What is Bitcoin?

Cryptocurrencies, the most popular of which is Bitcoin, hit the financial market a few years ago, and many companies and individuals made a small fortune thanks to them. What are Bitcoins and Cryptocurrencies and how can you make money with them?

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Bitcoin - what is it and how does it work?

Wondering what Bitcoin is? It's a cryptocurrency that has allowed online users to send digital money since 2008. The creator of Bitcoin is Satoshi Nakamoto (pseudonym), and its premise was to transfer digital money from person to person (peer to peer) without intermediaries such as a bank, government or other external institutions.

How Bitcoin works?

Each Bitcoin transaction is recorded in the so-called blockchain - each block contains information about the date, time and amount of the transaction. This register is not maintained by any external institution or server - it is managed by a network of decentralized computers. Their large computing power is used to create new blocks (known as Bitcoin mining), and the owners of the computers that created them receive new Bitcoins on their account.

Advantages of Bitcoin

Bitcoin is digital money that cannot be manipulated in any way and whose value cannot be overstated. The investing user can buy only a fraction of Bitcoin and then continue to earn thanks to it on the cryptocurrency exchange. Many other cryptocurrencies have been created since bitcoin (BTC), but bitcoin has the greatest financial and market potential. Why is bitcoin worth using? First of all, it can perform the function of:

  • investment measure,
  • storehouse of value and money (like gold),
  • a way to transfer funds around the world.

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Continuation of Bitcoin's advantages

The lack of intermediaries - governments, financial institutions, banks - means that as an investor you have much more control over your funds, the transfer of which is much faster. Bitcoin is fully legal and you can use it to pay for services, travel or charitable donations.

What are the advantages of Bitcoin? First of all:

  • the ability to pay for online services without the need for currency conversion,
  • transaction speed,
  • security of funds,
  • protection against inflation (BTC resources will only increase to 21 million),
  • to ensure anonymity during the transaction.

How to start investing in Bitcoin

Do you want to invest in bitcoins? Get to know Bitclude - our Bitcoin platform that allows immediate data verification as well as quick funds withdrawal. We invite you to invest with our help!

Also read:

Which cryptocurrency exchange to choose?

Jaką giełdę kryptowalut wybrać?

Read and find out which cryptocurrency exchange is best to choose

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