There are more than 1500 cryptocurrencies and digital currencies, many of which are expected to be known in the coming period, and the beginning is of course the largest cryptocurrency in the world and we are talking about Bitcoin.
There is a high possibility that you have heard of it before, this is if you are a new follower of the field, you may hear it a lot and you may monitor its price daily and monitor it and wonder about what it is and how to profit from it.
Before talking about its circulation, mining, or profit from selling it, you should be aware of all the details of this cryptocurrency. Ignorance of these matters makes you less aware of what is going on in this field and turns you into a blind man walking on a path he has never walked before.
bitcoin loophole will reimburse Bitcoin mining customers after the price is reduced.
What is Bitcoin?
A cryptocurrency that does not have a physical presence on the ground, unlike the dollar and the cash we use daily, which can be carried in our pockets and wallets.
Bitcoin is a currency in the Internet and is kept in electronic wallets which are applications and websites and there are some electronic tools that provide them with preservation and use when they are needed.
This is a decentralized digital currency, as it is not subject to control, by the central banks, financial institutions or a specific organization, and it belongs to everyone and its dealers.
The units of this currency are not issued by central banks or electronic banks, there are minerals that search for and sell them to be available in trading platforms and the number of course is limited.
The most popular symbol for this currency is BTC, while there are other symbols for it including ฿ and XBT, the latter being the least well known among its symbols.
The largest and most famous digital currency in the world
This cryptocurrency comes to the fore due to its great popularity and is the first currency that was invented in this field before it appeared many competing currencies that relied on blockchain technology, and it has similar fundamentals to Bitcoin.
The forefront of this currency is that it leads the market value compared to its competitors, and we find that at the present time its market value has reached $ 150 billion and constitutes 38.4% to 40% of the cryptocurrency market.
At the height of its rise at the end of last year, it reached a price tag of 20,000 dollars and a market value of 300 billion dollars. It is said that it will return to these levels, but is expected to reach a price of one million dollars!
What are Bitcoin goals?
Satoshi Nakamoto published in 2008 at the height of the global financial crisis a document in which he said that his currency comes to change the global economic and financial system by providing a currency that is easy to pay and the transfer of money across borders, and that it establishes an electronic payment system based on the principle of peer-to-peer from During the removal of the broker and make transactions take place directly.
The main objectives of the currency are as much as they are facilitating the payment, transfer and exchange of money. They come to remove the central bank, print money and financial authorities, and even delete banks and financial institutions.
First, it is a cryptocurrency so highly coded that it cannot be hacked, tampered with, or altered transactions made by it. Second, it provides sending and receiving money from any country to another without recognizing the geography, because when you send money to a person who is in Australia, for example, the process will not require you to enter the geographical location of the addressee.
In addition to the above, the identity of the customers is anonymous, as you do not need to enter the name, address and information of the person to whom the money will be sent, as is the case in banks and services for sending financial payments such as Western Union.