What is Bitcoin (BTC)?
Bitcoin as a blockchain and cryptocurrency, was born in 2009, and today accounts for just under half of the total cryptocurrency market capitalization. As the price began to skyrocket over the years, BTC passed over $1 trillion market capitalization for the first time ever on February 19, 2021. Bitcoin is the very first, and most popular cryptocurrency and recognized as the first Triple Entry accounting method created.
The Bitcoin network is decentralized, and becoming more widely-adopted by institutions through the Lightning Network. Bitcoin is traded as BTC on its own blockchain, and also pegged to other blockchain networks. BTC is available to buy and sell on Firstrade cryptocurrency trading platform.
Buy Bitcoin on Firstrade
Bitcoin is the first decentralized digital currency introduced to the public and officially recognized as a store of value. Its successful development and subsequent public deployment is accredited to lead developer Satoshi Nakamoto. Bitcoin is used as a digital payment method to purchase products and services worldwide. More than 100 countries have developed financial regulations around Bitcoin to date and it is recognized as legal tender or a convertible currency, tradeable on the open market. Firstrade customers can buy Bitcoin and also buy and sell cryptocurrency other than BTC on the online platform.
More about Bitcoin
As Bitcoin (BTC) is the first cryptocurrency and triple entry accounting method, it is accepted by more than 18,000 businesses globally. The Bitcoin blockchain is considered to be amongst the most secure in the cryptocurrency industry. It was worth $.08 cents in 2010 and rose to as high as $68,000 in 2021. Bitcoin is the second most traded digital currency next to Ethereum in terms of daily volume.
An average of more than a quarter million Bitcoin transactions are conducted daily. Millions of individuals across the world buy Bitcoin. There are more than 200 million registered Bitcoin wallets globally. Applications and other use cases are being developed around the first blockchain network and digital currency.
Lightning network payment protocol
The Lightning network is a layer-2 payment protocol layered on top of the Bitcoin blockchain network first. The Lightning name designation comes from the speed of the decentralized payment system. The Lightning network was built to be a fast payment solution built on top of the fundamental blockchain network.
Learn more about Bitcoin ($BTC) and other current cryptocurrency prices on Firstrade.