What is Bitcoin?

What is Bitcoin?

 
What is Bitcoin?
 
The question of “what is Bitcoin” is one the most frequently asked questions in Turkey. Actually Bitcoin is just a virtual currency. But after its launch, it attracted great attention on the contrary of expectations and nowadays investors are arguing about how it gained value in a short period. Investors have this question on their mind; Is Bitcoin a right investment tool. How can I buy Bitcoin? How much is Bitcoin? Why Bitcoin is going down? Why Bitcoin is depreciating? Is Bitcoing going up or down? All the answers for these questions are as follows;
 
First of all, Bitcoin was founded by Stoshi Nakatomo in 2008 and it’s a virtual currency which doesn’t belong to any central banks, public agency, bank, intermediary company etc and it can be purchased with all the other currencies in the world. The symbol of Bitcoin which is used as an alternative to Euro or US Dollar is ฿ and the abbreviation of it is BTC. Will Bitcoin replace conventional currencies? One the most asked question is this one; will it make paper money useless? It is obvious that you have to take this currency seriously after all this demand, but for now, for it’s hard to surpass the other commonly used currencies.
 
How Bitcoin is produced?
 
How doyou produce it and how do you make money out of it? It is called mining. It is a currency which is purchased and sold on its own. It is a fact that it’s the leading corner stone of virtual currencies. But now companies are producing their own Bitcoins and releasing them to public. They are attracting investors to their projects and making them invest to their companies. If the investments are returned then they begin to make money. Because the companies which they have invested are starting to declare profits. There are many other virtual currencies around. Even if they are indexed to Bitcoin, their own value increases day by day. We are going to write about the risks of Bitcoin in another article. Continue to follow Girişimci Ajansı.