Bitcoin, an electronic payment system based on mathematical proof is a means of exchange, independent of any central authority, that could be transferred electronically in a secure, verifiable and immutable way. The system enables payments to be sent between users without passing through a central authority, such as a bank or payment gateway. It is created and held electronically.
Bitcoins are not printed, like dollars or euros – they’re produced by computers all around the world, using free software. Bitcoin can be used to pay for things electronically, if both parties are willing. In that sense, it’s like conventional dollars, euros, or yen, which are also traded digitally.
Bitcoin had seen its great height in, which raised massive interest in it and other types of cryptocurrency. However, bitcoin is extremely volatile, and several financial experts have advised people not to get involved, calling it a bubble that could burst at any moment. There are now fears that it already has.
Recent events have demonstrated just how quickly the situation can change for investors.
- After hitting a record high to the tune of $19,850 in mid-December, bitcoin’s value crushed to $12,000 within days.
- It then surged again, before falling in mid-January amid reports that trading was about to be banned in several countries around the world.
- In February this year, it then stabilised, before a further drop.
- Its unpredictable price fluctuation is the expectation now, which will be regularly updated with the latest news and significant changes.
In a click there are several trading platforms like “etoro” are available. However, the returns are not guaranteed, possibly one could end up in getting less than what he invested??