How much is Bitcoin worth? How to buy Bitcoin?

Jan 04,2023
How much is Bitcoin worth? How to buy Bitcoin?

How much is Bitcoin worth? How to buy Bitcoin? Bitcoin is one of the most popular cryptocurrencies on the market. Bitcoin was first introduced by Nakamoto Cong in 2009. In terms of market value, Bitcoin has always occupied the first place in the cryptocurrency market. Bitcoin has paved the way for many existing cryptocurrencies in the market, marking a critical moment for digital payment solutions.


How much is Bitcoin worth?

Another factor that makes Bitcoin unique is that there are only a limited number of coins. Specifically, there are 21 million, which helps people believe that the currency is a tool to hedge inflation.

Daniel Polotsky, CEO of CoinFlip, Bitcoin ATM network, said, "It's not like you can print more."

A Bitcoin is currently about $58000. But someone can buy a part of Bitcoin. The smallest unit is called Cong, which is equal to 1/100 of one millionth of Bitcoin. Yi Cong is currently worth about US $0.00058.

As we all know, the price of Bitcoin fluctuates greatly. For example, last April, a Bitcoin was worth about $7000. It has been climbing in 2020, breaking the record when it broke the $20000 mark in December. In late January, the price of BTC rose by more than 5000 dollars in just a few hours. At that time -- in all the farces of GameStop -- Elon Musk, CEO of Tesla, changed his Twitter profile to "# Bitcoin".

Polotsky said that in general, fluctuations are normal, because Bitcoin is still a relatively new currency. But not forever. "Volatility does decrease over time," he said. "It becomes more stable, because the space is more stable. More and more people hold it for a long time, so the supply of back and forth transactions has decreased. The space is maturing. Compared with the past, there are more products now, and the confidence in Bitcoin is also higher." He is right about its increasingly popular view. An estimated 100 million people own some kind of encryption asset. Even Jerome Powell, chairman of the Federal Reserve, accepted the comparison with gold. In 2019, he said that Bitcoin was a "speculative hedging tool".

How to buy Bitcoin?

Perhaps the easiest way to start using cryptocurrencies is to visit an exchange, which is another market term. There are a large number of Bitcoin exchanges to choose from. But Max Branzburg, vice president of Coinbase products, said that your first step should be self-education. "Bitcoin has the potential to build a more open financial system and benefit from long-term appreciation, but it is important to remember that this asset class is still relatively new, the price may fluctuate, and there will be new development and growth with its development," he added.

Once you have studied the advantages and disadvantages of cryptocurrency, you only need to open an account in the exchange you choose and verify your identity. After connecting your debit card, credit card or bank account, you can start.

Branzburg added: "You can immediately start buying Bitcoin for as little as a few dollars or as much as tens of thousands of dollars to start building your portfolio."

People keep their cryptocurrencies in digital wallets. Although there are many kinds of Bitcoin wallets, beginners may want to use managed wallets associated with exchanges. This makes it harder to lose the key.

"You can put a wallet on a USB stick or mobile phone, but it is relatively complicated," said Gemini's Lovell. "The easiest way is to have a secure, regulated custodian keep your funds for you. Then you can access these funds with only a username and password."

In general, the above content introduces in detail how much Bitcoin is worth and how to buy Bitcoin. I believe you will understand it after reading it. In short, as the first cryptocurrency, Bitcoin has made great progress in its value. Bitcoin transactions are completely transparent and cannot be reviewed. You can easily send cryptocurrencies to anyone on.