12 days of christmas bitcoin wirex

SHARE
← Back to articles
SHARE

On the 12th day of Christmas, Satoshi gave to me… BITCOIN (BTC)!

December 23, 2017 9:00 am Published by

It’s been called a few different things:

Digital gold.

Magic Internet Money.

The Grandfather of all Crypto…

It’s been around for 9 years and this year it has received a lot of attention – both good and bad. But everyone is catching on and almost everyone is talking about it now.

We want to make sure you’re up to scratch with your facts so that you can walk away sounding like a complete Bitcoin pro.

Let’s run through what you need to know:

What is Bitcoin?

Well, where do we start? The short answer is, it’s digital money.

The slightly less short answer is that it is the first global, peer-to-peer cryptocurrency and payment system.

Why should you care?

  • Transparency: Anyone can see Bitcoin transactions – as it is on the ‘blockchain’ (learn how it works)
  • Decentralisation: Nobody owns or can take down the Bitcoin blockchain. It’s a peer-to-peer network.
  • Capped Supply: Bitcoin is capped at a maximum of 21 million Bitcoin. No more.

A bit more about Bitcoin:

  • Established Date: January 2009
  • Circulating Supply; 16,740,875 BTC
  • Total Supply: 21 million BTC
  • Market cap: $277 Billion USD
  • Notable Team Members:
      • Creator and developer, Satoshi Nakamoto.
      • Proof of work creator, Hal Finney.

The Price

At the beginning of 2017, one Bitcoin was $975 USD.

Today it’s around $16,560 US dollars.

That’s a gain of around 1700% this year!

 

Bitcoin price graph

Source: Coin Market Cap

Why the hype?

Everyone seems to have their own views on Bitcoin.

The general sentiment is that it has the potential to completely change how society perceives and uses money. and that’s enough to get everyone talking.

Bitcoin is digital Gold. It’s the first cryptocurrency and it paved the way for the 1000+ existing altcoins and many more to come. Bitcoin is a censorship-resistant, peer-to-peer payment system, relying on cryptographic proof rather than trust(in a financial institution).

And it’s the original.

Fun Facts:

  1. Lamborghini, the first car brand to accept Bitcoin.
  2. Someone once swapped 10,000 Bitcoins for a pizza in 2010. They’re now worth over $150 million USD
  3. The Bitcoin network is more powerful than 500 supercomputers put together
  4. The 21 million Bitcoin limit is expected to be reached in 2140
  5. Microsoft, Expedia, Dell, Virgin Galactic are some of the companies that accept Bitcoins as payment

Buy, Store, Send & Spend Bitcoin with Wirex

Using the Wirex app, Buying and Storing your Bitcoin has never been easier…

Send your Bitcoin to anyone in the World, easily within the app and Spend Using your Wirex debit card

If this is the first time you’ve stumbled across us, it’s easy and free to sign up.

How Singapore is becoming a crypto-hub

When it comes to cryptocurrency adoption, the Asia-Pacific region is way ahead of the curve. The likes of South Korea, Hong Kong, China and Japan were early adopters of crypto and blockchain technology; now, Singapore is quickly emerging as a world leader in the mainstream adoption of digital currency. Regulatory Stance The Monetary Authority of… View Article

ICO image
Why Wirex is not an ICO

Initial Coin Offerings (ICOs) have received a lot of press but not always for the best reasons. Experts estimate that over 80% of ICOs have fraudulent intentions. Unfortunately many people tend to associate any company that works in the crypto space with ICOs, and this may have a negative effect on the entire industry. So,… View Article

Where crypto fits in the land of the free

How does crypto feature in The Land of the Free? From Bitcoin’s inception to the present day, the United States has been a key player in the spread and success of cryptocurrency and its associated technology. With this in mind, it was only right that Wirex should have a presence across the pond. Following the… View Article

Crypto in Canada

Canada is a significant player in the global cryptocurrency market. Although the UK and US are marginally ahead in the rankings for traditional blockchain adoption, Canada leads the way in Ethereum blockchain technology. This can be attributed in-part to Vitalik Buterin, the prodigious Russian-Canadian programmer who founded Ethereum. Buterin, energy and the crypto miners Buterin… View Article