Bitcoin Price, BTC/USD Exchange Rates
Bitcoin – Detailed Information and Review
The first cryptocurrency in the world, created by the Japanese programmer Satoshi Nakamoto in 2009, is at the top of the rating. Today it is the most popular virtual currency on the market and although its legal status may vary in different countries, bitcoin transactions are allowed in Japan, Canada, the USA, Singapore, some countries of Europe, Australia, etc.
Transparency of the system, the inability to counterfeit the cryptocurrency and its complete decentralization have become undoubted advantages of the virtual currency, which allowed it to rapidly increase the number of users.
It’s the first and currently most popular decentralized digital currency, which was created in 2009. The technology behind it is blockchain, a public ledger payment technology which takes intermediaries (such as banks and other service providers) out of the financial equation. Bitcoin’s emission is not controlled by anybody, the currency issue occurs through “mining” – the work of powerful computer processors around the globe using a program for calculating mathematical algorithms. This decentralization, i.e. absence of controlling institution, makes bitcoin independent from state regulators, banking and finance institutions and that is both an advantage and a drawback for the coin.
As most financial regulators are still forming their position on this and other cryptocurrencies this year’s price rally has resulted in Wall Street gurus calling bitcoin a “fraud” and “bubble”. However, investors’ interest in bitcoin is seemingly unstoppable as more and more brokers and hedge funds are offering investment opportunities for crypto fans.
If you want to add bitcoin in your investment portfolio, there are plenty of options for you: mining, trading bitcoin on one of cryptocurrency exchanges, accepting payment for your services in bitcoin, trading cryptocurrency using CFDs and event getting paid in bitcoin.
Today the reputation of bitcoin has become so strong that it is now accepted by large retailers, including Amazon, Subway and even Victoria’s Secret. The popularity of generating or “mining” of bitcoins is growing – users compete for a chance at verifying the next block of payments. The system is arranged so that participants run the algorithm on their computers, which must find the correct code – “hash”. Miners who find the code receive a small amount of bitcoins as a reward. This process requires great processing power and energy costs, so if you still want to invest in bitcoins, you can buy this currency on one of the crypto-exchange exchanges.