Easily: What is Bitcoin?
The 2008 worldwide economic crisis exposed the inadequacies of the contemporary financial system, which has a tendency to create economic bubbles, leading to significant inflation and requires a lender to sustain its functionality during times of crisis.
In the wake of the 2008 global financial crisis, Bitcoin emerged as a much-needed wake-up call for the world. It aimed to establish a worldwide, decentralized, and peer-to-peer financial system that operates without the need for intermediaries. Bitcoin was a revolution in the making.
What is Bitcoin?
Bitcoin, the world's first decentralized cryptocurrency, was created in 2009 by an unknown person using the pseudonym Satoshi Nakamoto. Since then, it has become one of the most well-known and widely used cryptocurrencies in the world, with a market capitalization of over $500 billion.
Here are some interesting facts about BTC:
You can use Bitcoin for various purposes such as purchasing goods and services, trading it as a speculative investment, or sending it as a form of payment to others.
One of the unique features of Bitcoin is its blockchain technology. Blockchain is a digital ledger of transactions that is decentralized and transparent, meaning that every transaction is recorded on a public ledger that can be viewed by anyone. This makes Bitcoin transactions more secure, as the ledger cannot be altered without the consensus of the network.
As billionaire investor Mark Cuban once said:
"Bitcoin is exactly like gold, but with one big difference: Gold is a physical asset, and bitcoin is a digital asset."
Benefits of Bitcoin?
Bitcoin is decentralized, meaning it is not controlled by any central authority or government. It's also highly secure as every transaction is recorded on a public blockchain, making it almost impossible to hack or manipulate.
- Low Transaction Fees
Bitcoin transactions typically have lower fees compared to traditional bank transactions or credit card fees.
Bitcoin transactions are mostly anonymous, making it an attractive option for individuals who value their privacy.
- Investment Potential
Bitcoin's value has shown significant growth over the years, making it an attractive investment option for traders and investors.
Example: In April 2020, the price of one bitcoin averaged up to $9,000, and in April 2023, it fluctuated around $28,000.
How to buy Bitcoin (BTC) Easily?
The easiest way to purchase Crypto is Cryptal. Before buying any Cryptocurrencies on Cryptal, you would need to go through a simple Registration process. If you don’t know how to do that, our Blog will help you:
Using Instant Trade you buy desired crypto in seconds and it will be deposited to your wallet. While using Spot Trade, you place an order, that you would like to purchase certain amounts of BTC and then, you will be matched with the trader, who would like to sell the asset.
If you would like to know the process in detail, read our Blog.
How can I have passive income from Bitcoin (BTC)?
To put it simply, you can start a Crypto Staking on Cryptal, just like a good old Bank Deposit, but with additional interest and more flexibility.
Crypto Staking is one of Cryptal's services, through which you store your crypto assets in a digital wallet for a certain period of time that you define and thus help the blockchain network to work and at the same time - earn additional benefits.
What are the Benefits of Starting Crypto Stakings with Bitcoin?
- High-interest rate
- Daily accrual of Benefits
- Withdrawal of Crypto at any time
If you are interested in starting a Crypto Staking on Cryptal, read our detailed blog:
Bitcoin is a fascinating digital currency with a lot of potential for the future. Whether you're interested in investing, trading, or just curious about its technology, there's no denying the impact that Bitcoin has had on the world of finance and beyond. And if you want to buy, sell, or store Bitcoin, Cryptal, a trusted cryptocurrency exchange, provides Crypto Staking options where you can deposit your Bitcoin and earn interest on your holdings.