What You Need to Know About Bitcoin
Bitcoin (BTC) is the worlds biggest peer-to-peer, software based online payment system, which was created by Satoshi Nakamoto in 2008.
The virtual currency is decentralized and is not administered by any government, which is a reason why it is so enticing to some people. Though there are hundreds of other cryptocurrencies, Bitcoin is by far the most accepted and widespread.
Bitcoins are created through a process called mining, which is done through the Block Chain that contains records of all transactions completed. They can also be purchased with fiat money or exchanged with other cryptocurrencies. The coins are then stored in a Bitcoin wallet program which runs on personal computers or mobile phones.
Recently, Bitcoins have started to gain worldwide recognition and is now accepted at many online and land-based merchants.
But even with all the recent popularity, it is still a very controversial subject with many nay-sayers and doubters. Some countries even consider Bitcoin illegal, while other governments are more accepting.
BTC as a currency presents a great opportunity for currency and options traders to profit from the price moves. Today Bitcoin has become one of the most popular assets traded on world leading binary options brokers’ platforms. We’ve added this Bitcoin section to help learn about trading with BTC on binary or forex platforms.
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