No doubt, it is a blessing that we are living in a digital era. While it is evolving further day by day. Meanwhile, people have transformed their ways to invest and earn money. The young entrepreneurs are looking to do smarter work online to earn more. There are different ways to do business online. Cryptocurrency is also one of them. The trend to invest in cryptocurrencies is increasing day by day. Meanwhile, Bitcoin Cryptocurrency is one of the most famous and popular digital currencies to trade. TOP10.DIGITAL has brought here all the details for your ease.
What is Bitcoin Cryptocurrency?
Bitcoin is one of the most popular and number one cryptocurrencies in the world. Moreover, it is digital or electronic cash with no central bank or platform involved. Further, it can be sent from users to users without involving any third party using peer-to-peer technology. In other words, it is like a computer file that users store on a digital wallet without revealing his identity.
How Bitcoin came into being?
In 2008, when allegedly scandals against banks came in the limelight for scamming the clients. So, an anonymous group or person created trust-less, physically cash-less currency. The core purpose of Bitcoin was to curb the presence of third parties. So, individuals can trade with each other directly. Eventually, it has taken the market by storm and many big companies are accepting payments in Bitcoin.
Who created Bitcoin?
Well, this has always been a mystery about the founder of Bitcoin Cryptocurrency. However, people assume that Satoshi Nakamoto is the founder of Bitcoin. However, it is not confirmed because nobody knows either it is a group or an individual. Craig Wright and Nick Szabo are also in the list of Bitcoin founders. It is also worth mentioning here that Satoshi Nakamoto also holds the highest number of bitcoins approx 1.1 million.
What is the price of Bitcoin?
The current price of bitcoin is $11,745.20. While in 2009, its price was just $0.30. So, you can well imagine how popular it has become in the world. Even its price also went up to $13,000 and during the COVID-19, it dropped significantly. However, it recovered and again crossed the $10,000 mark.
How Bitcoin Cryptocurrency price goes up and down?
This is one of the most asked questions. While the answer to this question is that demand and supply determine the value of Bitcoin. There are very few numbers of bitcoins in the market and new bitcoins are generated at a decreasing rate. Therefore, when demand is high the price would be high and vice versa.
How can I buy Bitcoin?
To buy bitcoin cryptocurrency, you will have to install a wallet software into your computer. This digital wallet allows you to send, receive, and transfer bitcoins. After that, you will have to deposit money into an online exchange that connects buyers and sellers. So, if the exchange accepts your money, you can place your order similarly as you place an order for a stock.
Is it to safe to trade Bitcoin?
Yes, it is safe as there are rare chances of a scam in Bitcoin Cryptocurrency. However, the minimal risk always exists there. But they have a distributed computing server in the world and its cryptography and protocol have a strong security track. Moreover, it keeps your identity hidden and you trade anonymously.
TOP10.DIGITAL has concluded that the corona pandemic has forced the people to think about multiple income streams. While the power of the internet is providing a lot of opportunities to invest and earn a good profit. Bitcoin Cryptocurrency can be also one of those opportunities. So, you can also consider trading Bitcoin if the investment is not an issue for you.
You can visit the official Bitcoin website here