Bitcoin is a digital currency that exists wholly in the virtual realm, unlike physical currencies like dollars and euros. A growing number of components support its use as an alternative currency that can pay for goods and services much like conventional currencies. Bitcoin is first and easy to use making it the most popular cryptocurrency, or currency that uses cryptography to control its creation, administration and security.
Bitcoin was set up in 2009 by a mysterious individual or groups of individuals with the pseudo Satoshi Nakamoto, whose true identity is yet to be revealed and who left the project in 2010.
Its value rocketed to prominence in 2013, when Bitcoin soared more than 10-fold in a two-month period, from $22 in February to a record $266 in April. At its peak, based on more than 10 million bitcoins issued, the cryptocurrency boasted of a market value of over $2 billion.
A bitcoin is defined by a chain of digitally-signed transactions that began with its creation as a block reward through bitcoin mining. Each owner transfers bitcoins to the next by digitally signing them over to the next owner in a Bitcoin transaction. A payee can then verify each previous transaction to verify the chain of ownership.
Getting set up with us is easy.
- Create a bit-coin wallet.
- Choose which contract is right for you.
Pay & send us your Bitcoin address where we send your coins to.