Nowadays, Bitcoin is the buzzword of the Internet, by virtue of its dramatic price surge during the first quarter of 2017. Bitcoin is a cryptocurrency, which is based on the idea of decentralisation. This currency was launched in 2009 by an anonymous Blackchain aficionado or a group, named Satoshi Nakamoto.
This nucleus of this open-source currency is Blockchain; it is a distributed ledger, which process and store every transaction initiated over the Bitcoin network.
Bitcoin Brand and How It Achieved a Big Feat in a Short Span of Time
The popularity of Bitcoin, in the last couple of years, is scaling new highs; a 2015 report said, 100,000 merchants and vendors are accepting Bitcoin as means of payment. Today, you can do anything to everything with Bitcoins stored in your digital wallet. Shop for daily necessities in European and American malls, book hotels on Expedia, or even avail professionals services. Just, like the Facebook icon, the Bitcoin logo is building familiarity in several parts of the world, where digital currency is legalised.
But, what has fuelled the strong following of Bitcoin around the globe is its robust branding, which has magnetised people, even the non-tech savvy to think about investing in cryptocurrency. And, this is can proved from the fact that in 2009, at the time of Bitcoin a launching there was no other digital currency, and now in 2018, there are hundreds and hundreds of fighting it out to conquer the crypto market.
What Are Bitcoins?
A Bitcoin is a minutest digital currency unit, which can be exchanged between two individuals, customer to business, and business to business, without disclosing the identity. This currency unit is not tied to any financial limitations. Plus, unlike the credit card processing, there are no fees.
The Bitcoin Exchanges Platform
In no time, with the instant success of cryptocurrency side, Bitcoin exchanges in the recent years have cropped up at a rapid rate over the World Wide Web. They allow people to buy Bitcoins with any global recognised currency. Plus, there you can also sell your Bitcoins with great ease. One of the strong reasons for the growing popularity of the Bitcoin currency is the fact that it is a liquid commodity, means you can acquire and sell it anytime, without confronting any hassles.
Future of the Bitcoin Currency
The future of crypto space is promising, with nations working on frameworks to incorporate the Bitcoin money into the financial setup. And, the price correction, during the first month of 2018, also showed good signs that this year; Bitcoin will conquer new peaks of popularity and market value. The Bitcoin is expected to gain grounds in developing countries, as one recent report read, 59% of the adults in developing nations don’t own a bank account, and in this is where cryptocurrency is predicted to make hey.
To sum up, from the above information about Bitcoin and its branding in the present world, it is no brainier to say that this currency has bright prospects in the coming years.