What is bitcoin?
A thing which is so impalpable has a real value. A cryptocurrency, unlike its complicated name, has a not-so-complicated meaning. Cryptocurrency is a digital currency or a virtual currency, more like digital cash for the digital age, similar to regular money, but it is digital. Without any central bank or an administration, it can be sent from one user to another. This fascinates individuals and groups uncomfortable with the control of banks or government institutions have over their money. It is an innovative payment network and created in 2009 by a person called Satoshi NakaMoto.
Reasons to buy a bitcoin.
- The Bitcoin is bought to the market by a team of what one might say, very skilled people, or even a single person. Nevertheless, this invention has emerged to the top of the triangle and has made its place prominent as the most famous and oldvirtual currency.
- Tracing back the path to its history, the Bitcoin was first introduced to the world by an anonymous developer [or developers] satoshi nakamoto1 on the 3rd of January 2009. What is most fascinating about this currency is that it is virtual. All the steps and processes happening at this platform are done virtually; by nature, the Bitcoin is in no way physical. It is wonderful, in a secure digital platform, saved virtually.
- What makes it even more desirable is that this currency is not regulated or supplied by the government, hence drawing a large number of customers to buy bitcoin; these bitcoins in no way hold you within boundaries of any kind and do not follow I need traditional or customary procedures of online payment, neither are they controlled by a centralized authority, a decentralized authority looks overall actions.
Investment in Bitcoin
With its rise in demands, to bitcoinwould be a good investment plan; if one is on the lookout for a profit on the short term end, the process is very simple; it has been made easy for people to trade Bitcoin for either cash or other properties that one physically owns, like an estate or gold. It can also be considered a good long term investment because of the increase in its popularity.
The safety side of this is not overlooked in any way, for the value that these digital means of cash hold. Hence, they are also given the name cryptocurrency, the passwords maintained are strong, and all the transactions are recorded by blockchain, a system employed by the developers.
The Bitcoin price has surpassed limits, to say the least, common by spiking from a mere zero-point $3 in 2011 to a whopping 19,783.06 dollars in the year 2017; also, to note, these values keeps spiking and fluctuating, depending on a variety of factors, many of which haven’t been figured out since the time of its advent. The invention has had its shares of profits and losses, but looking at it from a further point of view, it is safe to see it has many places to be and is going to be for a long time.