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What is Bitcoin (BTC)?

Bitcoin basic info

Name:Bitcoin

Ticker:

BTCBuy now

Introduction:

Welcome to Bitget - the world’s fastest growing crypto derivatives trading platform.

Bitcoin is one of the hot new investments nowadays. We all see the potential and risk of Bitcoin. So, how to buy and store Bitcoin safely and effectively is critical to all crypto investors.

Before investing your hard-earned money in Bitcoin, you may read the following article, which is a simple and complete guide for crypto investors on how to buy and store crypto in a safe way.

Contents

How to buy Bitcoin?
What are the Safest Ways to Store Bitcoin?
How to send, receive and exchange Bitcoin?
How to convert Bitcoin to Fiat Currency?

How to buy Bitcoin?

Buy Bitcoin withCredit Card, Apple Pay Google Pay on Bitget

You can directly purchase Bitcoin with credit card, Apple Pay and Google Pay on Bitget. It is a simple and direct way for new crypto investors to buy Bitcoin using Visa, MasterCard or your smartphone.

Don’t have an account on Bitget yet? Register a Bitget account now. Introduction image 0

Trade Bitcoin

Bitget supports the deposit of more than 200 cryptocurrencies, including Bitcoin and Ether. You can first deposit in your Bitget account. Then, you can exchange for Bitcoin at the rate you desire on the market. Introduction image 1

Purchase Bitcoin Directly

You can purchase Bitcoin directly from another individual in person or over the web in your own way. Register and you may buy Bitcoin from the user of Bitget directly.

What are the Safest Ways to Store Bitcoin?

As no intermediate like banks to manage or protect your Bitcoin, you are responsible for the storage as an owner.

There are several options for storing cryptocurrency like Bitcoin. Once you know more about each storage method, you can choose the way that will guarantee the safety of your Bitcoin.

Ways to Store Bitcoin

	Cold Storage	Hot Wallet	Custodial Wallet (like your Bitget’s wallet)	Paper Wallet
How it works	Hardware that stores crypto offline	Application that stores crypto online	Another party, such as a crypto exchange, stores your cryptocurrency	Physical storage of private crypto keys
Benefits	Highest level of security	Convenience and ease of use	Simplest option and most convenient.	Free way to store crypto offline
Risk	Cost of device and inconvenience	Security risk of storing crypto online	Security risk of the another party	Inconvenience and risk of losing wallet
Average cost	$50 to $150	Free	Free	Free

Many investors hold on to their Bitcoin for long term investment. Bitcoin can be stored safely on the Bitget wallet, which is the industry-leading and trusted security on risk controlling, backed by Suntwin Technology, Qingsong Cloud Security, HEAP, and Armors. You may register on Bitget and start owning a Bitcoin wallet. Introduction image 2

Cold Storage

A cold wallet is an offline crypto wallet.The most common type of cold wallet is a hardware wallet.

Hardware wallets are small devices that connect to your computer and store cryptocurrency. They connect to the internet when sending and receiving cryptocurrency.

Each hardware wallet has a recovery phrase. This phrase allows you to recover your coins even if you lose the device itself. It's important to keep this safe because anyone who has it could take all your coins.

While your crypto is offline, it can't be stolen by hackers. That’s why it enjoys the highest level of security.

Hot Wallet

A hot wallet is an application that stores cryptocurrencies online. It can be a desktop or mobile app.

Like hardware wallets, hot wallets come with a recovery phrase. You can use this phrase to get your crypto back if you ever lose access to the hot wallet.

Even compared to a cold wallet, a hot wallet is more simple and convenient. However, hot wallets are facing the risk of being hacked.

Paper Wallet

Paper wallet is a kind of cold storage. It is available as a printout of public and private keys, usually as both a string of characters or scannable QR codes.

The public key acts as an address for the wallet that can be deposited in cryptocurrency. The private key acts as the password of the wallet that can prove your ownership of the wallet. You are free to share the public key with other people for deposit, while the private key should be kept secret.

The security of paper wallets acts the same as cold wallets and it's free. But if you don't back up the private key and lose it, you can no longer access your bitcoin wallet unless you figure out what your private key is.

How to send, receive and exchange Bitcoin?

If you want to transfer assets between two accounts in Bitget, please follow the instructions below:

Log in to Bitget account
Click Assets
Click Withdraw
Click Internal Funds Transfer
Enter Phone Number/Email/UID
Enter Amount
Submit and then transfer completed

Here is the tutorial video of trading on Bitget. It is a simple and secure way for new crypto investors to invest in Bitcoin.

4. How to convert Bitcoin to Fiat Currency on Bitget?

Introduction image 3

First, Log in to the Bitget account and select the fiat currency you want. Then, you can enter the amount and choose the crypto you want to trade out.

After that, you select a third-party service provider and payment method, click on the button.

Finally, please verify your identity information and complete the payment on Bitget and third-party service provider websites. After the transaction is completed, you can view the transaction record and the order details on the third-party service provider website.

Start purchasing Bitcoin with credit card, Apple Pay and Google Pay on Bitget now.

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Current price:

$93,924.88More price details

All-time high:$108,268.45

All-time low:$0.04865

BTC supply and tokenomics

Circulating supply:19,803,692 BTC

Total supply:19,803,693 BTC

Max supply:21,000,000 BTC

Market cap:$1.86T

Fully diluted market cap:$1.97T

Tokenomics:

Uniqueness

Bitcoin’s most unique advantage comes from the fact that it was the very first cryptocurrency to appear on the market.

It has managed to create a global community and give birth to an entirely new industry of millions of enthusiasts who create, invest in, trade and use Bitcoin and other cryptocurrencies in their everyday lives. The emergence of the first cryptocurrency has created a conceptual and technological basis that subsequently inspired the development of thousands of competing projects.

The entire cryptocurrency market — now worth more than $2 trillion — is based on the idea realized by Bitcoin: money that can be sent and received by anyone, anywhere in the world without reliance on trusted intermediaries, such as banks and financial services companies.

Thanks to its pioneering nature, BTC remains at the top of this energetic market after over a decade of existence. Even after Bitcoin has lost its undisputed dominance, it remains the largest cryptocurrency , with a market capitalization that surpassed the $1 trillion mark in 2021, after Bitcoin price hit an all-time high of $64,863.10 on April 14, 2021. This is owing in large part to growing institutional interest in Bitcoin, and the ubiquitousness of platforms that provide use-cases for BTC: wallets , exchanges, payment services, online games and more.

Token utility

$BTC is used as a native currency within the Bitcoin network. $BTC can be used for peer-to-peer payments and value storage within the Bitcoin network. $BTC is also used to pay fees for transactions. Throughout its life, $BTC has most notably served as a digital currency for online marketplaces, a settlement layer for transferring value between Bitcoin exchanges, a capital-raising mechanism for novel cryptocurrency projects, a collateral asset for lending products, and a speculative store of value.

Consensus Mechanism

Bitcoin release tokens to incentivize miners for validating transactions. This process is called proof-of-work (PoW). Miners have to use their computing power to mine new blocks and add them to the blockchain. One $BTC typically takes around 10 minutes to create, although this is only true for strong processors.

Links

Website:https://bitcoin.org/

Whitepaper:https://bitcoin.org/bitcoin.pdf

GitHub:https://github.com/bitcoin/bitcoin

Buy Bitcoin for $1Buy BTC now

What is the development prospect and future value of BTC?

The market value of BTC currently stands at $1.86T, and its market ranking is #1. The value of BTC is widely recognized by the market. When the bull market comes, the market value of BTC will likely continue to increase.

Moreover, if BTC can play a greater role in practical applications, such as Bitcoin builders fully leveraging the potential of BTC, partnering with more businesses, and increasing its user base, the long-term value of BTC will be significantly enhanced.

What will the price of BTC be in 2025?

Based on BTC's historical price performance prediction model, the price of BTC is projected to reach $188,323.98 in 2025.

What will the price of BTC be in 2030?

In 2030, the BTC price is expected to change by -13.80%. By the end of 2030, the BTC price is projected to reach $299,325.54, with a cumulative ROI of +217.10%.

Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of BTC and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

BTC price BTC price prediction BTC news

Is BTC worth investing or holding? How to buy BTC from a crypto exchange?

If you want to buy BTC, the following information may be helpful for your investment decisions:

In the last 7 days, the price of BTC has fallen by -0.20%, leading to negative returns for most BTC investors. The market is currently pessimistic about the price trend of BTC.

It is important to note that the current price of BTC has retreated by -13.25% from its all-time high. This coin is currently considered medium-risk, and its price may rebound or continue to fall.

Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.

To decide whether BTC is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.

Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in BTC or any cryptocurrency comes with certain risks and uncertainties.

Regardless of your outlook on the development prospects and future trends of BTC, if you want to buy or sell BTC, you can consider Bitget for your trading needs. The best place to buy BTC is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.

Investing in Bitcoin has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Bitcoin. Here's a step-by-step guide on how to buy Bitcoin on Bitget.

Buy BTC now Coin buying guide

How to get Bitcoin through other methods？

Using cash to buy Bitcoin is not the only way to obtain Bitcoin. If you have the time to spare, you can get Bitcoin for free.

Learn how to earn Bitcoin for free through the Learn2Earn promotion.

Earn free Bitcoin by inviting friends to join Bitget's Assist2Earn promotion.

Receive free Bitcoin airdrops by joining ongoing challenges and promotions.

All crypto airdrops and rewards can be converted to Bitcoin through Bitget Convert, Bitget Swap, or spot trading.

What is Bitcoin used for and how to use Bitcoin?

The use case of Bitcoin may expand as the crypto market and the project itself develop. Currently, you can use BTC to achieve the following goals:

Arbitrage by trading BTC: Since BTC is a frequently traded cryptocurrency, the price of BTC is always fluctuating. Earn more BTC by buying low and selling high on the exchange. Bitget spot market provides a variety of BTC trading pairs to fully meet your needs.

Earn by staking BTC: You can also generate income through financial management methods such as staking BTC or lending BTC. Bitget Earn offers a variety of financial products designed to help you earn more income from your BTC.

Send or pay BTC: If you want to give BTC to your friends, a charity, or a fundraiser, or you want to pay someone with BTC, you can quickly and easily send BTC to the recipient through their payment address.

You can also go to the official website of the Bitcoin project to learn more about the use cases of BTC. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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