Bitcoin is the first virtual currency of its kind,
launched back in 2009 by Satoshi Nakamoto. Satoshi’s goal was to remove the control of governments, central banks and banks on money, as is the case with the Fiat money of today.
For Satoshi, the financial crisis was the last straw and in creating a decentralized digital currency, central banks and governments have yet to catch up or get into position to regulate Bitcoin and other cryptocurrencies that have since been created.
Bitcoin has garnered plenty of attention, rising from sub-$1,000 levels at the end of last year to just shy of $10,000 today.
The number of merchants and service providers that accept Bitcoin continue to increase in numbers globally, with there being a number of ways in which interested parties can purchase Bitcoin.
While Bitcoin has grabbed the headlines, the most important characteristic of Bitcoin is the blockchain technology that drives it. Blockchain is a general ledger that is decentralized and stored on all of the computers that form the Bitcoin network. Other characteristics that have fueled demand for Bitcoin include Bitcoin holder anonymity, which has raised concerns over Bitcoin and other cryptocurrencies being used by the criminal underworld.
Bitcoin was the first, but there have been many cryptocurrencies created since and many are in search of the exponential gains that the lucky few earned if invested in Bitcoin in the early days.
By market cap, Bitcoin remains by far the largest and it will take some time before it loses the top spot, if ever.How to Buy Bitcoin in the UK?
There are a number of ways to buy and sell Bitcoin in the UK. The easiest and most simple one being via brokers which provide traders with the opportunity to take advantage of Bitcoin’s fluctuations. Plus500 is one of the brokers that allow trading cryptocurrencies.