Bitcoin is a virtual currency that uses Blockchain technology for secure payments and storing money electronically, without requiring a bank or a person’s name. Satoshi Nakamoto created this cryptocurrency back in 2009. The biggest advantage of Bitcoin is that it’s not under control of central authority, government or private company, so people are free from paying transaction fees. It can be used for booking a hotel or flight, or purchasing products online, as many online stores and companies accept Bitcoin now.

Today, there are 1354 Bitcoin ATMs in 55 countries around the world and about 5.8 million users that have digital wallets. The price for one Bitcoin at the moment is $5,602 and it’s growing continuously, proportionally with the interest for digital money.

Take a look at this infographic that illustrates in details some interesting facts about this incredibly popular virtual currency.

 

Education feed

Editors’ Picks

EUR/USD remains sub-1.2100 after upbeat US data

US Producer Prices rose by more than anticipated, while unemployment claims shrank by more than anticipated. EUR/USD keeps trading below 1.2100 as investors eye firmer government bond yields.

EUR/USD News

GBP/USD under pressure below 1.4050 amid renewed USD demand

GBP/USD trades pressured below 1.4050, as the US dollar remains broadly bid amid risk-off sentiment. Rising inflationary pressures and Brexit jitters over NI keep investors on the edge. Bailey's speech, US data in focus.

GBP/USD News

USD/JPY: Remains confined in a range, above mid-109.00s ahead of US data

USD/JPY extended its sideways consolidative price action through the mid-European session. The set-up favours bullish traders and supports prospects for a move beyond the 110.00 mark.

USD/JPY News

Editors’ Picks

EUR/USD remains sub-1.2100 after upbeat US data

US Producer Prices rose by more than anticipated, while unemployment claims shrank by more than anticipated. EUR/USD keeps trading below 1.2100 as investors eye firmer government bond yields.

EUR/USD News

GBP/USD under pressure below 1.4050 amid renewed USD demand

GBP/USD trades pressured below 1.4050, as the US dollar remains broadly bid amid risk-off sentiment. Rising inflationary pressures and Brexit jitters over NI keep investors on the edge. Bailey's speech, US data in focus.

GBP/USD News

XAU/USD bounces off weekly lows, lacks follow-through buying

Gold consolidates the heaviest losses in six weeks, fades consolidative bounce of late. Market’s struggle for clear direction after US CPI challenged Fed, US stimulus. Wall Street benchmarks dropped over 2.0%, down for third day, but S&P 500 Futures prints 0.10% gains afterward.

Gold News

Nightmares repeat as BTC flash crashes

The recent Bitcoin price crash seen on Wednesday is comparable to the one in late April. However, unlike the last time, this drop was not due to rumors of new tax proposals. 

Read more

S&P 500 Nasdaq: PPI confirms the CPI, Fed is in bed as inflation means red

Wednesday's wake-up call to the dovish Fed was repeated with the release of PPI on Thursday. Core CPI was 0.7% versus forecasts for 0.4%. Now is buy the dip still in focus and is don't fight the Fed still the trade? 

Read more

RECOMMENDED LESSONS

7 Ways to Avoid Forex Scams

The forex industry is recently seeing more and more scams. Here are 7 ways to avoid losing your money in such scams: Forex scams are becoming frequent. Michael Greenberg reports on luxurious expenses, including a submarine bought from the money taken from forex traders. Here’s another report of a forex fraud. So, how can we avoid falling in such forex scams?

What Are the 10 Fatal Mistakes Traders Make

Trading is exciting. Trading is hard. Trading is extremely hard. Some say that it takes more than 10,000 hours to master. Others believe that trading is the way to quick riches. They might be both wrong. What is important to know that no matter how experienced you are, mistakes will be part of the trading process.

Strategy

Money Management

Psychology