Bitcoin is one of the first cryptocurrencies that was invented in 2009 and since then has created quite a stir in the global market. Since its inception, there have been about 7,000 other cryptocurrencies that have entered the market like Litecoin and dogecoin.
While the other cryptocurrencies are also quite famous, none of them have been able to take the place of Bitcoin. People who serve the internet regularly come across this term once in a while but mostly steer away from it.
Contradictory to popular opinion, Bitcoin is not something to be afraid of and is something that can easily be accessed even if you are not a technological genius. It was originally created in order to supplement the government issued and regulated traditional modes of currency and is hence free from such Central regulation.
Which coin is also one of the most transparent currencies all around the world as everyone has access to the public ledger where each transaction is placed. It is regulated by a blockchain, each block representing transactions that take place using Bitcoin. For more information you can visit here bitcoin profit
How can you buy and bitcoin?
Buying Bitcoin is legal in several countries whereas some governments have banned the mining or usage of Bitcoins. However, it is possible for you to legally buy Bitcoins using some of the various centralized exchanges such as Binance, Coinshop, and other btc app. Most of these platforms accept payment via credit or debit card and the transaction is quite simple in general.
One of the most important things that you need to get your hands on is a bitcoin wallet which is much like a physical wallet just for your Bitcoins. Bear in mind that you will have to pay a small transaction fee every time you are mine Bitcoins from one of these platforms. There are in fact a number of Bitcoin ATMs where you will be able to get your hands on Bitcoins in exchange for cash.
Why is the popularity and price of bitcoin increasing?
Bitcoin has been known as one of the most volatile currencies all around the world. While it experiences sudden crests and troughs in its price, recently the price of Bitcoin has been increasing quite steadily. One of the most important reasons why Bitcoin price has been rocketing is simply because of the fact that the popularity of Bitcoin is also rising steadily. This has primarily made Bitcoin a more accessible and regular aspect of daily life. With people like Elon Musk and other popular names investing billions in Bitcoin, people have started to take cryptocurrencies more seriously than ever.
Tesla, one of the biggest electronic vehicle companies in the world has started accepting cryptocurrencies as a mode of payment which has piqued people’s interest in Bitcoin. There are even restaurants and travel agencies that are accepting Bitcoin as payment making it a household name. The rising popularity of Bitcoin has in turn led to the steady growth in its price.
What are the other cryptocurrencies of interest?
As already mentioned there are a number of other cryptocurrencies besides Bitcoin that has made a mark in the industry. Most of these cryptocurrencies are based on the basic principles of Bitcoin and try to make it better with advanced technology and better ideas. However the market cap for Bitcoin at the moment is around $925 billion making it occupy more than half the market for cryptocurrency.
The other cryptocurrencies that are also emerging as becoming extremely important in the future include ether, bitcoin cash, litecoin, dogecoin, monero and more. The most important and the common feature in all of these cryptocurrencies is that they are not governed by a central authority and are dependent on the users. Recently it has seen a huge increase and its prices making it a promising cryptocurrency for the future.
Besides being a medium of exchange cryptocurrencies have been accepted as a great investment in the long run. People are soon realizing the importance of cryptocurrencies like Bitcoin and are trying to get their hands on these virtual currencies. Get started now!