Bitcoin price soared to pass $ 20,000 level for the first time in history on Wednesday.
Dey virtual currency is currently trading above $ 20,500, according to CoinMarketCap. E bin reaches less than $ 5,000 early in the year.
Dis weak takes earnings so far to more than 180%.
Sabi pipo says Bitcoinn isn’t getting a boost from big-name investors like Paul Tudor Jones and Stanley Druckenmiller wey move their own god assets into cryptocurrency di, while tech companies like Square and MicroStrategy don are also choking inside bitcoin .
Oda’s major cryptocurrencies are also experiencing significant increases in value, including Ethereum (ether), ripple (XRP) and litecoi wey rising by 4 to 7 percent.
Wetin be Bitcoin?
Bitcoin than cryptocurrency, virtual currency or digital currency – nor wey dey kind of currency is completely virtual.
No like an online version of cash. You fit use want to buy products and services, but not many stores accept Bitcoin yet.
Non physical Bitcoins you see inside photos doesn’t mean anything without private codes wey dem print inside dem.
How does e dey work?
Basically, all Bitcoin computer files or wey dem storage in the ‘digital wallet’ app are on top of a smartphone or computer.
Pipo fit sends Bitcoins (or part of one) to a pesin digital wallet, and you fit sending Bitcoins to oda pipo.
All transactions entered inside the public list wey dem call blockchain.
Dis weak makes it possible to trace the history of di Bitcoins to prevent pipo from spending non-god coins, making copies or blocking transactions.
How do you fit in for?
You fit buying Bitcoins with ‘real’ money.
You are fit to sell things and let pipo pay you Bitcoins.
Or dem fit creating for a computer.
E dey safe?
All recorded transactions are public so it is very difficult to copy Bitcoins, make fake ones or spend ones that are not your own.
It’s possible to lose your Bitcoin wallet or delete your Bitcoins and lose dem forever. Pipo don is also a thief of wey dey websites letting you store your Bitcoins remotely.
The value of Bitcoins is not going up and down over two years since dem was created in 2009 and some pipo no tink say it is safe to turn your ‘real’ money into Bitcoins.