What are the functions of Bitcoin?
What are the functions of Bitcoin? According to Bitcoin news, Bitcoin is a form
What are the functions of Bitcoin? According to Bitcoin news, Bitcoin is a form of digital currency. It comes in two forms: one is anonymous, and the other is secured by cryptographic algorithms. The latter form is decentralized and non-fungible (NFT), such as Ethereum or Litecoin, which can be traded.
Does Bitcoin have any characteristics? Before the birth of Bitcoin, its main functions included sending electronic cash and keeping records of assets, which were achieved through the use of computer programs.
The operation principle of Bitcoin is similar to that of gold. There is no central authority or bank controlling the market price. Therefore, people choose to invest their money in something very inconvenient. However, if someone wants to participate with their identity, they can freely convert their Bitcoin into fiat currency.
What is the purpose of Bitcoin?
According to CoinDesk, Bitcoin is one of the most popular cryptocurrencies in the world. It is considered a store of value and ranks first among many assets. According to data from CoinMarketCap, its market value is approximately $400 million (over $1 billion at today’s price), but this number has decreased compared to 2017. Since 2017, there have been more than 200 listed companies announcing the purchase or holding of virtual currencies such as BTC, ETH, and LTC. Although these companies acknowledge their market leadership in the industry, they do not truly understand their impact on the crypto market.
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