Many people have heard about bitcoin crypto currency. But you might don’t know much about it. It is a virtual currency which allows you to exchange value for services and goods. Unlike traditional currencies without using central bank. But, we can access and use Bitcoin anywhere and anytime.
An un-identified person called as Satoshi Nakamoto created Bitcoin in 2009. Now bitcoin crypto currency value has sky rocketed since 2009. People began talking about this bitcoin online digital currency.
Bitcoins are limited and generated up-to 21 million only.
Bitcoin crypto currency does not need to have a central authority. Anyone can store bitcoins in their own electronic devices like computer, Phone, Tab and Hardware Wallets etc.
The Ledger is maintained by a network without any administrator. Anyone can be a miner by a network of equally privileged. New additions are maintained until a new block is added to the ledger. Without any approval anyone can create a new Bitcoin through mining and can do transactions with the confirmation of network.
In May 18 2010 19 year old person Laszlo Hanyecz offered 10,000 bitcoins for 2 Papa John’s pizzas through bitcointalk.org website. On that time 2 pizzas value is nearly $41. Then, 22 May 2010 Jeremy Sturdivant accepted that offer and purchased 2 pizzas and delivered to Laszlo Hanyecz place in USA, Florida.
Liquidity of bitcoin crypto currency
An important factor in determining a currency’s value is liquidity. It is the ability of an asset to convert into cash on demand. Liquidity is measured by the bid-ask spread, and the lowerspread. It is easier to enter and exit the market when you want to.
Legality of Bitcoin in Different Countries:
Bitcoins popularity has generated several debates about its legality in different countries. While many countries have started to pass laws regarding bitcoin crypto currency. But, some people and organizations using bitcoins for illegal activities and undermine economic stability. Because all of them know, bitcoin transactions are untraceable.
Many African countries banned Bitcoin. Because of illegal activities done through bitcoin crypto currency and most of their population uses banking systems. A few countries have embraced bitcoin crypto currency over the legality of widespread debate.
Sweden is a welcoming country for crypto currency for users and businesses. El Salvador is another country that has started Bitcoin as legal tender. Those both governments passed the legislation to recognize the cryptocurrency as a form of payment. In May 2022 India has also passed a bill in parliament about crypto currency as a legal tender.
Many other countries are welcoming bitcoin and other popular crypto currencies like BNB, Ethereum, Polygon and Avalanche etc. This is a step towards creating a stable and inclusive currency in the country. El Salvador’s government is accepted bitcoin crypto currency, but not implemented the regulations yet.
Is bitcoin crypto currency a speculative investment?
Bitcoin crypto currency is a 1st crypto currency and also trading as major exchanges like binance, coinbase exchange etc. Bitcoin crypto currency value has been rising and falling purely based on trading and about its future value. If the value increases in Bitcoin, dollar and euros may have more value. No one can predict the bitcoin price exactly.
Bitcoin crypto currency price will vary. It’s depends market, different countries decisions about bitcoin. This market is unpredictable because Bitcoin is a crypto currency. It is crucial to choose the investment carefully as per the results.
Experts said invest only, when you’re prepared to lose.
If you’re not ready to face risk, then you should stick with conventional investments. Record-keeping service is known as mining. It is done through the computer processing power. Miners are the head to the blockchain they keeps the blockchain complete and consistent by broadcasting new transactions into a block. Recipient nodes verify that block broadcast through the network.
