What is Bitcoin?

What is Bitcoin
What is Bitcoin

Bitcoin was the first cryptocurrency in the world. It's a digital currency, everybody can use it to pay for different things all over the globe. Bitcoin is based on the blockchain technology and the blockchain is used to store the whole information about all transactions in it. Today, there are a lot of different cryptocurrencies, but Bitcoin is still the biggest one out there. A lot of other cryptocurrencies have a specific use, therefore they are no direct competitor to Bitcoin. For example, Ethereum is specialiced in smart contracts, TRON tries to reward content creators. More and more companys are starting to accept Bitcoin or other digital currencys as payment. To make payments easier, 1 Bitcoin is divided into 100 million Satoshis. With that, even small amounts can be easily paid with Bitcoin.

Who created Bitcoin?

Bitcoin was created by Satoshi Nakamoto in 2007. In 2009, he released it to the public and since then, everybody can mine for Bitcoins. In the first few years, the price of one Bitcoin was below 1 Cent. The first few people who believed in Bitcoin and hold them for a few years are really rich now. Till today, nobody knows who exactly Satoshi Nakamoto is and his identity remains hidden. He invented Bitcoin and implemented the blockchain in the digital currency. He tried to make a digital currency for everybody worldwide with cheap, fast and anonymous transactions. His intentions were really good, but today, Bitcoin faces some problems like slow transaction speed and the price gets dominated by professional investors. But despite all problems, Bitcoin keeps rising higher and higher and proved more than once, that it will stay strong and won't go down easily.

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How much is Bitcoin?

The price of Bitcoin is very fluctuating. The all time high was achieved on 18. Decemer 2017. The price back then was 19.498,63 Dollar. Since then, the price kept going down, but one Bitcoin is still worth a lot. Below, you can find the real time price of Bitcoin. But be wary, the price depends on the plattform you want to sell it. If you intend to buy or sell Bitcoin, check the different marketplaces to make the best deal.

Keep in mind, that an investment in Bitcoin can lead to some heavy loses, because the price keeps going up and down really fast. You can easily lose 10 % or more of your investment in the course of one week. But of course, you can also make some profits with Bitcoin. But before you invest, make sure you know what you do.

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