In 2008 anonymous software developer Satoshi Nakamoto proposed bitcoin, as an electronic payment system based on mathematical proof. It means that bitcoin could be transferred electronically in a secure, verifiable and immutable way. To this day, no-one knows who Satoshi Nakamoto really is.
Bitcoin is separated into two components. On the one hand, you have bitcoin-the-token, a code snippet that represents ownership of a digital concept. On the other hand, you have bitcoin-the-protocol, a distributed network that maintains a ledger of balances of bitcoin-the-token. Both are called “bitcoin.”Buy Now
Bitcoin is free from any purview by bank institutions or government bodies.
Bitcoin payments are not anonymous, but "pseudonymous". Transactions are transparent, but your identity cannot be tied to your bitcoin wallet unless you disclose both at the same time.
Bitcoin transactions cannot be reversed. This is because there is no central “arbitrator” that can return money back. If a transaction is recorded on the network, and if more than an hour has passed, it is impossible to change.
Bitcoin transactions are cheap. As no intermediaries stand between users, there is no one to pay tribute to.Buy Now
Currently, one bitcoin is worth $7083.55 (source: coinmarketcap.com). with such a big price, it is hard to buy the whole bitcoin. That’s why they are divisible and also can be quoted in small amounts, which are very useful for microtransactions. The price is driven by demand and limited supply. Bitcoins are traded on a huge amount of exchanges without any limits. As the quantity of bitcoins is limited, only 21 million coins can be mined, it causes the price to climb up easily.Buy Now
Bitcoin can be useful in many ways other than instant transactions. Here are a few of them:
Bitcoin is a highly flexible investment vehicle, compared to traditional assets like stocks, gold or commodities. You can speculate on the coin’s volatility, turning it to your advantage.
The era of crypto is on the rise. Already now you can instantly pay for your purchases, whether this is an international online shopping experience or a cup of coffee around the corner.
It’s hard to believe, but using bitcoin your money in any quantity would be sent anywhere on the earth in less than an hour.Buy Now