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Getting to Know More of Bitcoins

How many of you have ever heard of Bitcoin and still wonder about how much currency could be of such high value? It started in 2009, Bitcoin value was at 10 cents per coin, but nowadays, you can see that its price even worth more than US$ 5.000,- per coin. That is quite an unbelievable leap for a value. How could such brand new currency be able to have amazing value in a relatively short time? Let's find out below.

Bitcoin is the very first realistic definition of a cryptocurrency, which means that it is a virtual currency and doesn't have any physical form. But then this is the main point of its value: discretion of each transaction. It is almost impossible to trace the transactions in Bitcoin because they are made peer to peer without the presence of the third party. Moreover, all data has its encryption in cryptography. Long before the value skyrocketed, the coin’s value fluctuates in quite worrisome value. One time it could increase more than 100% its original value, but another time, it could lose more than 50% of its current value. At the end of 2017, the price reached more than $13.000 per coin, which was the highest in its history, but then since China banned all trades in bitcoin, and other cryptocurrency hacking cases, the price fell to around $6.000 in 2018.

Nowadays, there are also merchants who accept bitcoin as their payments. The system they are using for payments is called bitcoin payment gateway. With this application, online merchants could now accept bitcoins as payments. As the value has now increased so much, more people are putting their interest into this currency. Online merchants who previously couldn't accept bitcoin as a payment option now could expand their source of income to cryptocurrencies, this is why there is no guarantee that the value will stay the same in the future.

Now even ordinary people could get their Bitcoins. The process of collecting bitcoin is called mining, and there are lots of applications which could help miners get ahold of their bitcoins. These apps are bitcoins API, and you can find many of them available either for free or paid for advanced premium features. There are so many distinctive opinions about Bitcoin. However, it is still one of the popular investments in the modern society nowadays. The most worrying factor is that the value is so lucrative that it could be a great gain or loss in a matter of days. If you have the chance, you could try your luck in this cryptocurrency too.