Remembered the time when people used to exchange their goods between them to get whatever they desired. Everyone has read this in school. Popularly known as Barter System. This system was used way before the money wasn’t invented. The barter system almost ended with the introduction of money. As buying good become way easier in the Money system.
With the innovation in buying & selling things. Cash has become one of the most popular things. Every transaction was done with cash. The popular era of cash was way more difficult to replace. Still, after money was introduced, one of the electronic currencies was introduced in 2011, called Bitcoin. Bitcoin price is attracting buyers to enter into a new era of marketing.
What is bitcoin?
Bitcoin in the language of Google is
“A type of digital currency in which a record of transactions is maintained, and new units of currency are generated by the computational solution of mathematical problems and operates independently of a central bank. “
Bitcoin is like a cryptocurrency that can be carried anywhere or can be used anywhere in easy language. You don’t need to carry a wallet; all you need is a phoned to do the transactions.
Bitcoin was created in 2009 by the unknown people popularly known as Satoshi Nakamoto.
Several advantages of Bitcoin like:-
- high payment freedom,
- transparency of information,
- high security,
- reduced risks for traders
- Bitcoin allows payments without disclosing any sensitive financial information (like credit or debit card details) to the seller.
Bitcoin is popular for its technology named ‘blockchain’ – a secure, time-efficient, and decentralized record-keeping ledger system. The Blockchain is for the public as it allows users of the freedom of complete transparency.
Bitcoin price depends on various factors like:-
- Supply & demand for Bitcoins in the market.
- Competition from other methods of payments like cash or tokens etc.
- Bitcoin legal matters & availability of currency exchange is also one of the main factors.
Bitcoin & its prices are one of the oldest yet the most used. Its investment returns make it even more popular. It can be determined by keeping in mind these factors. It is very easy to trade bitcoin as it comes with very low fees. It is a great investment as it has a very high demand in the market and is very popular in many countries.