What is Bitcoin?
Bitcoin is the world's first and the most successful cryptocurrency that works on the peer-to-peer blockchain network without intermediaries. The main feature of Bitcoin is a complete decentralization.
The Bitcoin network requires no regulatory or central bank. Thus, no one can control Bitcoin, block, or cancel a transaction. However, anyone can join the network. In addition, transactions in cryptocurrency are favorably distinguished by a low commission size.
Bitcoin is generated by users themselves as a reward for “mining”. Its price is formed under the influence of market forces (supply and demand).
Who Invented Bitcoin?
The concept of Bitcoin was first described in a technical document published in 2008 by Satoshi Nakamoto. To this day, no-one knows who Nakamoto really is.
Over the more than a decade of its existence, Bitcoin had dramatic ups and downs, both in terms of its dollar price and fame. For an idea that started as an anonymous document, it’s hard to imagine how Bitcoin reached its current market capitalization and won the greatest renown.
How Can Bitcoin Be Used?
Bitcoin shows a meteoric rise in the number of users worldwide. It can be used as currency or financial asset, for low-cost money transfers, asset-backed loans, and beyond.
Bitcoin’s top use case remains exchange trading, it’s not yet time the mass usage of crypto for everyday shopping. Although they're still not so many merchants who accept Bitcoin directly, it’s obvious that the adoption of Bitcoin as a payment method is increasing with each year. In 2019, you can find major brands like Wikipedia, Microsoft, and KFC that accept Bitcoin.
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You may use crypto, stablecoins or even fiat as a collateral asset. It will be held at our custodian and returned safely to you as soon as you repay your loan.
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