November 24, 2020

How to invest in bitcoins: what you should know

2 min read
bitcoin price

Bitcoin is an independent and intangible virtual currency. What differentiates this cryptocurrency from a traditional currency such as dollars or euros is that it does not belong to any State. In other words, what are bitcoins? They are basically decentralized currencies, since there is no central bank, government or financial institution or company that acts on it. Click here for bitcoin price.

Year 2008

August 2008 marks the birth of Bitcoin with the registration of the domain bitcoin.org.Two months later, in October, the first document explaining the design of the virtual currency was published.

Year 2009

In January 2009 the bitcoin network was officially born with the publication of the first open source by a client. It is at that moment when the first block of Bitcoins is mined with 50 prize bitcoins and the first shipment of this coin. In October 2009, the first transaction was made in dollars with a price of 1,309.03 BTC (Bitcoin) for one dollar.Visit this site for bitcoin price.

Year 2010

The first changes of Bitcoins for dollars are already made in 2010 at a price of 1 BTC for $ 0.003. Also, in 2010, Mt Gox was created, one of the largest bitcoin brokers that would later be famous for leading the biggest scam with this virtual currency.

The first purchase in bitcoins takes place in May 2010. Specifically, 10,000 BTC was paid for two pizzas. We can say that it is the most expensive pizzas in history. At the current price, we are talking about $ 30 million for two pizzas.

Year 2011

In 2011 other cryptocurrencies begin to emerge and the growth of Bitcoin continues until 2013, when it receives a new push and its price reaches $ 3,000.

Year 2015

It is not until 2015 when bitcoin as a payment method begins to be legislated – remember that this is its main function. That year the EU exempts operations with this virtual currency from VAT, while advancing the technology that allows mining and getting bitcoins faster. In addition, it elevates it to the rank of payment method.

Year 2017

But the real Bitcoin boom does not come until 2017. It is at the beginning of the year when it exceeds $ 2,000 and even $ 3,000 per BTC. The reason according to experts is that the BTC would be no longer having value as a means of payment and would begin to have it as a financial asset, something similar to what happens when investing in gold.

Throughout 2017, the value of bitcoin reached over $ 20,000, marking a milestone.

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