The first widely-adopted cryptocurrency in the world. Bitcoin enables users to safely and directly send digital money over the internet. The trend of investing in “Digital Assets” has grown in popularity and has piqued the curiosity of a large number of individuals. However, because it is a new financial asset, it is vital to conduct thorough research before investing.
What is Bitcoin ($BTC)?
Bitcoin is a decentralized digital currency that enables direct purchase, sale, and exchange without the use of an intermediary such as a bank. It was the first cryptocurrency, launched in 2009, and remains the most widely traded. It has a maximum supply of 21 million coins, and that is the only amount that will ever be available.
Each and every Bitcoin transaction is recorded on a public ledger that is visible to everyone, which makes transactions difficult to reverse and impossible to fake. Since its public launch in 2009, Bitcoin has risen dramatically in value. Institutional investors began to regard it as a form of digital gold in order to protect themselves against market volatility and inflation.
Where does it come from?
Satoshi Nakamoto – commonly thought to be a pseudonym for an individual or group of individuals whose specific identity remains unknown – created Bitcoin. Hal Finney, a programmer, was one of the first adopters, contributors, and receivers of the first $BTC transaction. Finney downloaded the bitcoin software on its first day of availability and got ten $BTC from Nakamoto in the world’s first bitcoin transaction. Nakamoto is said to have mined 1 million $BTC in the early days, prior to abandoning any engagement with it.
A satoshi is the smallest unit of the $BTC cryptocurrency. According to the software rules, each Bitcoin can be subdivided into a ratio of 100 million to 1, meaning:
