Bitcoin is the premier cryptocurrency, which is ruling the financial world. Bitcoin is a peer to peer currency and payment system which is decentralized and completely different from traditional banking systems. This new concept was introduced in the year 2009, but off late, it is becoming popular in many new countries. Bitcoin is a product of decades of study and research into cryptography. There are various interesting things about this digital currency; slowly it is getting popular in many places around the globe. Detroit Bitcoin ATM and other online exchanges are available where you can buy digital currencies with ease.
CryptoCurrency was first deployed based on block chain in the year 2009 and the same year; it was traded the first time. Around July 2010 the price of Bitcoin was 8 cents, a number of nodes and miners was very less when compared to thousands in the present day time.
In a short span of one year, the price of this alternative digital currency increased to $1, and it is turning out to be a good prospect for the future. In that time mining was very easy and many individuals were making a good amount of money.
Within next six months, the price doubled to $2. Bitcoin was showing good trend, and many individuals and investors were showing interest in this new currency system. In this short span, this currency showed a growing pattern, and many started believing it to be the next big thing in the market.
By December 2012, the price of bitcoin increased to $13, and this was already making news in many places around the world. In the next four months’ time till April 2013 Bitcoin price increased to whopping $266. This was the time when people started debating about this new currency system and its real work scenario in days to come. Soon with time, Detroit Bitcoin ATM machines started coming up, and it is now one popular way of buying digital currencies.
Many investors around the world got acquainted with the currency system. Investors did not doubt that the currency was the future and it had some amazing features coming up with it. By the end of 2013, many top companies around the world started favoring this digital currency as a mode of payment. Many started believing that Bitcoin served its purpose and now it will settle down.
However, with the introduction of Detroit Bitcoin ATM, this digital currency became more popular. In a short span of time, many geographical locations were installing BTM machines to serve more number of digital currency users.
This digital currency reached the magical figure of $1000 first in January 2017, and since then its price is increasing exponentially. There is no doubt that the fact that Bitcoin is making new records, it’s hard to believe that it was worth 8 cents only seven years back.
Are you looking for short-term or long-term investment? Bitcoin is definitely a good option. Experts believe future is extremely bright and its price will keep increasing for days to come.