Bitcoin is a decentralized digital currency created in 2009, using blockchain technology for secure transactions. With total supply of 21 million coins only, it works without central control and is used for investment, remittances, and transactions. Things you need to know about bitcoin.
How does bitcoin work:
Bitcoin works as a digital currency that allows people to send and receive money online without needing a bank through blockchain. which is like a public, digital ledger that records every Bitcoin transaction. When someone sends Bitcoin, the transaction is verified by a network of computers (called nodes), making sure everything is valid. Once confirmed, the transaction is added to the blockchain, and the Bitcoin is transferred. This process is secure, transparent, and decentralized, meaning no central controls it. People can buy, sell, or store Bitcoin in wallets and exchanges like Binance.
You can create binance account using this reffral code to get trading discounts: https://www.binance.info/activity/referral-entry/CPA?ref=CPA_00MAEA4LIG
Bitcoin Halving:
Bitcoin halving is a process where in every four years, the amount of bitcoin created gets cut in half. Reducing the reward miners receive for verifying transactions by half. This process is built into Bitcoin’s code to control inflation and ensure a limited supply, as only 21 million Bitcoins will ever exist. Halving slows the rate at which new Bitcoins are created, making them more rare over time. It leads to increased interest in Bitcoin and can affect its price because of the reduced supply of new coins.
Bitcoin ETF:
ETF means exchange traded fund. Bitcoin ETF means that anyone can trade bitcoin on traditional market exchanges rather than cryptocurrency exchanges like Binance or any other exchange.
Benefits of Bitcoin ETF:
A Bitcoin ETF lets people invest in Bitcoin without directly owning it. It’s easier to buy through regular brokerage accounts and offers more security and regulation as we all know that carrying capital is not safe on exchanges, it can collapse any time like FTX exchange did, so its not safe to keep capital on exchanges.
Furthermore, it also helps diversify portfolios and could attract more institutional investors, boosting Bitcoin’s mainstream use.
Bitcoin Price to usd:
As of 10 Feb the current price of Bitcoin is 95,836$ per Bitcoin.
Why to invest in Bitcoin:
Owning Bitcoin offers benefits like financial independence, protection against inflation, and fast, low-cost transactions. It also provides security through blockchain technology and the potential for high returns due to its price changes. It might drop and be volatile in short period of time but in long term it’s the best asset that anyone can own because it has the fix supply of 21 Million bitcoins no more no less, even gold has not a fix supply it can be minded, Bitcoin has a total supply of 21m so it will definitely grow day by day.
You might like to read:
https://everyangleblog.com/top-5-ways-to-earn-money-with-cryptocurrency/