BTC to IDR - Bitcoin Price in IDR

How Much Bitcoin Is In Circulation?

As of date Bitcoin’s total supply has been controlled and never above 21000000 coins. New coins are generated through the process known as mining: whilst transactions are passed over via the network, they get picked up by miners and packed into blocks, which are then protected by complex cryptographic calculations.

The miners are rewarded for spending their computational resources and for adding blocks to the blockchain. Earlier the reward was 50 bitcoins per block, however, by 2020 the block rewards have been cut down to 6.25 bitcoins.

Bitcoin doesn't have a history of being already mined, ie no coins have been mined before it went public. But the competition has been very low in earlier times than it is now. Satoshi Nakamoto, however, owns over a million bitcoin.

How Secure Is The Bitcoin Network?

Bitcoin is secured using the SHA-256 algorithm, which falls to the SHA-2 family of hashing algorithms, and is also used by its fork Bitcoin Cash (BCH), along with several other cryptocurrencies.

Where To Purchase Bitcoin?

Bitcoin can be bought and sold online, virtually in every crypto exchange, either for fiat money or other cryptocurrencies, below mentioned are a few markets where BTC can be traded easily.

• Binance
• Coinbase Pro
• OKEx
• Kraken
• Huobi Global
• Bitfinex

Why Bitcoin?

Unlike credit cards and banks that charge their users, quite a sum for doing transactions or even holding an account, Bitcoin doesn't have any additional charges for doing transactions. It even gives the privilege of doing transactions online with merchandise anonymously. Bitcoin price is an easy way of conducting international transactions in the simplest way. Bitcoin is even considered a positive investment method, with the belief of having the value go up over the period. The user id provided the convenience of using any type of currency to do the transaction. Cryptocurrency goes ahead and makes the use of this transaction safe and secure by using the blockchain as its platform. Hotel bookings, international payments, and purchase from online merchandise is made easy with bitcoin. Bitcoin wallet: Just like our physical wallet, the bitcoin wallet is a virtual bank account wherein we can store our bitcoins for further use in buying or saving money. It can be easily stored in a user's computer or the cloud.

Bitcoin Facts

A huge leap in the global blockchain market is expected within the next 25 years. The current market cap of bitcoin price is 145 billion dollars. 80 percent of bitcoin owners bought their coins, the other 20 percent were mined. A 6 billion dollar daily transaction is accounted for via bitcoin.

Blockchain: A public transaction database used as a distributed ledger.

Marketplaces: a virtual platform for people to buy and sell cryptocurrencies in a different modes of currencies.

Bitcoin: Created and founded in 2009 is the world's first decentralized cryptocurrency that assists in doing virtual transactions online without any centralized regulating authority.