An in-depth guide to investing in Bitcoin.
Diversifying your portfolio with new types of investments has numerous benefits, like protecting your savings and generating higher returns. Above all, it minimizes industry-specific risks and losses caused by market volatility.
One of the most trending investments in the last decade has been Bitcoin, the “digital gold” of the twenty-first century. In this guide, you’ll find out everything you need to know about investing in Bitcoin.
Bitcoin: The World’s First Cryptocurrency
Bitcoin is the first cryptographic digital asset that’s built and exchanged on a decentralized peer to peer network using distributed ledger technology known as the blockchain.
In 2008, Satoshi Nakamoto, a cryptographer whose real identity remains a mystery, published a whitepaper titled Bitcoin: A Peer-to-Peer Electronic Cash System where he described the mechanisms of the first completely decentralized digital payment system and its native currency Bitcoin.
In the nadir of the global financial crisis and the US stock market crash, crypto enthusiasts saw Bitcoin as a much-needed alternative to the fiat currencies issued and controlled by the government and as the future of our outdated financial system.
To create scarcity and prevent inflation in the future, Nakamoto hard capped the total Bitcoin supply to 21 million BTC. Today, over 85% or more than 18,470,000 BTC have been mined, but experts predict that the remaining bitcoins won’t be mined before the year 2140 because the mining difficulty keeps increasing. Afterward, there would be no new bitcoins.