The world believed for hundreds of years that centralization was the only way to solve various financial & social problems. However, it witnessed the power of decentralization when the world was going through a recession in the first decade of the 21st century.
The recession hit the world after big financial institutions like Lehman Brothers, and others in the US started collapsing and the world entered a recession cycle in 2008. During the same time, an anonymous developer, Satoshi Nakamoto was working on a solution that would change the world.
An individual developer or a group of individuals, Nakamoto launched Bitcoin (BTC) in 2009, the world’s first decentralized digital currency with an aim to make it a peer-to-peer payment system that would be controlled and operated by its users and would not require any third party to verify any transactions.
In its eight-page whitepaper, Nakamoto wrote that Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions. It is an open-source platform that is designed for the public and nobody owns or controls it. Every Bitcoin holder can take part of it.
It has been developed to become an alternative to the current financial system, as it is limited in supply, against fiat currencies that are unlimited.
Even since its launch, Bitcoin has been touching new heights and its adoption is only increasing. It is the only cryptocurrency that is driving the trillion crypto industry.
Known as the mother of crypto, Bitcoin even today commands close to half of the crypto sector with over $597 billion or 46.8% in market capitalization of the $1.27 trillion.
Even with over 19,750 various crypto projects live, the majority of crypto holders want to own Bitcoin in their wallets.
As of 17 June 2022, one BTC can be bought at $20,682. However, users can purchase fractions of BTC, as it can be divided into 100 millionths, making it possible for every citizen on this earth to own something of BTC.
Nakamoto designed it in such a way that 21 million BTC would be enough for the world population.
With over 13 years of its existence, BTC is the only power driving crypto growth globally. Let me explain it.
Bitcoin is a trunk of a tree, while other crypto projects are its branches. Branches can be cut, but if you cut the trunk, the whole tree collapses. So, Bitcoin is a trunk that drives crypto and also provides financial freedom, which the traditional financial system lacks.
The number of addresses holding at least one Bitcoin has reached a new all-time high of 848,939. While there are many institutional investors that are also holding close to a million BTC. Some crypto experts believe that even Satoshi Nakamoto holds one million BTC with him, while some might own a few hundred in their personal cold wallets that are kept safe.
Bitcoin was founded by Satoshi Nakamoto, an individual, or a group of individuals. Though the work started in 2008, it was released on 9 January 2009.
Bitcoin uses a proof-of-work (PoW) mechanism, which has now become very energy-centric, but it was not so when it was launched. If you want to own a Bitcoin for free, you need to mine it. Now, it is very expensive to mine even a fraction of Bitcoin. So the best option is to buy it on crypto exchanges.
Unique features of Bitcoin
Value: It is the scarcest money the world has ever seen with only 21 million BTC being issued.
Portable: Bitcoin is the most portable money ever invented, as one can store any value of Bitcoin in their wallet or USB drive. Users just need to memorize a seed phrase of random words that is the key to accessing their BTC wallet.
Acceptance: Bitcoin is a borderless and permissionless digital currency that has no central authority or government and can be used by anyone. People using it can also be anonymous while making or accepting payments with BTC.
Uniformity: All Bitcoins have the same value and are 100% verifiable on their blockchain through code. Anyone with the transaction’s hash can verify any transactions on the blockchain. It also solves the double-spend problem and till today, no one has been able to fake it.
BTC is the number one crypto project in the market today with a market capitalization of over $394 billion and BTC token trading at $20,682 with a 24 hours trading volume of $32 billion, as of 17 June 2022, as per CoinMarketCap.com.
BTC touched its new high on 8 November 2021 when it reached $67,566 per token with a 24 hours trading volume of $42.13 billion. With a maximum and total supply of 21 million BTC tokens, so far over 19.05 million BTC tokens are under circulation.
Trade BTC on Klever Exchange
Once you have decided to trade BTC on Klever Exchange, the user needs to first deposit crypto to their account.
Log into your Klever Exchange account
Click on deposit
Select the crypto you want to deposit in your exchange account
Copy the address and you can send the BTC right away.
If users don’t have the tokens, they can buy them from Klever Wallet with debit & credit cards. Klever Wallet is available on Google Play Store & Apple Store. Payments are processed through Simplex.com, a payment service provider which allows banking channels to buy crypto. Klever had added four more payment gateways that included Mercuryo, MoonPay, Transak, and Banxa.
Once you have your crypto, you are now ready to deposit it to your exchange account.
If you bought USDT, you can exchange it for BTC and complete the trade. Users can also exchange KLV with BTC. You can also use the Swap service to exchange your USDT for BTC on the wallet.
These are the current available pairs containing BTC on Klever Exchange:
Trading BTC also has other benefits as every transaction has a unique transaction hash within the block and this can be used to check whether your trade for BTC was executed.
Klever Exchange also offers 24X7 customer support, where users can raise a ticket if there are any problems they face during trading the pairs.
With crypto adoption growing and BTC becoming scarce, holding some BTC can be a good decision. What are you waiting for, take a dip in the crypto market before BTC goes out of your reach?
Trade-in crypto Kleverly!