What is Bitcoin (BTC)? Here are 5 facts about the world’s biggest cryptocurrency!
Coins.ph
Bitcoin
3 years ago
1 QCP
1. Bitcoin is the world’s first cryptocurrency, created in 2008. It has digitally-stored value, can be converted to Philippine Pesos, and can be used to purchase goods and services from merchants that accept BTC.
2. Bitcoin is decentralized. It's not owned or controlled by a single government or organization. However, some central banks such as the Bangko Sentral ng Pilipinas (BSP) have issued virtual currency regulations and require a license for Bitcoin wallet providers and exchanges to legally operate.
Did you know? Coins.ph is the first company in the Philippines to have a Virtual Currency Exchange license from the BSP.
3. Bitcoin is powered by blockchain technology. A blockchain is a digital ledger that stores all bitcoin transactions ever made. It is designed to be secure and transparent. In fact, all bitcoin transactions are public and may be searched using blockchain explorers such as https://blockchain.com/.
4. Bitcoin is mined. Bitcoin mining is how new bitcoins are added to the bitcoin network. This is done by miners to verify the legitimacy of bitcoin transactions using supercomputers that solve complex equations.
5. Bitcoin is limited. Only 21 million bitcoins can ever be in existence. As of November 2020, there are 18.5 million bitcoins in circulation.
Experience the easiest way to buy bitcoin in the Philippines. Learn more: https://coins.ph/blog/how-to-buy-bitcoin/
Kindly note that buy & sell of cryptocurrencies and owning digital assets such as Bitcoin come with inherent risks as the price and value of such are highly volatile. The prices may change rapidly and potentially cause great losses
2. Bitcoin is decentralized. It's not owned or controlled by a single government or organization. However, some central banks such as the Bangko Sentral ng Pilipinas (BSP) have issued virtual currency regulations and require a license for Bitcoin wallet providers and exchanges to legally operate.
Did you know? Coins.ph is the first company in the Philippines to have a Virtual Currency Exchange license from the BSP.
3. Bitcoin is powered by blockchain technology. A blockchain is a digital ledger that stores all bitcoin transactions ever made. It is designed to be secure and transparent. In fact, all bitcoin transactions are public and may be searched using blockchain explorers such as https://blockchain.com/.
4. Bitcoin is mined. Bitcoin mining is how new bitcoins are added to the bitcoin network. This is done by miners to verify the legitimacy of bitcoin transactions using supercomputers that solve complex equations.
5. Bitcoin is limited. Only 21 million bitcoins can ever be in existence. As of November 2020, there are 18.5 million bitcoins in circulation.
Experience the easiest way to buy bitcoin in the Philippines. Learn more: https://coins.ph/blog/how-to-buy-bitcoin/
Kindly note that buy & sell of cryptocurrencies and owning digital assets such as Bitcoin come with inherent risks as the price and value of such are highly volatile. The prices may change rapidly and potentially cause great losses
- Bitcoin
- Phillipines
- Blockchain
- Cryptocurrency
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