Who created Bitcoin? Understand the history of the first cryptocurrency!

A lot is said about Bitcoin and other cryptocurrencies these days, but do you know where these coins came from? Many believe it to be something born recently, as there has been a boom in information and popularity related to the terms blockchain, cryptocurrencies and NFTs since the year 2020. This curiosity in the world for these terms has increased due to the pandemic and the whole world is experiencing economic difficulties because of it. 

However, the terms are only new to a general audience. In the cryptocurrency niche, Bitcoin has been very well known for a few years now. If you are a curious person who likes to understand how something came to be as popular as Bitcoin, then keep reading this article and understand each step of the process of this cryptocurrency's rising popularity.

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Who created Bitcoin? Understand the history of the first cryptocurrency!
Who created Bitcoin? Understand the history of the first cryptocurrency!

In this article, we'll show you who created Bitcoin, how it was created, how it's used, how and where to invest in it, and more to get some basic tips for anyone planning to start investing in cryptocurrencies in 2022.

What is Bitcoin?

What is Bitcoin?
What is Bitcoin?

To summarize, Bitcoin is a decentralized digital currency that works through peer-to-peer, that is, there is no need for there to be intermediaries between two users who are making a transaction with each other for it to be official. So it works from user to employee and no government, bank or third party can get involved. 

Even living in a different country, two people can send BTC, the abbreviation for Bitcoin, to each other without the need for a bank account or an international remittance company. An interesting point is that every means of sending and withdrawing Bitcoin and any cryptocurrency is instantaneous.

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Every Bitcoin transaction is confirmed on the blockchain, which is a huge database that has the data about every transaction of every user. THE blockchain was born with Bitcoin and it works in a way that its users have greater authority and greater freedom, being able to be auditors of the network.

Because it is 100% digital and decentralized, BTC does not need to be printed and it is not controlled by governments. Therefore, no Central Bank can determine its price. What will determine this is the law of supply and demand, so prices change quickly and you should always be aware of this issue before investing.

Who created Bitcoin? When did cryptocurrency appear?

Who created Bitcoin? When did cryptocurrency appear?
Who created Bitcoin? When did cryptocurrency appear?

It may seem like a lie, but the creation of Bitcoin is much older than many think. This cryptocurrency was born in 2008 on the 31st of October. The creation was made by one or multiple people who do not reveal their identity, however, it is possible to note that there is a Japanese pseudonym behind the creation of the coin: Satoshi Nakamoto. 

Satoshi apparently sent an email to a list of people who had an interest in cryptography and said he was working on something completely new, a platform where users could transact with each other without needing third-party involvement. In that email, Satoshi included a 9-page manual on what Bitcoin would be and its core fundamentals. There are four very important fundamentals:

  • It is a network that works through peer-to-peer;
  • There is no need for intermediaries;
  • Allows users to remain anonymous;
  • It uses a kind of algorithm to generate Bitcoin and prevent double spending.
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Despite this being its official creation date, the first mined block of this cryptocurrency occurred a little later, on January 3, 2009. It is worth noting that Bitcoin is finite, that is, there is a specific number determined by Satoshi that can be issued until 2140. That number is 21 million, however, with the growth of BTC, there are already over 18 million of these cryptocurrencies in circulation.

After all, how to buy Bitcoins?

After all, how to buy Bitcoins?
After all, how to buy Bitcoins?

There are many ways to buy Bitcoin. To name a few of them, we can mention cryptocurrency exchanges, ETFs and investment funds in the sector. In the case of opting for an exchange, the user will need to open a personal account and use their CPF, CNPJ, RG and date of birth to start making a minimum investment to purchase Bitcoin. This investment may depend on each exchange and each withdrawal and transfer fee will depend on the exchange you choose as well.

Cryptocurrency ETFs can be traded directly on the Stock Exchange as a share. Therefore, you need to have an account with one of the 100 brokers present in Brazil. The registration will also depend on the submission of documents and personal data. ETFs are also known as index funds and their quotas vary each month.

Finally, we can mention that there are 21 options regulated in Brazil to buy Bitcoin through investment funds that allocate resources in the cryptocurrency. As with ETFs, you need to understand and keep an eye out for fees that vary widely, including the management fee.

And what are the advantages of Bitcoin?

And what are the advantages of Bitcoin?
And what are the advantages of Bitcoin?

If you're still wondering if it's worth investing in Bitcoin, it is worth noting that there are several advantages that such a decentralized currency offers. Above all, it was the world's first cryptocurrency and, thanks to its creation, there are several altcoins available today, these being cryptocurrencies other than Bitcoin. Among the benefits that Bitcoin presents, we can mention:

  • There is enormous practicality, given that it is possible to invest in an account at a stockbroker;
  • Ease and security is key, as you don't have to worry about the security of your wallets or your private keys;
  • There is an ease of selling and buying shares in the market on a daily basis;
  • In addition, the minimum amount for each ETF share is something accessible to investors of any budget.
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Knowing about these advantages and their origins, are you ready to start investing? And you, are you interested in entering the world of Bitcoin?

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Camille Paoleschi
Camille Paoleschi

My name is Camille, I'm 19 years old and I've been writing since my childhood. I work as a content writer and am passionate about anime of various genres, cartoons and video games. I have a huge interest in idols, Vtubers and their seiyuus.

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