Bitcoin is the first digital crypto-currency ever invented.
But, today, that’s not the case, even with the increased popularity of crypto-currencies.
Bitcoin is a digital asset developed by Satoshi Nakamoto that also developed a peer-to-peer, decentralised blockchain technology that allows direct transactions between the users without interference from an intermediary like a financial institution.
What’s more, the price of Bitcoin is driven by the ratio of supply and demand, and events like Bitcoin halving , which cuts in half the reward of the miners, reduces the overall supply of BTC.
It’s also worth mentioning that data about each and every transaction is recorded, and there is complete transparency regarding the data of the payments.
Today it is more profitable for miners to join mining pools or farms. Otherwise, it can be very difficult to obtain BTC in case you’re mining on your own.
You can pick a site that is best for you and your budget, as there are many trading sites that offer special options to their members.
Besides, you can meet with Bitcoin owners and make a trade for Bitcoin, or use Bitcoin ATMs to trade your traditional currencies for BTC.
Furthermore, Bitcoin has an intrinsic value, while fiat currencies are issued by governments and have attributed value by the government.
Moreover, if you want to make a payment online, you need to use a debit card or credit card, and you authorise the financial institution to pull money from your account and make the online payment on your behalf.
And, of course, your personal data is associated with your credit card or bank account.
Actually, when it comes to the business sector, there are approximately 15 000 businesses around the world that support BTC.
Because Bitcoin is a medium of exchange on a decentralised system, its price isn’t directly affected by monetary policies, financial crises, or any political events that otherwise affect the value of fiat money.