What is Bitcoin?

Last updated 10 June 2020
What is Bitcoin?

A virtual currency which is the most famous digital currency and is the first decentralized peer-to-peer payment network that is completely managed by its users without any central authority or intermediaries, as it provides a new system of payment and electronic money in full and is circulated through the Internet only and recently, many of the forced Countries are to officially recognize and deal in this currency in their interests and markets and companies and they have become something recognized and the financial instrument is increasingly popular, although not everyone understands the fundamentals behind the electronic currency.

The abbreviation for Bitcoin is simply BTC the same principle applies as with (US dollar) and (euro) Bitcoin can also be linked to other currencies and in this case, the name of the CFD can be, for example, Bitcoin against the US dollar (Or BTC / USD).

Satoshi Nakamoto is the one who called himself the symbolism, the idea of ​​Bitcoin for the first time in a research paper in 2008, and the Bitcoin administrators say that the goal of this currency that was put into circulation for the first time in 2009 is to change the global economy in the same way that the web changed publishing methods, and in In 2016 Australian businessman Craig Wright announced that he is Satoshi Nakamoto providing a technical guide but the falsity of his evidence was easily revealed.

  How to Create a Bitcoin Digital Wallet

The price of Bitcoin is considered unstable, as the price of one Bitcoin when it first appeared was 6 US cents, and during that period until late 2017 the virtual currency gained fame and great material value, as it reached on December 8, 2017, to $16 thousand after it rose About 60% in about a week and the previous three years, despite intense sales being recorded sometimes, Bitcoin defended the $3,000 support level aggressively on multiple occasions.

Bitcoin against the dollar today is 3403 However, traders generally see a weakening in the short-term direction of Bitcoin, the dominant currency is likely to complete this decline and as of February 2015, more than 100,000 Bitcoin merchants and sellers have been certified as a payment currency and the estimates of research produced by Cambridge University indicate that In 2017, between 2.9 and 5.8 million users are using a wallet of digital currency, most of them using Bitcoin.

  Steps to Open a Bitcoin Currency Account

Germany is the first country in the world to recognize the currency and allow dealing through it, followed by the United States of America that it recognizes until now, while the future of this currency is currently being discussed in the global financial circles and the big offices in London, and they look at them with caution and caution and attention.

Also read: The 6 Most Important Cryptocurrency Platforms

Also read: Steps to Open a Bitcoin Account

اقراء المقالة باللغة اخرى : العربية

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