The computer publisher P.O.S made a big noise in September 2019 by announcing that it would allow 25,000 points of sale (including supermarkets) in France to accept Bitcoins.
In reality, it will be an option of its payment software, but the decision will remain at the discretion of the establishments.
ETHEREUM: IF… THEN…
The Ethereum blockchain, meanwhile, has the particularity of being able to create smart contracts between buyers and vendeurs : « With the ether [the Ethereum token], I can make transactions with conditions, » says Manuel Valente. By exemple : « Only pay the money if the PSG wins its game. « This requires a trusted third party, an « oracle », who indicates on the blockchain whether or not the condition : the PSG site, in our example, or a notary.
THE RIPPLE AND PROOF OF AUTHORITY
« The ripple [the precise name of the token being XRP], unlike the first two, is not decentralized, » says Manuel Valente.
This cryptography is managed by the company of the same name, which also controls the list of individuals authorized to validate transactions. This is a kind of « proof of authority », while the first two operate with a « proof of work », which allows anyone to undermine.
If you are a beginner, go through an actor based in the European Union, or even in France, more simply, and don’t venture further than Bitcoin and ether.