The world of cryptocurrency may seem like the wild west to some, but for those that take the time to understand how it operates, the investment opportunities are vast.
In this article, we’re taking a look at the world’s most well-known cryptocurrency, Bitcoin. We’ll cover what it is and some pros and cons of investing in it.
Disclaimer: The investment information in this article is offered solely for educational purposes. We do not provide advisory or brokerage services, or suggest or advise investors on which stocks or assets to purchase or sell.
What is bitcoin (BTC) and what does it stand for?
Bitcoin is a decentralized digital currency that eliminates the need for intermediaries such as banks and governments, instead of relying on a peer-to-peer computer network to validate transactions directly between users.
The government that issues fiat money (like the dollars in your bank account) backs and regulates it. Bitcoin, on the other hand, is based on a combination of networking technology and software-driven cryptography, which is the science of sending secret data that can only be read by the sender and receiver. This results in a currency that is backed by code rather than actual ass… Read More