Due to the increased interest in cryptocurrency, Internet users leave a variety of queries in search engines regarding Bitcoin and a number of other altcoins. To explain in simple terms what Bitcoin is, it is the world’s first and most popular virtual currency, based on an extensive blockchain database, which makes up a chain of blocks from completed transactions. When a block enters the system, it becomes part of the data chain about completed transactions, and also stores information about previously performed transactions. Each user is aware of completed transactions, and this helps prevent data theft. Using Bitcoin, you can make purchases, receive money transfers and exchange it for currency.
- How much does one bitcoin cost?
- Bitcoin shares
- Bitcoin quotes
- What does Bitcoin look like?
- Bitcoin cost
- Bitcoin dynamics
- Bitcoin virtual currency
How much does one bitcoin cost?
The question “how much does one bitcoin cost” cannot be answered unambiguously: bitcoin, like any other cryptocurrency, is characterized by extreme instability of its exchange rate. Despite this, Bitcoin has been occupying a leading position in the cryptocurrency market for many years as the very first and largest token in terms of capitalization, interest in which is only growing.
Initially, Bitcoin cost $0, since the bitcoin.org domain was just registered, but over 12 years it accelerated the value to the absolute maximum in the history of cryptocurrencies, which was noted on March 13, 2022 and amounted to $60,021 (4,399,239 rubles). Of course, the path to this peak was wavy with consolidation at several new highs relative to previous peaks, alternating with declines in price, but
Today Bitcoin on the UNI Stex exchange costs $48,634 or 3,572,727 rubles.
One Bitcoin contains 100 million satoshis - smaller coins named after the name of the creator of Bitcoin.
Since its inception, the most popular cryptocurrency, Bitcoin is usually bought and sold in parts.
Litecoin 2013: 2nd place
- Price: $2.60
- Capitalization: $54,179,159
2018: 7th place
- Price for 2022: $55.33
- Capitalization for 2022: $3,233,981,432
Litecoin remained in the top 10 largely due to the high activity of its community and constant innovation, the main driver of which is the creator of the coin, Charlie Lee.
Bitcoin shares
There is no such thing as shares of Bitcoin or any other cryptocurrency, but by analogy with shares of companies on the stock exchange in which people invest money, investors assume that you can buy a share of Bitcoin due to its high cost. This is indeed possible, but the only minimum unit to purchase would also be a cryptocurrency called Satoshi after the developer (or group) of the Bitcoin cryptocurrency protocol and software, Satoshi Nakamoto.
Satoshi is equal to 0.00000001 BTC or 0.0005 US dollars. If you did not have time to buy Bitcoin at the start of the price increase, then it is possible to buy Bitcoin in parts, since Satoshi is inexpensive. These shares can be bought and sold on the exchange, as well as exchanged for altcoins.
Satoshi and Bitcoin can be used to pay for goods and services in a number of companies
Miners who mine the Bitcoin cryptocurrency receive their reward in Satoshi, since even with the enormous computing power of computers, Bitcoin will be mined for several years. This slow speed is due to the fact that the difficulty of the hashrate has increased and the number of computers involved in mining has increased. Also, the number of bitcoins not yet mined is rapidly decreasing, and every four years, due to the halving procedure, the number of bitcoins miners receive as a reward is reduced.
Satoshi is a convertible currency that can be exchanged on exchanges or exchange offices for rubles, dollars, euros and currencies of other countries. Cryptocurrency exchanges
You can buy minimum units of Bitcoin on our UNI Stex exchange at the most favorable rate.
Peercoin 2013: 5th place
- Price for 2013: $0.179534
- Capitalization for 2013: $3,614,156
2018: 158th place
- Price for 2022: $1.07
- Capitalization for 2022: $26,762,670
Peercoin is the very first cryptocurrency to adopt the Proof-of-Stake mechanism combined with Proof-of-Work. Peercoin emerged in mid-2012 as a more scalable and energy-efficient alternative to existing cryptocurrencies. However, the coin failed to attract investors to seriously develop the project.
Bitcoin quotes
In fact, the concept of “bitcoin quotes” means expressing the price of bitcoin in other cryptocurrencies. Traders are usually given access to quotes for currency pairs and decide whether to sell or buy them. In cryptocurrency pairs with Bitcoin, the quoted currency is Bitcoin, and the base currency is all other altcoins. So, for example, in the BTC|ETH pair, the base cryptocurrency is ETH (Ethereum), and the quoted cryptocurrency is BTC. When performing trading operations with cryptocurrency pairs, you should pay attention to several points:
Market capitalization
With a low market capitalization, coins show large price jumps within a day. Sometimes young altcoins rise by 150% during the day, and in the evening they fall by 500-600%. Take a look at the top 25 coins with the largest market cap.
Coin chart
Strong jumps during the day, such as with XRP, despite its large volume, indicate the instability of this cryptocurrency pair.
Coin type
In addition to the quoted currency, cryptocurrency pairs should include stablecoins - stable coins tied to certain fiat assets (USDT, USDC, etc.)
On the UNI Stex exchange we offer you to trade the most profitable cryptocurrency pairs: BTC/ETH, BTC/USDT, ETH/USDT, ETH/LTC, BTC/LTC.
Operational Security
Unlike a classic bank transfer, when making a transaction in BTC, users do not transfer the currency itself, but only an entry that makes a change in the electronic journal. Its protection is provided by:
- anonymity;
- the presence of an encrypted code that is accessible only to the recipient;
- a one-time electronic signature that cannot be forged.
All transactions are anonymous, since not the user’s personal data (for example, bank card number and full name) is transferred, but only encrypted electronic files.
What does Bitcoin look like?
Since Bitcoin is a virtual currency, an analogue of fiat money, it has no other form other than that written in code. Despite the fact that every network user has the right to mine Bitcoin, it is impossible to counterfeit it, since information about the found Bitcoin is stored by all users. Bitcoin is a hash function or address that is transmitted to other network participants to conduct a transaction. The hash amount is calculated automatically. When using coins, two types of key are used - public (no need to hide from other participants) and private (must be kept only by the owner).
On the Internet you can find images of Bitcoin in the form of metal coins, which are issued by both individuals and companies that have their own Bitcoin wallets.
Such material media are manufactured in stages:
- First, a coin of an original design is made from metal.
- denominations of 0.1, 0.5, 1, 5, 10 Btc are applied
- A unique Bitcoin address is generated for each coin
- The first 8 characters of the public key are written on top of the hologram to confirm its authenticity
Advantages of the Bitcoin network
The Bitcoin network has been gaining popularity over the past 2-3 years, which has allowed BTC to almost immediately become the world's main cryptocurrency. This was made possible thanks to the obvious advantages of BTC :
- Anonymity: users do not share personal information.
- Speed of operations (although system performance is noticeably lower than international payment systems).
- Significant cost reduction (no need to pay for interbank transfers).
- Reliability and security thanks to encrypted records and one-time keys.
- Anonymity.
- There are no intermediaries - network participants exchange cryptocurrency directly, which again reduces costs.
Bitcoin cost
Today, the price of Bitcoin on the UNI Stex exchange is fixed at approximately 43,300 dollars, but back in April 2021, the Bitcoin rate exceeded $64,000. Until September 7, the rate was growing steadily, but several circumstances provoked a correction in the market. This includes the news about the recognition of Bitcoin as legal tender in El Salvador, which caused a correction due to market overheating, and the influx of a large number of coins mined by miners into the market (about 3,000 bitcoins in one week). The fall in the Bitcoin rate was the first serious price drop on the market since May.
News about an increasing number of companies introducing Bitcoin as a means of payment for goods and services entails an increase in the rate of Bitcoin, as well as other altcoins. However, every rise in the rate that causes a so-called bullish trend is followed by a fall.
One way or another, the cost of Bitcoin will depend on a number of circumstances. As you know, the market is driven by many factors. There are large players in the market, called “whales,” who have a large number of bitcoins in their wallets, and the situation with the bitcoin exchange rate depends on what decision they make: to sell or buy cryptocurrency. They can artificially create a wave in the market, either bringing down the price of Bitcoin or increasing it. There are entire corporations that own large amounts of digital assets, like hedge funds or financial institutions like Bitcoin Investment Trust.
Whales often use “rinse and repeat” tactics to control market trends, where large amounts of Bitcoin are sold below the market price, which causes panic in the market and a drop in value, which again gives the whales the opportunity to buy large quantities of Bitcoin at the lowest price. low price. This cycle can be repeated endlessly.
Supply and demand
In conclusion, there are only 2.4 million Bitcoins left to be mined over the next 119 years . With nearly 90% of all BTC that ever existed already in circulation or lost forever, these new coins will be in demand.
January 2022 137m users, 18.6m BTC, 3.8m lost => 0.11 BTC per person
January 2025 1b users (estimated), 19.8m BTC, 3.8m lost => 0.016 BTC per person
At full global adoption: 8b+ users, 21m BTC, 3.8m lost => 0.002 BTC per person
That's how early you are.
— Willy Woo (@woonomic) January 4, 2021
The current market cycle suggests that institutions are buying coins in unprecedented quantities and, given the economic conditions around the world, this trend is unlikely to change anytime soon.
Over the course of twelve years of its life, Bitcoin regularly updated its highs, forming rising lows in bear markets. Bulls and bears have formed four distinct market cycles, but overall the long-term trend remains upward.
This trend is unlikely to change in the future, unless the Internet as we know it ceases to exist.
Bitcoin dynamics
Bitcoin dynamics are influenced by many factors. This cryptocurrency is subject to high volatility due to the absence of an external financial regulator. We can say that sometimes the Bitcoin exchange rate resembles a roller coaster, as crashes and rises occur so often. In 2016, the Bitcoin rate soared from $500 to $1000. In 2017, the cost of Bitcoin increased from $1000 by 2 and a half times.
The current bitcoin exchange rate depends on the demand for this currency as a unit of account for real transactions (the volume and number of payments made, and not the number of bitcoins in traders’ accounts). Also a powerful lever for the movement of the exchange rate is the concept of “pumping”. Large cryptocurrency holders deliberately buy orders in large quantities to artificially create a rush. Then, after a surge of interest in a certain cryptocurrency, a dump follows - the dumping of assets by traders. Before the drain of assets, negative news appears about the market situation, which provokes traders to sell cryptocurrency.
Transaction Features
Bitcoin transactions have a number of features. If regular currency (for example, the US dollar) is issued only by the central bank and no one else, then in the case of BTC, any user becomes the mining center. This is possible thanks to the technology of decentralized finance, as well as the lack of control from the regulator.
In addition, all money is transferred anonymously, since the user’s full name and other data are unknown. Although if a participant has publicly indicated his address somewhere, then any other person will also find out his personal data. Therefore, anonymity is not 100%: it all depends on the behavior of the owner of the electronic wallet.
Another feature is a very high level of system security. It is impossible to gain access to transactions and the wallet of a system participant. But in practice, cases of hacking are sometimes observed, and in 99% of cases the cause is the client’s inattention. In other options, hacking and theft are practically excluded, since the account is protected by a two-factor identification system.
Bitcoin virtual currency
Bitcoin is the world's very first virtual currency that has no external regulator and no central server. The system operates decentralized by storing data on completed transactions in information blocks. Bitcoin can be called a program that stores data about the following:
- storing balance information on user wallets
- transfer of cryptocurrency between users
- rewarding users for maintaining the network in working order
Maintaining the Bitcoin network requires spending a huge amount of electricity and, since interest in mining has increased, a much larger amount of money has been spent on purchasing equipment for mining cryptocurrency.
Despite the fact that Bitcoin is a virtual cryptocurrency, exchanging it for fiat currency is not difficult: it has real value, is pegged to the US dollar, and is easily withdrawn to an electronic wallet or bank card.
Many countries already recognize the fact that Bitcoin, like other virtual currencies, compete with fiat currency, and that blockchain technologies will be the future.
Methods of obtaining
Any user can receive BTC. There are several available ways to do this:
- Exchange offices (for example, bestchange.ru) - here you can convert BTC into different currencies. The choice is extensive, but the rate is unprofitable, and the services charge significant commissions.
- Exchange platforms are the most profitable way through which you can purchase Bitcoin at a favorable market rate. Popular exchanges: Binance, EXMO, Livecoin and others. The main conversion direction is BTC - US dollar.
- Brokers who provide services to the Forex market. These are, for example, Roboforex, ForexClub and others. Trading is conducted through the MetaTrader terminal, which is installed free of charge on a PC.
- Via telegram bot.
- With the help of Bitcoin faucets that distribute Bitcoin for free (however, this will take a lot of time).
- Directly from other users who have an electronic wallet in the system.
- With the help of ICO.
- Via WebMoney.
- Through peer-to-peer services - for example, localbitcoins.com.
Finally, to get Bitcoin, you can mine it yourself. To do this, purchase the necessary equipment and download programs for Windows or other operating systems.
Terracoin 2013: 9th place
- Price for 2013: $0.178399
- Capitalization for 2013: $652,485
2018: 606th place
- Price for 2022: $0.131430
- Capitalization for 2022: $3,014,402
Terracoin was released in 2012. His priorities were speed, anonymity and user-friendly controls. However, despite its innovative capabilities at the time, Terracoin was never able to attract the attention it deserved from investors.
Primecoin 2013: 8th place
- Price for 2013: $0.543887
- Capitalization for 2013: $1,013,297
2018: 237th place
- Price for 2022: $0.620691
- Capitalization for 2022: $15,534,058
True to its name, Primecoin is all about prime numbers. More specifically, Primecoin (XPM) uses a proof-of-work system that looks for chains of prime numbers. However, this function, which was used in mathematical research, did not seem promising enough to investors.
Novacoin 2013: 7th place
- Price for 2013: $3.92
- Capitalization for 2013: $1,491,014
2018: 368th place
- Price for 2022: $3.70
- Capitalization for 2022: $8,112,842
Novacoin, like Peercoin, combines Proof-of-Stake and Proof-of-Work, but uses a different hashing algorithm. However, the differences between Peercoin and Novacoin do not seem to have convinced investors of the latter's value.
