Starting at a few cents when it first popped onto the market it now skyrocketed to tens of thousands, making its value unstable.Ĭontroversial as it is, in 2013 Bitcoin ended up in the news, as banks in Cyprus ended up seeing many residents of the island country pulling their money from the banks and investing in the currency.
What’s even more, prices for this currency have been fluctuating wildly. Worth noting is that Bitcoin has continuously been the target of hackers, seeking out ways to gain access to people’s private wallets and coins. Thanks to its peer-to-peer use, anonymity, and the fact that the currency is decentralized, meaning that it can't simply be taken away from you by a government entity, BTC’s popularity surged to the highest heights.
This currency is created through a process known as mining, where computers use their computing resources to try to form this currency. It is unclear whether that’s a real person’s name, an alias, or it could even represent a group of people.
This digital asset was created in 2008 by Satoshi Nakamoto, whose identity remains unknown. Bitcoin is a completely cyber form of currency using a series of characters to build up a unique identifier to make the cryptocurrency unique.
