{"id":3712,"date":"2022-03-11T10:15:36","date_gmt":"2022-03-11T10:15:36","guid":{"rendered":"https:\/\/www.techtodayinfo.com\/?p=3712"},"modified":"2022-08-15T08:19:20","modified_gmt":"2022-08-15T08:19:20","slug":"things-you-must-know-about-the-top-cryptocurrency-bitcoin","status":"publish","type":"post","link":"https:\/\/www.techtodayinfo.com\/things-you-must-know-about-the-top-cryptocurrency-bitcoin\/","title":{"rendered":"Things You Must Know About the Top Cryptocurrency \u2013 Bitcoin"},"content":{"rendered":"\n<p>With the cryptocurrency frenzy at an all-time high, beginners have many questions in their minds before starting their crypto trading journey. From <a href=\"https:\/\/coinswitch.co\/switch\/what-is-liquidity\/\" target=\"_blank\" rel=\"noreferrer noopener\">what is liquidity<\/a> to which are the best exchanges available, there\u2019s a lot they have to know. If you\u2019re an ardent crypto enthusiast who wants to begin trading cryptocurrency, you should start by learning more about the top cryptocurrency leading the space, i.e., bitcoin. To make your work easier, we\u2019ve listed down five things you should know about this top, popular cryptocurrency.\u00a0\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" loading=\"lazy\" width=\"640\" height=\"360\" src=\"https:\/\/www.techtodayinfo.com\/wp-content\/uploads\/2022\/03\/images-1-5.jpeg\" alt=\"Cryptocurrency \" class=\"wp-image-3714\" srcset=\"https:\/\/www.techtodayinfo.com\/wp-content\/uploads\/2022\/03\/images-1-5.jpeg 640w, https:\/\/www.techtodayinfo.com\/wp-content\/uploads\/2022\/03\/images-1-5-300x169.jpeg 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">1. Bitcoin has a Finite Amount<\/h3>\n\n\n\n<p>There are 21 total million bitcoins that can ever be produced and, due to this finite quantity, if demand for bitcoins increases and the price goes up, so will the demand.\u00a0It&#8217;s not clear if all 21 million bitcoins have been extracted until now, but once they&#8217;re mined, they&#8217;re done.\u00a0Each bitcoin could be divided into eight decimal points and even potentially smaller units if the need arises in the future. Furthermore, bitcoin transactions can be performed in smaller units referred to as &#8220;bits,&#8221; and there are 1 million bits in a single bitcoin.\u00a0At present, the value of all bitcoins is greater than $20 billion.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2. Bitcoin is a form of a Currency<\/h3>\n\n\n\n<p>Ever wondered <a href=\"https:\/\/coinswitch.co\/switch\/what-is-bitcoin\/\" target=\"_blank\" rel=\"noreferrer noopener\">what is Bitcoin?<\/a> Well, it is an electronic currency that utilizes encryption techniques to manage its creation and ensure secure transactions without the central bank.\u00a0The encryption methods make it extremely difficult to create counterfeit forms of any kind.\u00a0You can consider bitcoin is pretty much like the cash for the entire internet. Users can buy bitcoins or fractions of bitcoins through online exchanges or from a broker and keep them in a digital wallet.\u00a0Many stores accept bitcoin, and billions of dollars\u2019 worth of bitcoins is traded daily across the globe.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3. Bitcoin has a Fair Share of Critics and Fans<\/h3>\n\n\n\n<p>Billionaire\u00a0Warren Buffett\u00a0has been a vocal opponent of bitcoin.\u00a0He blasted bitcoin in the course of a 2014 CNBC interview in which he advised users to &#8220;stay away from it.&#8221; He even told viewers that Bitcoin is a mirage. Jamie Dimon, CEO of JPMorgan Chase, is also a bitcoin critic and previously described bitcoin as &#8220;a fraud.&#8221;<\/p>\n\n\n\n<p>Yet, despite the negative comments, there are still plenty of supporters.\u00a0A few notable investors include Tyler and Cameron Winklevoss and the billionaire venture capitalist Tim Draper.\u00a0In fact, Richard Branson has spoken positively about cryptocurrency.\u00a0He recently made a bet on the start-up of a bitcoin blockchain wallet which is basically software that can store and manage bitcoin cryptocurrency.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">4. Bitcoin Will be Trading on Three Major Exchanges<\/h3>\n\n\n\n<p>The U.S. CFTC announced it would permit bitcoin-related futures trade at three notable exchanges: the Chicago Mercantile Exchange Inc. (CME), CBOE Futures Exchange (CFE), and the Cantor Exchange (Cantor).\u00a0This means that investors will be able to place bets on bitcoin without actually purchasing it.<\/p>\n\n\n\n<p>According to J.Christopher Giancarlo, the chairman of CFTC, bitcoin, as a virtual currency, is a commodity unlike any the exchange or commission has dealt with in the past. He even cautioned the investors that they should be aware of the high level of volatility and risk associated with trading bitcoin in any of the approved mediums.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5. A Mysterious Creator<\/h3>\n\n\n\n<p>In 2009, a prototype was made public on a cryptography mailing list under the name of Satoshi Nakamoto.\u00a0 Bitcoin was described as a peer-to-peer electronic cash system in this document. The initial 50 bitcoins were mined on the 3rd of January, 2009, by Nakamoto, who is said to have quit the project in 2010.\u00a0The community grew, and later other developers joined the project.\u00a0However, since the start of bitcoin there has been a constant dispute about the identity of Nakamoto.\u00a0There is no way to determine whom or who Nakamoto is; however, some have attempted that eventually failed.<\/p>\n\n\n\n<p>Now that you\u2019re what Bitcoin is, you can consider starting your investment journey with this cryptocurrency.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With the cryptocurrency frenzy at an all-time high, beginners have many questions in their minds before starting their crypto trading<\/p>\n","protected":false},"author":1,"featured_media":3716,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[761],"tags":[1773,747,1590,1772,1774],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Things You Must Know About the Top Cryptocurrency \u2013 Bitcoin - Tech Today Info<\/title>\n<meta name=\"description\" content=\"Things You Must Know About the Top Cryptocurrency \u2013 Bitcoin. 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