Banks may hate it, but crypto is here to stay. How did this even happen, but even more importantly, how can you get in on the action??
If you’re on this site, you probably know that a cryptocurrency is a digital currency that is created and managed through the use of advanced encryption techniques known as cryptography. For a long time, such a thing was just speculation, but it became reality with the creation of Bitcoin in 2009. It attracted an initial following in the years that followed, but it really started getting the attention of investors when it peaked at a record $266 per Bitcoin after surging 10-fold in the preceding 2 months. At its peak, total Bitcoin had a market value of over $2 billion; however, shortly afterwards, that number was cut in half. This sparked a debate that still rages on today; what is the future of Bitcoin? Will BTC soon be as ubiquitous as USD and EUR, or is it just another fad?
We think the answer is clear.
The fact that it’s a decentralized currency that uses peer-to-peer technology is a major plus, as it allows all functions such as currency issuance, transaction processing and verification to be carried out collectively by the network. This decentralization gives Bitcoin and people who use it the power to pursue monetary transactions free from government manipulation.
Bitcoins are created digitally through a Bitcoin mining process that needs powerful computers to solve complex algorithms. Currently, they’re created at the rate of 25 Bitcoins every 10 minutes and this will be capped at 21 million, a level that’s expected to be reached in 2140. This is what makes Bitcoin so different from a fiat currency, which is backed by government entities to give it value. Very supervised and regulated by a nation’s bank, fiat currency is pretty much the opposite of Bitcoin. Because of this, many people see Bitcoin, and other cryptocurrencies, as the future of currency in the world.
Not a computer genius with a ton of computer processing power to spare? There’s an easier way to get in on the Bitcoin game. With BXB Exchange, you can get a piece of the action by simply downloading an app. BXB Exchange is basically high frequency trading for dummies; you get on, buy some currency, and start a fast-paced, low stakes trading game that can actually be the most lucrative thing you do all year. Once you get a taste of how easy it is to increase your assets using their tap trading system, you’ll be hooked on how fun high frequency trading can actually be. Enjoy winning!