What Is A Bitcoin?
Connor BrookeLast updated: April 6, 2022
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With the recent news of a Bitcoin crash, many people are wondering what exactly a Bitcoin is and if it’s actually a real type of currency.
First of all, Bitcoin is a real currency with which you can buy, sell and purchase goods and services. Some of the benefits of Bitcoin are that transactions are instant, can be accepted anywhere around the world, and generally have no processing fees.
Bitcoin is known as an open-source online commodity. In its exchange, it uses peer-to-peer encryption over the internet and has no central governing authority. The servers that create the currency are called bitcoin miners or bitminers.
As many speculated and feared, a Bitcoin collapse was very possible. As they say, greed turns to fear, and with the bubble of the bitcoin driving this greed, it didn’t take much for the pendulum to drastically shift in the other direction.
At its peak bitcoin was valued at around $260, but drastically and dramatically lost half its value. Here is a view of the recent crash by Real-Time Bitcoin Data Services.
Here is a video explaining more about Bitcoin, its rise, and its crash.
Click here to learn more about Bitcoin and how to buy it
Go here to find the best crypto exchanges
This article was written for Business 2 Community by Connor Brooke.
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Author: Connor Brooke
Connor is a Scottish financial expert, specialising in wealth management and equity investing. Based in Glasgow, Connor writes full-time for a wide selection of financial websites, whilst also providing startup consulting to small businesses. Holding a Bachelor’s degree in Finance, and a Master’s degree in Investment Fund Management, Connor has…
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