One of the first cryptocurrencies to grow to prominence is Bitcoin (BTC). It was invented in 2008 and now represents the largest cryptocurrency by market share. BTC has a market value of almost $40 billion as of June 2017. Ethereum is the only other cryptocurrency approaching this.
As a cryptocurrency, Bitcoin is a value store that is being embraced more and more widely. Online shops and eCommerce firms are increasingly likely to consider BTC for payment. There are also stores of brick and mortar that have embraced the cryptocurrency.
Where to buy Bitcoin?
By the following means, you can acquire and invest in BTC:
Dealers buy and sell BTC, and they provide the market with liquidity. Via the spread between their bid and asking price, these dealers make a profit. You would most likely pay a significantly greater fee than the prevailing market rate when purchasing from a dealer.
Exchanges are interactive, automated marketplaces that connect BTC buyers to BTC sellers. Many different backend exchanges and many more frontend/UI exchanges are open. There will usually be slightly different market prices for BTC due to the range of exchanges available.
Local transactions are popular. There are "craigslists" or "eBays" websites linking local users who are willing to exchange their BTC for local currency.
The Value of Bitcoin
If BTC is accepted by more individuals as an accepted form of payment, its value increases. The market has a fixed supply of Bitcoin. In fact, the BTC-supporting blockchain network and protocols claim that there can only ever be 21 million BTC in nature. All the Bitcoin available is expected to circulate on the market by 2140. Due to this fixed existence, the value of Bitcoin is heavily influenced by demand.