No one knows who Satoshi Nakomoto is. But he, she, or they had a vision for a new kind of currency in 2008.
This new currency – or cryptocurrency – would not be centrally controlled by any one business or government.
They called it Bitcoin, and it was a radically new way to transact and store value all around the world.
Bitcoin holds its value because there’s a limited amount out there, kinda like a nugget of gold or silver.
Powerful computer networks created each unique Bitcoin by using very complex math. This is called mining!
A new kind of database, the Blockchain, validates that each Bitcoin exists – and confirms its rightful owner.
But how do you even get Bitcoin? Well, you buy it from specialized exchanges, like Coinbase, Binance or Bybit and Kucointhat have it in stock.
Similar to gas prices, Bitcoin prices can change a lot over time as supply and demand go up and down.
But where do you even keep all your Bitcoin? Some choose to store it in a wallet on their computer/smartphone or in a physical wallet like Ledger.
Regardless of where you keep it, your Bitcoin is pretty valuable. So make sure to keep it safe! ;)
That’s a lot to imagine, isn’t it? One thing is clear though: Satoshi’s vision is having an impact all around the world!
So are you ready to buy your first Bitcoin?
Coinbase is already the easiest way to send and receive money with friends and family. They’ve made it just as easy to buy and sell BTC straight from your Coinbase balance. Unlike other apps, most of their buys and sells happen in seconds. You can even spend your proceeds from a free Visa debit card.
Bitcoin’s price is volatile and unpredictable, so please make wise financial decisions. However, you can own as small of a slice as you want. Don’t spend more than you can afford.