Crypto and Bitcoin have taken the world by storm and yet the founder of Bitcoin remains a mystery!
Satoshi Nakamoto, the inventor of bitcoin is a renowned figure in the world of cryptocurrency but his true identity is still unknown. A mystery yet to be unlocked.
Bitcoin, Cryptocurrency, Blockchain… So what does it all mean?
A cryptocurrency is similar to a digital form of cash. It can be used to pay for dinner, buy the shoes you’ve been eyeing, or book flights for your next big adventure. As crypto is all digital, it could also be sent to friends and family living anywhere around the globe!
Just like PayPal or bank transfers, right? No, this is much more interesting, keep reading guys!
Cryptocurrency is a decentralized digital asset that can circulate without the need for a central monetary authority such as a government or bank. Buy, sell and exchange directly- no middlemen required!
So how does cryptocurrency work?
It uses blockchain technology to record and secure transactions. Blockchain is a digital ledger that records all transactions taking place in a way that is difficult or impossible to change, hack or cheat the system.
Now that we’ve got an idea about cryptocurrency, what’s Bitcoin?
Bitcoin was the first cryptocurrency, announced in 2008 (and launched in 2009). It is known as the king of cryptocurrencies and nicknamed digital gold! There are thousands of cryptocurrencies present in the market today.
And what is so special about this magic internet money?
It’s:
- Permissionless – No one can stop you from using cryptocurrency
- Designed in a way that it’s virtually impossible for hackers or others to shut it down
- A cheap and fast payment method – money transfer within seconds at a fraction of the cost of an international wire transfer
Buying and trading with cryptocurrencies today is fairly simple with the wide range of crypto exchanges available today. Binance is the largest cryptocurrency exchange that offers lower trading fees and a great selection of cryptocurrencies globally!
In crypto terms, DYOR (Do your own research) at the Binance Academy – easily accessible to anyone and you can create an account with Binance to buy, trade, and hold over 350 cryptocurrencies!
Click here to get started!
