Bitcoin is the first and most popular digital currency - a cryptocurrency. It powers a peer-to-peer network for the exchange of value through the use of a decentralized protocol. The idea behind Bitcoin is to have a system where there is no middleman or central authority.
Bitcoin refers to both the software protocol as well as to the digital asset, which goes by the ticker symbol BTC. At its most basic level, Bitcoin is useful for transacting value outside the traditional financial system. You can buy and sell BTC for other cryptos alongside more traditional currencies at crypto exchanges like Binance, Kraken and Bitstamp.
Satoshi Nakamoto, a mysterious person (or group of people), launched Bitcoin in 2009. What sets it apart is that it's completely decentralized, meaning no single entity controls it. Instead, a network of computers, known as miners, maintains and validates transactions.
Bitcoin mining creates new bitcoins in the form of block rewards. The process verifies transactions on the blockchain. Miners earn Bitcoin as a reward for completing "blocks" of verified transactions and adding them to the blockchain.
It has a maximum total supply of 21 million, which means that there can only be 21 million in circulation. However, the number of issued Bitcoins will likely never reach 21 million. That is because of the use of rounding operators in the codebase.
You can break a single Bitcoin down into 100 million tiny pieces called "satoshis." You can store them in a digital wallet.
You can send parts of a Bitcoin to pay for things. You can also trade it for other crypto assets. But when you dig into the technicalities, it's like peeling an onion—layer after layer of complexity.
All Bitcoin transactions happen on a blockchain. Think of it as a public digital ledger that everyone can see but no one can tamper with. Miners are the ones who validate and secure these transactions. They validate transactions by solving complex math problems and receive new bitcoins as a reward for their efforts.
Key Points to Remember
The fastest, most convenient way to purchase Bitcoin is to purchase it on ICONOMI. We check Bitcoin live prices on 10+ crypto exchanges and buy it at the best market price.
You can buy Bitcoin by adding it to your private Crypto Strategy (crypto portfolio). You can also use our recurring buy feature that tends to level out cryptocurrency price volatility effects. You can find out more about how to benefit from smaller investments at regular intervals on our blog article.
We recommend you do your own research and cryptocurrency analysis. Experienced crypto traders use fundamental and technical analysis to evaluate if Bitcoin is a good buy/sell. Fundamental and technical analyses are the two most common types of analysis used in trading traditional assets (e.g. stocks and bonds).
If you are unfamiliar with analyzing cryptocurrency prices and want to buy Bitcoin, we recommend you read the next section, as copying might be a better approach.
If you are not skilled at these, consider a different approach to investing in cryptocurrencies. You can learn from and copy seasoned crypto traders on ICONOMI who regularly share their insights and manage their public Crypto Strategies. Go to the strategies page and use the “ticker” filter to find out which public Crypto Strategies have Bitcoin in their structure.
Here you can read and comment on all posts made by Strategists about Bitcoin BTC. See all Bitcoin price predictions in real time and make the best use of their crypto knowledge.
Amazing bullday for the alts. We lowered our $BTC allocation to 10% in order to profit from this alt-weekend. We took a 5% position in $MINA as we expect it to pop in the next few hours. We will sell it, when it does. It could spike 40-50% in the blink of an eye.
We took some profits in our $SOL position as well. It is reaching possible resistance at 80usd.
We added slightly to our $LDO as we expect it to pop when $ETH continues to grind higher.
$BTC make a consolidation, #dominance is dropping, #alts pumping! This is the preliminary phase of #altcoinseason!
My strategy here: https://www.iconomi.com/asset/CRYPTOALLIEN
Layer 1 ALTS have started to move! What a week, first $ETH outperformed $BTC, and now we see fantastic gains from our largest holding $ATOM and other holdings including $DOT and $NEAR.
Rebalanced, doing our second 'profit taking action'. Adding 0.5% to: $BTC $PAXG and $USDC. As stated on our blog, taking profits as we move up. https://carus-ar.com/blog/carus-ar-profit-taking-strategy-in-case-of-crypto-bull-market.html
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Morning update:
Bitcoin continues to look strong as it reclaimed the $44k range. It is trading at a high Coinbase Premium, above the trackline, and continues to print green dots🟢 Beautiful setup👌$BTC
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Meanwhile, Fidelity joins the 2nd Amendment Club.. adding a bunch of changes to their S-1✅ This is your daily reminder that ETF is just around the corner😉 $BTC
