These days, it is impossible to cross a path or two without talking about Bitcoin, cryptocurrencies, or blockchain. Since their inception, Bitcoin and blockchain have grown so massive, that they are now considered the powerhouse of the financial industry, especially the blockchain tech.
Bitcoin has been around for the last nine years. It is the oldest and most valuable digital currency at the moment. It has caught the public eye and has also changed the way we think about digital currencies.
Whether you are a trader, investor, merchant, or just an ordinary user, you should know that businesses are steadily adopting Bitcoin and the underlying blockchain technology.
What Is Bitcoin?
For beginners, it the world’s first digital currency that is not controlled or issued by any centralized authority such as central bank or government. It is maintained and generated by miners through the process known as Bitcoin mining.
Bitcoin transactions are carried out over a peer-to-peer network and registered on a public ledger powered by the blockchain technology. Simply said, blockchain network is a set of blocks of data that are linked together using cryptography.
What Can Bitcoin Be Used For?
Bitcoin is the most widely used cryptocurrency in the crypto market. Whether it is an online merchant or a brick and mortar store, there are many service providers who accept it along with the fiat currency.
For example, you can use Bitcoin at Microsoft, Dell, Newegg, Expedia, and at a lot more stores.
Want to know more about this ever-rising cryptocurrency and the blockchain technology? The infographic that follows will help you by providing you with all the information that you need to know to spend, investing in it, or use it to fund your business.
It discusses the following topics:
- Bitcoin’s history;
- Why should you choose Bitcoin;
- How to get some;
- Nations that have banned it;
- What can you buy for it;
- Lightning network;
- ICOs, DAO, and Segwit;
- Bitcoin’s market cap;
- Gambling websites that accept Bitcoin.