Millions choose OVEX to buy Bitcoin.
What is Bitcoin (BTC)?
Bitcoin is a digital currency which operates free of any central control or oversight from banks or governments. Instead it relies on peer-to-peer software and cryptography.
The Bitcoin whitepaper was the genesis of the crypto-market as we know it today. In late 2008 and coinciding with the unravelling of the Global Financial Crisis(GFC), Satoshi Nakamoto (an anonymous programmer), presented his whitepaper entitled “Bitcoin: a Peer-to-Peer Electronic Cash System” to a small community of cypherpunks and libertarians. This marked the first step towards the creation of an asset unlike anything seen before.
The Bitcoin network breathed life for the very first time when Nakamoto mined the first block of the chain, known as the genesis block. Embedded in the coinbase of this block was a controversial piece of text that read: "The Times 03 Jan 2009 Chancellor on brink of second bailout for banks". A reference to a broken system that resulted in the global financial crisis.
A year after the first Bitcoin transaction took place, the first real world purchase with Bitcoin occurred by a programmer called Laszlo, who bought two pizzas for 10 000 BTC. This occured on 22 May 2010 and has henceforth become known as “World Pizza Day”.
Fast-forward 14 years and Bitcoin is now in the top 10 assets by market cap in the world! What was worth two pizzas at the time would be +$620 million dollars in today's money. The decentralised nature of Bitcoin, coupled with its limited supply, make it resistant to both interference and manipulation - something prized by investors globally.
Bitcoin in its purest form is digital money that allows for secure peer-to-peer transactions on the internet. The legacy cryptocurrency has not only revolutionised digital money but also gained traction as a potential store of value and hedge against inflation.
Here's why:
Limited Supply: Unlike traditional currencies with potentially infinite supply, Bitcoin has a predetermined maximum supply of 21 million coins. This scarcity contributes to its value proposition as a long-term store of value. As demand potentially increases over time with a fixed supply, the value of Bitcoin could theoretically rise.
Decentralization: Bitcoin operates without a central authority, meaning governments or central banks cannot manipulate the money supply through inflation. This characteristic makes Bitcoin attractive to those seeking protection against inflation caused by excessive money printing by central institutions.
Historical Performance: While Bitcoin experiences significant price fluctuations, its long-term price trajectory has shown significant growth - outperforming traditional assets like gold in certain periods.
This historical performance suggests some potential as a store of value and hedge against inflation over extended timeframes.
How to Buy Bitcoin (BTC):
STEP 1: Create your free OVEX account
Create and verify your OVEX account in minutes.
STEP 2: Connect a funding method
Fund your account with your local currency.
STEP 3: Complete your Bitcoin purchase
Buy Bitcoin with as little as $10.
STEP 4: Store or use your Bitcoin on OVEX
Now that you have bought Bitcoin you can store it in your OVEX wallet indefinitely. Alternatively you can trade it for a plethora of other currencies available on the OVEX exchange.