Bitcoin is a mobile currency, also known as a crypto currency, that was created by Satoshi Nakamato in 2009. The group consists of either an individual or individuals who have yet to be identified. The mission of the creators was to provide a service for quick and cheap online payments without the use of banking connections. Bitcoin uses blockchain technology, which is a “digital, decentralized, and distributed ledger” able to be accessed by several parties at any time. For more information on blockchain technology and the basics of bitcoin, visit the site: 15 Facts You’ve Got to Read About Bitcoin.Bitcoin’s Statistics
The capitalization of the bitcoin in the market dramatically changes throughout the years, with a remarkable jump from almost five thousand dollars ($4,764 USD) in 2016 to two hundred and thirty-seven billion dollars ($237 billion USD) in 2017. It is the most expensive crypto currency, with a price of almost seven thousand dollars ($6,926). To see more important statistics such as the Bitcoin price index, navigate to the following link: Bitcoin Important Statistics.
There are over 2 million bitcoin wallets and counting, with $2 billion worth of transactions within a month’s span and almost 1 million transactions themselves. Since there are miners who work twenty-four hours a day, transactions are verified and settled far quicker than using bank verification. This quick service along with reduced fees and transaction costs make Bitcoin the perfect candidate for mobile currency. For more benefits and facts on Bitcoin, visit the Bitcoin Exchange Guide to sift through the list of benefits.
The market performance for the bitcoin has increased 1.9% just today, 21% within the last year, and a shocking 106% within the last five years. Bitcoin allows for bitcoin holders to buy almost anything that they wish, since there are few limitations on what they are able to purchase. Dish Network Corp even began accepting bitcoin in exchange for its cable packages since 2014. (16 Bitcoin Facts)
How Do You Buy It?
While you can’t buy it through Amazon or a local store, it is available through a bitcoin wallet, which is either web-based or device-based. If you have ever established a brokerage account then you are prepared for setting up an account with Coinbase, one of the most popular web-based wallets. Device wallets are said to be a better choice, though, since there are severe hacking problems when exchanging online bitcoins. However, there would be no bank or service to contact in case you forget your password. The bitcoins in your wallet would be completely gone since you could not access your account. Each wallet has its disadvantages, but the pros outweigh the cons and make the Bitcoin a valuable and more than worthy service for transactions. (The Motley Fool: What’s Next for Bitcoin?)
Although the owners of Bitcoin were never identified, they made an innovative service that provided a mobile currency through wallets that is still exponentially progressing. The market value rises and is showing no sign of declining any time soon, with a value in the billions. Device-based and web-based wallets are easy to access, making a mobile currency just as easily accessible. The value in the stock market makes the experience more than worthy of consideration, so you may want to get started while the price is still rising.