Bitcoin Is The World's Oldest Crypto, Here's The Explanation!

Bitcoin is the oldest and first crypto in the world. BTC can be called the forerunner to the presence of thousands of crypto and crypto coins to date.

In recent years, the name bitcoin has been heard as a tool in the financial world that will be able to create a lot of profit.

Many people end up getting excited about trading and investing in one of a kind cryptocurrencies this. Its value is interesting because increasing its value over time is unique.

In Indonesia alone, there is already a large user base, and many companies have created specifically to be bitcoin trading platforms. Bitcoin is a new investment tool that has the potential to increase profits.

Bitcoin Is Electronic Currency

Bitcoins is a new currency or electronic currency created in 2009 by someone using the pseudonym Satoshi Nakamoto.

Bitcoin is often used in transactions on the Internet without going through intermediaries or using banking services. Where BTC uses the system peer-to-peer (P2P).

However, the system works without a single repository or administrator because the United States Department of the Treasury calls bitcoin a non-cash currency. Unlike many other currencies, BTC is not dependent on a single issuer.

Bitcoin uses a distributed database spread across nodes and P2P networks and records transactions. It also uses cryptography to provide basic security features, such as ensuring that BTC can only be used by its owner, and not more than once.

Therefore, BTC can be used in various types of transactions such as buying internet servers, buying fashion products, and so on.

There are also many people who simply trade BTC as a lucrative investment project, and many have become rich as a result.

This affects its price which will reach hundreds of millions of rupiah in 2021. Unlike money which is usually stored in bank accounts, BTC is stored on personal computers in the form of wallet files, or stored in wallets provided by others. The owner doesn't need an identity, and the person can have an anonymous nickname. 

Also read: Investment Tricks When Bitcoin Drops, Keep Earning!

Is it Safe to Invest in Bitcoin?

Bitcoin investment is safe. However, because BTC transactions are irreversible, as an investor, you must take responsibility for owning BTC and teach yourself how to protect BTC.

Thanks to the blockchain, BTC provides a safe and secure financial system via the Internet. Bitcoin is the best currency if an investor wants to differentiate the type of investment (portfolio diversification) they have because BTC is audit-resistant, limited, secure, and decentralized.

BTC is legal in many countries. In Indonesia, the Ministry of Trade of the Republic of Indonesia, BAPPEBTI, recognizes BTC as a commodity based on “BAPPEBTI Regulation No. 5 of 2019”.

Also read: 5 Bitcoin Investment Tips For Beginners, Auto Cuan!

However, in Indonesia, BTC is not recognized as legal or official means of payment, because the official means of payment in Indonesia is Rupiah.