What is a Bitcoin?

Bitcoin (BTC) is the first type of cryptocurrency invented in 2008 by Satoshi Nakamoto, a person (or organisation) whose identity remained anonymous till date. 

As a form of decentralised digital currency based on the blockchain technology, it offers peer-to-peer (P2P) transaction without the need for a central party. 

How are Bitcoins created? 

Although bitcoin is a type of digital currency, you can’t just magically pluck them out from thin air!

Bitcoins have to be mined

No, not this. 

Yes, this. 

Remember blockchain?

Each block (containing users’ transaction) comes with a super-duper difficult mathematics problem.

Computers are needed to solve these complex problems so that the blocks can be verified and added to the blockchain. 

If the problem is solved, a fixed amount of bitcoins (currently 12.5BTC) will be produced and given to the first who solved it. 

This process is hence called mining.

The people who operate the computers are called miners

But! You can’t mine Bitcoins forever! 

The limit is capped at 21 million. At the time of writing, more than 18 million bitcoins have been mined (18,010,000, to be exact). The last bitcoin is estimated to be mined by the year 2140

How much is Bitcoin worth?

The price of bitcoin started at 0.003 USD/BTC but soon rose to $770 in January 2014, followed by its all-time high of $19,783.06 in December 2017.

The price, however, soon dropped to $6,914 in February 2018, and it is now around $7,429.29 at the time of writing. Although bitcoin price is still relatively volatile, its large user base and value still makes it one of the most valuable cryptocurrencies out there. 

What can I use bitcoins for?

With the increased popularity and value of bitcoins, more and more industries started to accept bitcoins as a mode of payment! 

You can use it to buy food, travel, for online shopping, charities and more! 

Click here and here to discover places that accept bitcoin payment near you! 

Apparently, the Funan Kopitiam in Singapore is accepting cryptocurrencies as a form of payment!

How can I get Bitcoins (or any cryptocurrencies)?

There are 2 ways to buy cryptocurrencies – fiat to crypto, and crypto to crypto

  • If you have zero cryptocurrencies now, the easiest way is to buy some crypto with fiat currency (cold, hard cash).
  • If you have some cryptocurrencies (e.g. Bitcoins), and you want to get another type of cryptocurrency (e.g. Ethereum), you can either get it with fiat currency or trade with Bitcoins directly

Where can  I get Bitcoins (or any type of cryptos)?

You can either get cryptocurrencies on their individual platform, on cryptocurrency exchanges!

There are many exchanges out there, but one awesome, stable, and reliable exchange is, of course, DigiFinex !!!


We are a world’s leading digital asset platform that is consistently ranked top 10 exchanges on coinmarketcap

As a stable and secure platform with more than 3 million registered users, you can buy, sell, and trade 200+ cryptocurrencies 24/7 with low trading fees!! 

Alternatively, here are some interesting places that sells bitcoins (and others):

You can share this post on

Share on facebook
Share on twitter
Share on telegram
Share on whatsapp
Share on reddit
Share on linkedin
Reletad Post

Polkadot, the King of Cross-chain Explained

What is Polkadot? Polkadot is a heterogeneous blockchain founded by Gavin Wood, former CTO of Ethereum, is an impeccable blockchain project that is perfect in every sense. Its founder, Gavin Wood, is the author of the Ethereum White Paper and the person who knows the defects of Ethereum at heart. Polkadot was founded with the idea to solve Ethereum’s shortcomings and replace it as the “King of the Public Chain”. Read to find out more!

Fil Mooned Right Away After I Sold It. Am I One of the Weak Hands?

“Fil mooned right away after I sold it. I am the weakest hand in the crypto world.” said one of my friend who has been trading cryptocurrency for many years. He is a user during the public sale and bought FIL at the price of $2. After the FIL is unlocked, he sells coins wildly every day. But even so, he still hates the slow process of unlocking, so he directly sold all the publicly purchased Fil at the price of dozens of dollars.

What is EIP-1559? How will it affect Everyday Users? Will it Pump Up ETH Price?

What is EIP-1559? How will it affect Everyday Users? Will it Pump Up ETH Price? The EIP-1559 we will be talking about in this article is an example of Ethereum improvement proposal. This proposal was first put forward in November 2018 by Eric Conner, an ETH developer. It aims to reform the GAS fee bidding system of ETH, so to reduce the cost for users to transfer money on ETH.

DigiFinex AMA Recap | CRS, Digital Assets For The Fans

Hello everyone! Welcome to our 14th episode of DigiFinex AMA. In today’s AMA, we have invited the executive team of Crypto Rewards Studio (CRS), to share with us how CRS has created a cryptocurrency that allows users to enjoy music events or get to learn more about artists through their exclusive token. Let’s hear about their big plan!

%d bloggers like this: