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Bitcoin
The Cryptocurrency bubble all kicked off with the creation of Bitcoin in 2009. This now remains to be the most valuable and the most traded cryptocurrency. Bitcoin is a decentralised currency which is why it is massively favoured due to it not being regulated like other payment methods (this could change in the next few years). There is no central bank, transactions are verified by nodes in the network and then stored in the public ledger called a blockchain. The creator of Bitcoin remains to be anonymous but goes under the name, 'Satoshi Nakamoto', it all started when Nakamoto shared a whitepaper online describing the creation of the new payment method.
Bitcoin’s code has been copied and amended by numerous other teams starting similar digital currencies, however, Bitcoin is still more valuable than all the other cryptocurrencies combined.
How to trade Bitcoin?
There are two ways to invest in bitcoin: People could buy bitcoin outright so that they would be the owner, they would then try to sell it in a bid to make a healthy enough profit. However, most people tend to trade Bitcoin CFDs, this enables them to speculate on its price without ever having to own the actual coin itself. With a CFD you are essentially trading a contract based on its price in the underlying market. You will need to place a small initial deposit down but this means you can gain exposure to a larger position, meaning your profit will also be magnified. Please note whilst your profits can be magnified, CFD trading will also have the same effect on your losses.
