Bitcoin is the biggest and most expensive cryptocurrency you can invest in. It’s known for its super volatile nature; your investment can be either doubled or zero in no time. But before investing in Bitcoin, you should learn how it works in order to understand its fluctuations.
What is Bitcoin?
Bitcoin isn’t like the currency in your purse; it’s a digital form of currency that has no physical value. Moreover, it is not controlled or regulated by any central body like government bank. You can’t say anything for sure about cryptocurrency due to its high volatility nature.
Bitcoin like other cryptocurrencies employs encryption to control and secure transactions and the production of new units. What makes it super awesome is that no one can know about the identity of sender and receiver.
It was introduced by an unknown person Satoshi Nakamoto in 2009. The idea was to create a digital currency not controlled by any central government bank. Bitcoin has spawned a host of other new cryptocurrencies.
Due to its anonymus nature, cryptocurreny is wildly used for a number of nefarious, illegal activities such as tax ecasion and money laundering.
What is Cryptocurrency Wallet?
A cryptocurrency wallet is required to send/receive cryptocurrency. Your crypto adventure can’t be successful unless you choose the right cryptocurrency exchange or wallet. They are available in abundance online. So, one can easily be confused with different service providers claiming to be genuine and secure.
How you look at Bitcoin? Want to share your own thoughts with us? Please feel free and don’t hesitate to let us know your valuable feedback in the comment box below. We greatly appreciate your feedback.