What is Bitcoin? How does it work? Where are they bought?

Bitcoin is a virtual currency that was born in 2009 It is beyond the control of any government or institution Its value is variable and is based on the law of supply and demand Exchange occurs between users via P2P.


On everyone's lips, Bitcoin, the Internet currency, monopolizes praise, criticism and distrust in equal parts. With many advantages compared to traditional payment systems, Bitcoin presents, like any currency worth its salt, a somewhat darker reverse that has caused, for example, that Thailand has prohibited transactions with Bitcoin within its territory. A first step that can be expected from other nations. You can review more in detail about cryptocurrencies & Bitcoin resources list.

How much is a Bitcoin worth?

As we have indicated, the Bitcoin value is based on supply and demand, and is calculated using an algorithm that measures the amount of transactions and transactions with Bitcoin in real time.

Currently the price of Bitcoin is located, euro up or down, around 475 euros (as of February 13, 2014), although this value is not much less stable since Bitcoin is listed as the most unstable currency in the foreign exchange market .

For example, analyzing the period between August 2012 and August 2013, reached a ceiling value of 134 euros in April 2013 despite the fact that at the beginning of February its value was around only 16 euros.

In fact, its value has increased 600% in the first three months of the year 2013. Details by which many experts think that we are facing a tremendous bubble full of speculators that, sooner or later, will eventually explode.

You can check in Binance exchange to know the value of Bitcoin and other digital currencies.

Is Bitcoin legal?

The legality of Bitcoin is simple to summarize "Bitcoin is legal in that place that accept it as a means of payment in a transaction", as easy and simple. Being out of control of any institution there is a legal vacuum on it.

In addition, when dealing with anonymous and encrypted transactions between two users, they are free of any commission or tax such as, for example, VAT.