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With the growing numbers of online businesses, since the evolution of advanced technology and internet connection, payment methods have become an issue. These people are finding ways to make an easy and fast transaction. Today, the live bitcoin price costs thousands of dollars with a 24 hours trading volume of million dollars. In the last 24 hours, bitcoin values over 0.44%. Bitcoin news cleared up in the current CoinMarketCap ranking, it is ranked as number 1 in the live market cap of billion dollars. The circulating supply of million BTC coins has a maximum supply of million dollars Bitcoins. If you want to know where Bitcoin can be bought, there are several top exchanges for bitcoin trading.
What is BTC?
BTC is the popular abbreviation of Bitcoin. Bitcoin is a decentralized digital currency, described by Satoshi Nakamoto. The cryptocurrency was launched later after the description in the year 2008. BTC is a peer-to-peer online currency, all transactions happen in a direct way between equal. It doesn’t need an intermediary to facilitate or permit. BTC was created to allow online payments, direct to one party or another without a need through a financial institution. Bitcoin holds the distinction of a first-ever digital currency to come into actual use.
The uniqueness of BTC
One of the most unique facts about BTC is being the very first cryptocurrency that appeared on the market. BTC managed to make a global community, give birth to a whole new industry of people who invest in, trade, create, and use digital currency and some other cryptocurrencies daily. The appearance of the first cryptocurrency has made a technological and conceptual basis that subsequently inspired the improvement of thousands of competing projects in recent times. The entire digital currency market is now worth over $300 billion. It is based on the idea realized by BTC. It is digital money that can be sent and received by anyone and anywhere around the world with no reliance on trusted intermediaries: financial services companies and banks. Bitcoin remains the number 1 of this energetic market until today. Although BTC had faced many issues and disappeared undisputed dominance, still it remained the largest cryptocurrency. It has a market capitalization, which fluctuated between $100 to $200 billion in the year 2020. It owes in huge part to the ubiquitousness of platforms providing use-cases for Bitcoin:
- Wallets
- Payment services
- Exchanges
- Online games and many more
When buying BTC
- Buy on an exchange
A lot of marketplaces called bitcoin exchanges are allowing people to buy or sell BTC using different currencies. Coinbase is one of the most trusted exchanges, yet others are trusted as well.
- Transfers
People or users can send bitcoins using mobile apps or computers. It is the same as sending cash virtually.
- Mining
People are competing to mine bitcoins utilizing computers for solving complex math puzzles, it is how BTCs are created.
The BTC wallet served as a digital or virtual wallet that exists either on a user’s computer or in the cloud. The digital wallet is a kind of virtual bank account, allowing users to perform the following:
- send and receive bitcoins
- Pay goods or services
- Save money
