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BTC

Bitcoin Price Today - BTC Live Charts

$ 114,584.70 Ƀ 1.00000000
  • MarketCap
    $ 2,280,655,171,685
  • Volume
    $ 31,856,236,028
  • Change
    0.80%
bitcoinBitcoin
$ 114,584.70
$ 114,584.70
0.8%
98.935,71
BTC
Bitcoin (BTC)
$ 114,584.70
BTC
Bitcoin (BTC)
author
author
With 25+ years of financial marketing experience, Niki has an extensive knowledge of the forex, fintech, stocks and cryptocurrency sectors. Niki is a founder and director at the Contentworks agency.
By Niki Nikolaou
author
With 25+ years of financial marketing experience, Niki has an extensive knowledge of the forex, fintech, stocks and cryptocurrency sectors. Niki is a founder and director at the Contentworks agency.
on December 27, 2022 | 3 min
Updated on May 02, 2024

Overview: What is Bitcoin (BTC)?

Bitcoin (BTC) is a digital currency based on blockchain, a technology that relies on its network of users to verify and validate transactions in a decentralised manner. All transactions are anonymous, immutable, and traceable in the form of records in a digital ledger that is shared among all nodes on the network. This peer-to-peer cash system eliminates the need for a central controlling authority from the payments ecosystem, making it trustless.

 

How Did Bitcoin Start?

Bitcoin was introduced as a trustless system of peer-to-peer remittance to remove all third-party involvement. This means no banks or governments need to be involved even for cross-border transactions.

The genesis block of Bitcoin has the message “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” This hints at the reason for the creation of Bitcoin, which is to transfer the ownership and control of money to the owner, which fiat currency doesn’t do. Although it could be an innocent move to record the date within the first block, it puts the need for a trustless financial system into perspective.

 

What Makes Bitcoin (BTC) Unique?

To begin with, Bitcoin was the first cryptocurrency. It has characteristics in addition to the core properties that make a currency eligible to function as money:

  • There is a limited supply, with a hard cap of 21 million of coins. However, anyone can change this by submitting a BIP (Bitcoin improvement proposal) with a reason and see it through by getting 95% consensus.
  • It treats everyone equally, whether it’s an individual, a company, or a financial institution. All transactions go through the same process.
  • It is open source and global by default.
  • It ensures the anonymity of the owners.

 

How Does Bitcoin Work?

Owners store their Bitcoin in digital wallets secured with private keys that are accessible only to them. All the transactions are validated by network users called nodes and recorded on a block. Thus, the Bitcoin blockchain has a record of all transactions since its origin.

A complex algorithm determines who validates a transaction, who gets the rights to register it on a block, and who introduces a completed block to the network to append to the chain. The transacting parties pay a small amount to the validators for their service in BTC.

 

How is the Price of Bitcoin Determined?

Bitcoin gets value from its scarcity and security. There has been no breach of security on the Bitcoin blockchain since its launch.

Like any other asset, Bitcoin’s price depends on its supply and demand in the market. These are a function of the following factors:

  • Regulations, such as taxation on earnings or acceptance as a legal tender, increase people’s trust and boost crypto prices. For instance, El Salvador and the Central African Republic accepting Bitcoin as legal tender contributed significantly to market sentiment.
  • Market competition causes a pullback, as new crypto coins allow investors to diversify.
  • News of inflation could trigger Bitcoin purchases, as cryptos are considered by some as a hedge against rising prices.

 

What is Bitcoin Mining?

Bitcoin is mined to bring new coins into circulation, check counterfeiting and double-spending, and maintain the decentralised ledger.

Bitcoin miners compete to solve complex encrypted puzzles on their computer to verify blocks of transactions. They need high-speed and advanced technology to do so. The process is known as proof-of-work. The winner updates the shared ledger and earns the ‘mined’ Bitcoins as a reward. As of now, 6.25 coins are mined per block added. This number is halved every 4 years. The next halving is scheduled for 2024, which will reduce the mining reward to 3.125 coins.

 

Where Can You Buy Bitcoin (BTC)?

If you are interested in owning Bitcoins, you can get them by:

  • Crypto Mining
  • Accepting it as payment for goods or services provided
  • Purchasing from a crypto exchange

For all three, you need a digital crypto wallet to address the transactions. Although mining is exciting, it involves huge expenditure in terms of technology infrastructure. A more accessible approach might be to register on a trusted cryptocurrency exchange and buy Bitcoin in exchange for fiat. The good news is that you can buy Bitcoin in fractions, one is comprised of 100 million Satoshis! The higher splitting capability is a key benefit of cryptos being digital and not physical money.

author
About Niki Nikolaou
With 25+ years of financial marketing experience, Niki has an extensive knowledge of the forex, fintech, stocks and cryptocurrency sectors. Niki is a founder and director at the Contentworks agency.
osmosis-allethOsmosis allETH
$ 3,658.83
$ 3,658.83
1.87%
ethereumEthereum
$ 3,659.44
$ 3,659.44
1.86%
bridged-wrapped-ether-starkgateBridged Ether (StarkGate)
$ 3,660.63
$ 3,660.63
1.99%
the-ticker-is-ethThe Ticker Is ETH
$ 0.000062
$ 0.000062
1.81%
bob-network-bridged-usdt-bob-networkBOB Network Bridged USDT (BOB Network)
$ 1.00
$ 1.00
0.2%
kucoin-bridged-usdt-kucoin-community-chainKCC Bridged USDT (Kucoin Community Chain)
$ 1.00
$ 1.00
0.67%
bridged-tether-lineaBridged Tether (Linea)
$ 1.00
$ 1.00
0.05%
osmosis-allusdtOsmosis allUSDT
$ 0.998495
$ 0.998495
0.16%
bridged-tether-scrollBridged Tether (Scroll)
$ 0.999837
$ 0.999837
0.06%
redbelly-bridged-usdt-redbellyRedbelly Bridged USDT (Redbelly)
$ 1.00
$ 1.00
0.02%
tether-pulsechainBridged Tether (PulseChain)
$ 0.996479
$ 0.996479
0.18%
zircuit-bridged-usdt-zircuitZircuit Bridged USDT (Zircuit)
$ 1.00
$ 1.00
0.02%
lisk-bridged-usdtLisk Bridged USDT (Lisk)
$ 1.00
$ 1.00
0.03%
stargate-bridged-usdt-plumeStargate Bridged USDT (Plume)
$ 0.999783
$ 0.999783
0.02%
thundercore-bridged-usdt-thundercoreThundercore Bridged USDT (Thundercore)
$ 0.99976
$ 0.99976
0.26%
bridged-tether-starkgateBridged Tether (StarkGate)
$ 1.00
$ 1.00
0.01%
bridged-usdt-coreBridged USDT (Core)
$ 1.00
$ 1.00
0.55%
mode-bridged-usdt-modeMode Bridged USDT (Mode)
$ 0.998993
$ 0.998993
0.21%
edu-chain-bridged-usdt-edu-chainEDU Chain Bridged USDT (EDU Chain)
$ 1.00
$ 1.00
0.2%
celer-bridged-usdt-confluxCeler Bridged USDT (Conflux)
$ 1.00
$ 1.00
0.02%
symbiosis-bridged-usdt-bahamutSymbiosis Bridged USDT (Bahamut)
$ 1.00
$ 1.00
0%
soneium-bridged-usdt-soneiumSoneium Bridged USDT (Soneium)
$ 0.999077
$ 0.999077
0.25%
units-network-bridged-usdt-units-networkUnit0 Network Bridged USDT (Unit0 Network)
$ 1.00
$ 1.00
0.02%
ibc-bridged-usdtIBC Bridged USDT
$ 0.998905
$ 0.998905
0.02%
gnosis-xdai-bridged-usdt-gnosisGnosis xDai Bridged USDT (Gnosis)
$ 1.00
$ 1.00
0.28%
morph-l2-bridged-usdt-morph-l2Morph L2 Bridged USDT (Morph L2)
$ 1.00
$ 1.00
0.03%
kaia-bridged-usdt-kaiaKaia Bridged USDT (Kaia)
$ 0.998767
$ 0.998767
0.28%
layerzero-bridged-usdt-etherlinkBridged USDT (Etherlink)
$ 0.999631
$ 0.999631
0%
sophon-bridged-usdt-sophonSophon Bridged USDT (Sophon)
$ 1.00
$ 1.00
0.1%
tetherTether
$ 1.00
$ 1.00
0.02%
polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon)
$ 1.00
$ 1.00
0.03%
sonic-bridged-usdt-sonicSonic Bridged USDT (Sonic)
$ 0.999966
$ 0.999966
0%
mantle-bridged-usdt-mantleMantle Bridged USDT (Mantle)
$ 1.00
$ 1.00
0.33%
duckchain-bridged-usdt-duckchainDuckChain Bridged USDT (DuckChain)
$ 1.36
$ 1.36
0%
beam-bridged-usdt-beamBeam Bridged USDT (Beam)
$ 0.999861
$ 0.999861
0.09%
polygon-hermez-bridged-usdt-polygon-zkevmPolygon Hermez Bridged USDT (Polygon zkEVM)
$ 1.00
$ 1.00
0.02%
stargate-bridged-usdt-flare-networkStargate Bridged USDT (Flare Network)
$ 0.996143
$ 0.996143
0.3%
abstract-bridged-usdt-abstractAbstract Bridged USDT (Abstract)
$ 1.00
$ 1.00
0.18%
stargate-bridged-usdc-iota-evmStargate Bridged USDT (Iota EVM)
$ 1.00
$ 1.00
0.02%
cronos-bridged-usdt-cronosCronos Bridged USDT (Cronos)
$ 1.00
$ 1.00
0.11%
bridged-tether-opbnbBridged Tether (opBNB)
$ 1.00
$ 1.00
0.25%
unichain-bridged-usdt-unichainUnichain Bridged USDT (Unichain)
$ 0.998297
$ 0.998297
0.1%
bridged-tether-fuseBridged Tether (Fuse)
$ 1.00
$ 1.00
0.02%
pundi-aifx-omnilayer-bridged-usdt-pundi-aidx-omnilayerPundi AIFX Omnilayer Bridged USDT (Pundi AIFX Omnilayer)
$ 1.00
$ 1.00
0.02%
stargate-bridged-usdt-fuseStargate Bridged USDT (Fuse)
$ 0.99821
$ 0.99821
0.05%
polygon-hermez-bridged-usdt-x-layerPolygon Hermez Bridged USDT (x Layer)
$ 1.00
$ 1.00
0.02%
tac-bridged-usdt-tacTAC Bridged USDT (TAC)
$ 0.995876
$ 0.995876
0.43%
l2-standard-bridged-usdt-baseL2 Standard Bridged USDT (Base)
$ 0.999767
$ 0.999767
0.02%
shimmerbridge-bridged-usdt-shimmerevmShimmerBridge Bridged USDT (ShimmerEVM)
$ 1.00
$ 1.00
0.02%
bridged-usdt-immutable-zkevmImmutable Toolkit Bridged USDT (Immutable zkEVM)
$ 0.996515
$ 0.996515
0.63%
nova-tether-usdNova Merged USDT (zkLink)
$ 1.00
$ 1.00
0%
viction-bridged-usdtViction Bridged USDT
$ 1.00
$ 1.00
0.02%
taraxa-bridged-usdt-taraxaTaraxa Bridged USDT (Taraxa)
$ 1.01
$ 1.01
0.91%
areon-bridged-usdt-areon-networkAreon Bridged USDT (Areon Network)
$ 0.993237
$ 0.993237
0.48%
larissa-bridged-usdt-larissaLarissa Bridged USDT (Larissa)
$ 1.00
$ 1.00
0%
celer-bridged-usdc-confluxCeler Bridged USDC (Conflux)
$ 1.00
$ 1.00
0.13%
beam-bridged-usdc-beamBeam Bridged USDC (Beam)
$ 1.01
$ 1.01
0.76%
synapse-bridged-usdc-elastosSynapse Bridged USDC (Elastos)
$ 0.989204
$ 0.989204
0.43%
multichain-bridged-usdc-fantomMultichain Bridged USDC (Fantom)
$ 0.052054
$ 0.052054
12.8%
wormhole-bridged-usdc-fantomWormhole Bridged USDC (Fantom)
$ 0.709409
$ 0.709409
7.77%
bifrost-bridged-usdc-bifrostBifrost Bridged USDC (Bifrost)
$ 0.999973
$ 0.999973
0%
initia-bridged-usdc-initiaInitia Bridged USDC (Initia)
$ 0.999968
$ 0.999968
0%
eclipse-bridged-usdc-eclipseEclipse Bridged USDC (Eclipse)
$ 1.01
$ 1.01
1.33%
multichain-bridged-usdc-kavaMultichain Bridged USDC (Kava)
$ 0.999976
$ 0.999976
0%
harmony-horizen-bridged-usdc-harmonyHarmony Horizen Bridged USDC (Harmony)
$ 0.214754
$ 0.214754
0.99%
morph-l2-bridged-usdc-morph-l2Morph L2 Bridged USDC (Morph L2)
$ 0.994938
$ 0.994938
1.04%
symbiosis-bridged-usdc-bahamutSymbiosis Bridged USDC (Bahamut)
$ 0.999984
$ 0.999984
0%
wanchain-bridged-usdc-cardanoWanchain Bridged USDC (Cardano)
$ 1.01
$ 1.01
0.68%
bridged-usdc-immutable-zkevmBridged USDC (Immutable zkEVM)
$ 0.995629
$ 0.995629
0.72%
meter-passport-bridged-usdc-meterMeter Passport Bridged USDC (Meter)
$ 1.01
$ 1.01
8.05%
sophon-bridged-usdc-sophonSophon Bridged USDC (Sophon)
$ 0.999971
$ 0.999971
0%
celer-bridged-usdc-astarCeler Bridged USDC (Astar)
$ 0.99997
$ 0.99997
0%
rainbow-bridged-usdc-auroraRainbow Bridged USDC (Aurora)
$ 0.999257
$ 0.999257
0.54%
cronos-zkevm-bridged-usdc-cronos-zkevmCronos zkEVM Bridged USDC (Cronos zkEVM)
$ 0.999973
$ 0.999973
0%
bridged-usd-coin-manta-pacificBridged USD Coin (Manta Pacific)
$ 1.00
$ 1.00
0.15%
official-arbitrum-bridged-usdc-arbitrum-novaArbitrum Bridged USDC (Arbitrum Nova)
$ 1.00
$ 1.00
0.8%
force-bridge-usdcBridged USD Coin (Force Bridge)
$ 1.05
$ 1.05
0%
usd-coinUSDC
$ 0.999994
$ 0.999994
0.01%
kucoin-bridged-usdc-kucoin-community-chainKucoin Bridged USDC (KuCoin Community Chain)
$ 0.981092
$ 0.981092
0.11%
bridged-usdc-coreBridged USDC (Core)
$ 1.00
$ 1.00
0.58%
fraxtal-bridged-usdc-fraxtalFraxtal Bridged USDC (Fraxtal)
$ 1.00
$ 1.00
0.01%
ima-bridged-usdc-skaleSkale IMA Bridged USDC (Skale)
$ 1.00
$ 1.00
0.01%
binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain)
$ 0.999989
$ 0.999989
0.06%
polygon-hermez-bridged-usdc-polygon-zkevmPolygon Hermez Bridged USDC (Polygon zkEVM)
$ 1.00
$ 1.00
0.09%
mode-bridged-usdc-modeMode Bridged USDC (Mode)
$ 0.999973
$ 0.999973
0%
taiko-bridged-usdc-taikoTaiko Bridged USDC (Taiko)
$ 0.999605
$ 0.999605
0.34%
most-bridged-usdc-aleph-zeroMost Bridged USDC (Aleph Zero)
$ 0.997783
$ 0.997783
0.71%
cronos-bridged-usdc-cronosCronos Bridged USDC (Cronos)
$ 1.00
$ 1.00
0.01%
mantle-bridged-usdc-mantleMantle Bridged USDC (Mantle)
$ 1.00
$ 1.00
0.46%
thundercore-bridged-usdc-thundercoreThundercore Bridged USDC (Thundercore)
$ 1.00
$ 1.00
0.01%
nova-usdcNova Merged USDC (zkLink)
$ 1.00
$ 1.00
0%
edu-chain-bridged-usdc-edu-chainEDU Chain Bridged USDC (EDU Chain)
$ 1.00
$ 1.00
0.01%
bridged-usdc-chainportBridged USDC (Chainport)
$ 1.00
$ 1.00
0.01%
nomad-bridged-usdc-moonbeamNomad Bridged USDC (Moonbeam)
$ 0.057951
$ 0.057951
2.99%
bridged-usd-coin-starkgateBridged USD Coin (StarkGate)
$ 1.00
$ 1.00
0%
zksync-bridged-usdc-zksynczkSync Bridged USDC (zkSync)
$ 0.999973
$ 0.999973
0%
bridged-usd-coin-lineaBridged USD Coin (Linea)
$ 0.999672
$ 0.999672
0.1%
bridged-usd-coin-scrollBridged USD Coin (Scroll)
$ 1.00
$ 1.00
0.15%
gnosis-xdai-bridged-usdc-gnosisGnosis xDAI Bridged USDC (Gnosis)
$ 0.998265
$ 0.998265
0.02%
usd-coin-pulsechainBridged USD Coin (PulseChain)
$ 1.00
$ 1.00
0.97%
shido-bridged-usdcShido Bridged USDC
$ 0.938809
$ 0.938809
0.69%
layerzero-bridged-usdc-etherlinkBridged USDC (Etherlink)
$ 0.999826
$ 0.999826
0.02%
rss3-bridged-usdc-rss3RSS3 Bridged USDC (RSS3)
$ 1.03
$ 1.03
2.08%
multichain-bridged-usdc-moonbeamMultichain Bridged USDC (Moonbeam)
$ 0.058255
$ 0.058255
5.28%
q-bridged-usdc-q-mainnetQ Bridged USDC (Q Mainnet)
$ 0.993481
$ 0.993481
0%
celer-bridged-usdc-oasysCeler Bridged USDC (Oasys)
$ 0.971957
$ 0.971957
0%
sanko-bridged-usdc-sankoSanko Bridged USDC (Sanko)
$ 1.03
$ 1.03
0.04%
multichain-bridged-usdc-kardiachainMultichain Bridged USDC (KardiaChain)
$ 0.289338
$ 0.289338
0%
energi-bridged-usdc-energiEnergi Bridged USDC (Energi)
$ 0.999972
$ 0.999972
0.01%
multichain-bridged-usdc-dogechainMultichain Bridged USDC (Dogechain)
$ 0.082195
$ 0.082195
2.22%
hydra-bridged-usdc-hydraHydra Bridged USDC (Hydra)
$ 0.999972
$ 0.999972
0.01%
laika-bridged-usdc-laikaLaika Bridged USDC (Laika)
$ 0.999972
$ 0.999972
0.01%
cardanoCardano
$ 0.736482
$ 0.736482
2.55%
binance-peg-busdBinance-Peg BUSD
$ 0.999836
$ 0.999836
0.02%
binance-usdBUSD
$ 1.01
$ 1.01
1.15%