Overview

Bitcoin: Past, Present and FutureThere has been a lot of interest in Bitcoin since 2013 when it first made the headlines. However, most people do not understand exactly what it is and how they can benefit from it. Bitcoin is the world's first and most successful cryptocurrency. A cryptocurrency is a digital currency that uses cryptography technology to secure the system and all transactions. Bitcoin uses a decentralized ledger system and functions without any central authority. It does not fall under the jurisdiction of any public body such as a government regulator or central bank. It is primarily an online digital payment system that was released in 2009. By 2013, it had attracted the attention of people all over the world. According to research by Cambridge University, there are between 3 and 6 million Bitcoin users around the world. The major attraction of Bitcoin is its rapid price gain. The price has increased phenomenally in the last four years. In 2011 alone, the value of 1 bitcoin rose from $0.11 to $32. By 2013, the price has risen to $266 before falling to $50. However, towards the end of 2013, the price was $1,242 which later settled at $600. In 2017 the value rose from $1000 and is currently at $5900 as of October the same year. This is an indicator of how lucrative Bitcoin is and why many investors are showing increased interest in it. Before investing in Bitcoin, it is essential that investors acquire all the information they can so they understand what they are getting into. Understanding how it works and how to invest and benefit from its rising value is vital. By getting this book, users will gain a better understanding and more insight about this popular global cryptocurrency. There are some risks associated with Bitcoin so understanding these risks and how to mitigate against them before investing is crucial.

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9781979563482

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