Learn some of the curiosities you may not have known about bitcoin.

1. How much did a bitcoin cost at the beginning?

Actually when bitcoin (BTC) was made it had no worth practically identical to some other cash. One might say that its worth was zero. It was in October 2009, following a couple of months, when the primary exchange occurred in which 1,309 bitcoins were traded for 1 dollar. In 2010 the digital currency started to become well known and the primary public trades were of 1 BTC for 0.003 dollars. That is, with 1 dollar you could get 333 bitcoins.

In 2021, it reached its maximum trading price when it surpassed the $66,000 barrier. Therefore, if 333 bitcoins had been acquired for $1 in 2009, they would have been worth more than $21,978,000 dollars.

2. Who created bitcoin?

So far, it remains a mystery. It is not known whether it was an individual or a group of people. However, it is known that the code name of its creators is Satoshi Nakamoto. It is estimated that he owns 1 million bitcoins, since he was the one who mined the main blocks of this digital money.

3. Bitcoin has no real value?

Critics of digital currencies often say that they have no intrinsic value and are not backed by another currency or precious metal. But the truth is that they are exchanged daily and used as an established currency, so they clearly have a real value determined by the market. The important thing is to study and evaluate the market.

4. Is it possible to buy a fraction of bitcoin?

Yes, one bitcoin can be divided into one hundred million parts and is called "satoshis", in reference to its creator. Its minimum expression is 0.00000001 bitcoin and it can be bought at a set value on the market.

5. Is bitcoin illegal and used for money laundering?

It is money that, although unregulated in many countries, is legitimate. It is considered unlikely to be used to launder large amounts of money, as cash is still the number one money for criminals.

On the other hand, platforms for investing in cryptocurrencies are regulated in many countries and operate under rules aimed at preventing this crime.

6. Do I have to pay taxes on the purchase and sale of bitcoins?

Bitcoin was born 13 years ago, but its popularity is recent. Therefore, there are still no specific regulations. However, there are tax obligations to be met. First of all, as with traditional currencies, their purchase and sale are exempt from VAT. However, if you own bitcoins and want to sell them, in order to obtain a profit, you will have to report it in your Income Tax Return and pay the tax.

 7. Can Bitcoin be easily counterfeited?

Digital currencies work with their own codes and because of the idea of blockchain innovation, it is extremely hard to copy exchanges or produce fake cryptographic forms of money. Taking this into account, it is very safe to invest bitcoin.