Think about how easy it is to make copies of your computer’s data-documents, photos, files, etc. First, it was designed to prevent crypto coins from being fraudulently duplicated. Coins have no intrinsic value, and they aren’t backed up by gold or silver.īitcoin was created to solve a couple of big cryptocurrency flaws. Virtual “coins” or “tokens” are used in a cryptocurrency system instead of physical cash.
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So, what exactly is Bitcoin, and how can you determine whether it’s the right investment for you? Read our beginner’s guide on how to invest in Bitcoin.īitcoin was created by a programmer or group of programmers using the name “Satoshi Nakamoto.” But the real creator(s) of Bitcoin is still unknown to the public.īitcoin is one of the most widely used types of cryptocurrency. Recent developments have contributed to Bitcoin’s meteoric rise in value, and proponents of the asset are convinced this is just the beginning. There’s no doubt about it: momentum in Bitcoin is certainly building. (NASDAQ: COIN), today’s leading cryptocurrency exchange platform.
Despite all of that, however, the most important development for Bitcoin maybe the recent IPO (initial public offering) of Coinbase Global, Inc. Several popular FinTech (financial technology) companies like Square and PayPal also announced their intentions to support cryptocurrencies moving forward. One tailwind, in particular, is the acceptance of Bitcoin by several high-profile individuals and businesses.Įlon Musk, the mind behind both Tesla and SpaceX, recently announced his automotive empire would not only purchase $1.5 billion in Bitcoin, but it also intends to accept the cryptocurrency as payment in the future. More people are buying into Bitcoin becoming a decentralized, global currency. Most recently, Bitcoin’s valuation has increased more than 763% in just one year, easily outpacing traditional gains in the stock market. To better understand its true value in the marketplace, we must look to its latest movements. During that same time, there’s been a lot of debate about Bitcoin and other cryptocurrencies-Its proponents argue that it’s the future of currency and investing, while its detractors argue that it’s a risky investment option that may not generate big returns. Over the last several years, Bitcoin has become increasingly popular amongst today’s investors.
How to invest in Bitcoin in 5 steps | Is Bitcoin a good investment? | Different ways to invest in Bitcoin What is Bitcoin? | What do you need to invest in Bitcoin? |
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