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Bitcoin (BTC) exchange rate

Price for today

57,144,56 USD 0,17%

0,00000000 BTC 0,17%

Market Cap
1,143,519,004,081 $
Volume 24h
723,500,799 $
  • Name: Bitcoin

  • Symbol: BTC

  • Circulating supply: 0 $

  • Max supply: 0 $

  • Price: 57 144,56 $

  • Volume 24h: 723500799 $

  • Market Cap: 1.144 T $

  • Percent change 24h: 0,17 %

About Bitcoin

Bitcoin is a father of all cryptocurrencies, the most well-known cryptocurrency in the world. All we have known about the cryptocurrencies – their place in the global economy, mining, crypto payments, first purchases, crypto investments – was tested with Bitcoin. 

Since its launch in 2008, Bitcoin knew the good and the bad times. In 2017 end Bitcoin celebrated the peak with more than $20k for one BTC. Now the price is twice less, and nobody knows where it goes tomorrow. However, the Bitcoin is a pioneer of cryptomarket and will obviously stay alive while this market exists. So, investing in Bitcoin is an option.

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What Is Bitcoin (BTC)?

If you follow Bitcoin news, you know that  Bitcoin has been reaching new and new horizons in recent months since December 2020. On March 13, 2021, the exchange rate reached a historic high of $ 60,000. The main global cryptocurrency, which everyone has definitely heard about now. Let's analyze what you need to know about it, how to get it, and what justifies its value.

Bitcoin is a payment system that uses the eponymous unit of the same name to account for transactions – that is, Bitcoin (BTC). The system is based on blockchain technology. A monetary transaction, the result of which is recorded in the diary, is a transaction. The sequence of records in it (each of which is called a block) is a blockchain. The process of competition p for the selection of a suitable nonce is mining, and the participants themselves are miners. The fee for writing a block is a commission per transaction.

Bitcoin is very similar to gold, which cannot be copied – it can only be mined. But this is a very costly process, both in terms of time and resources. This is one of the reasons why gold is so valuable. However, if people are involved in gold mining, then mining uses the computing power of computers provided by the participants in the transactions. Roughly speaking, there is only one way to get more new BTC: to process more transactions. Miners provide more and more computing power. Because of this, the demand for video cards and for electricity is growing.

Advantages of this digital currency:

  • Decentralization. An important feature of Bitcoin that has led to its popularity is the decentralized nature of this payment system. In other words, Bitcoin is not under the control of a state, organization, or individual. The program code is completely open, and the system participants are scattered all over the world. Anyone who wants to join will be able to do so without hindrance.Transaction histories and balances of fiat currency wallets are stored on special servers owned by financial organizations. Such repositories are often hacked, which is quite unpleasant for ordinary users. There is nothing in the Bitcoin system that can control the data. Moreover, all the data in this network is publicly available to absolutely everyone. And you won't be able to change them.
  • Anonymity. Unlike traditional financial systems, Bitcoin does not require you to authenticate with your passport data. You are your address in the Bitcoin network. You can get as many addresses as you want. The ability to make financial transactions will only depend on whether you have enough funds in your account. And by the way, anyone can calculate the status of your account, but they can't know anything about you except your transaction history and your wallet address.
  • Stability. You can't change a block in the blockchain. This is almost impossible. Otherwise, you would have to change a huge number of records on millions of computers around the world at the same time. Therefore, no transaction can be canceled or replaced with another one.
  • Limited issue. Traditional fiat money has unlimited issuance, as central banks can always print as much money as they need. Let us recall the analogy with gold. The more difficult it is to extract gold and the smaller its reserves, the more valuable it is.

This is a mechanism for controlling inflation. In Bitcoin, a similar mechanism is implemented: the system gradually reduces the number of bitcoins produced in total per unit of time. This looks like an inverse proportionality function. And yes, there will come a time when the number of bitcoins in the world will become a constant value. Just like the amount of gold reserves on Earth.

Buying Bitcoin

Bitcoin price tends to go up and it's a sign to move. Buying Bitcoin is the simplest operation in the crypto world. This is the main currency that is common on any exchange platform. Therefore, you can choose any one that is most convenient for you. To buy BTC for dollars and to change Bitcoin to USD, we recommend the main platforms, such as: 

  • Binance
  • Coinbase
  • eToro

If you already have another cryptocurrency in your account, but you want to exchange Bitcoin, you can use the faster and completely anonymous Godex exchange platform.

You can also buy Bitcoin directly in the Bitcoin.com Wallet app.

Circulation of Bitcoin

The limit number of BTC coins that will exist in the world is 21 million. It will be impossible to get more than this amount. As we wrote above, this is one of the conditions for creating Bitcoin value. That's why the Bitcoin price is so high.  At the moment, about 88.65% of all tokens have been mined and are in circulation. This is approximately 18.6 million BTC. The remaining 11.35% has 120 years to mine. The last block will be mined in 2140.

The rate of Bitcoin emission is sewn into its code and is strictly limited. Every four years, production is halved. In addition, as the graph below shows, it becomes more difficult to find a new block over time.

Can You Mine BTC?

Bitcoin mining requires special equipment with high computing power. And if earlier a relatively powerful computer with a video card was enough for this. Now mining is possible and profitable only when creating entire enterprises or mining farms, as it is commonly called.

In 2020, the bitcoin network passed an important milestone — the third halving, when the reward for miners for the extracted block was halved, from 12.5 BTC to 6.25 BTC. Due to the reduction in the remuneration for mining, the revenue of miners is reduced, and mining enterprises are looking for ways to compensate for the lost profits — they switch to more energy-efficient and powerful equipment, do not sell the extracted bitcoins immediately, but wait for the exchange rate to rise, and so on. Therefore, the strengthening of bitcoin after the third halving was quite expected.

F.A.Q.

How does Bitcoin work?

Bitcoin is understood as a public registry, in another way it is also called a blockchain. It contains the history of all transactions ever made, which can be seen and monitored by any user. 

That is, it is an open payment system that is not controlled by a single authority. Everyone has access to information about all available transactions, but it is impossible to hack or change the block chain, since this requires controlling more than 51% of all capacities. Not only is this unlikely from the point of view of how decentralized the network is, but you also need to spend about $486,000 per hour to attack, and there will be almost no profit from this. Therefore, this can almost be considered impossible.

How Many BTC Coins Are There In Circulation?

According to Bitcoin news, to date, about 18 650 587. 5 BTC has been mined. This is about 89% of the total number of all available tokens. It is worth noting that the actual participation in the turnover is much less, since there are a huge number of wallets whose users have forgotten their password. This means that they can't do anything with the Bitcoins (or any other cryptocurrencies) in their account. Therefore, we remind you to take a very responsible approach to recording and storing your wallet keys.

How Can You Convert Bitcoin (BTC)?

To sale, to purchase or to exchange Bitcoin will not be difficult. You can make a similar operation on any exchange. Converting Bitcoin to USD is easier than you might think. If you want to exchange another cryptocurrency for Bitcoin or vice versa, it is convenient to use the anonymous, secure exchange service Godex, which provides users with an exchange with some of the lowest transaction fees.

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