Black Friday on 28th November, Thanksgiving on 29th November, super cool deals; you might have heard a lot of this stuff in the past few days. Another thing which you might have heard along all of these must be Bitcoins. Every other dealer, every other website, they all are offering dirt cheap deals on stuff ranging from food to gadgets to lifestyle but you get all these benefits and discounts only if you possess Bitcoins. There were metal coins, metal coins and now we use hybrid metal coins but what the hell are Bitcoins?
Bitcoins are a form of online currency which is stored into your digital wallets. This concept came into existence in the year 2009 and is consistently gaining prominence since then. You would be surprised to know that as of today, the value of a single Bitcoin stands at $100! So, how did all this happen in a short time of only 4.5 years? The reason can be traced back to the amount of Bitcoins that exist. There are only a limited number of Bitcoins that are in existence. As this digital currency concept gained popularity, it was transferred from one hands to another and the limited amount ensured that there was a strong growth in its value.
Now, a prominent question arises, are Bitcoins safe and should you invest in them? There are two factors which need to be looked into when we try to seek a fitting answer to that question. The first is that Bitcoins are not under the control of any world government or agency. So, they cannot monitor what number of Bitcoins you possess or how much are you receiving or transferring. Due to this, there has been a constant opposition from several industries. Many type of such digital currencies exist in the market and in future might give a challenge to Bitcoins. At that time, Bitcoins might see a depreciation in their value. We have these two issues against Bitcoins but let us also tell you that they are safe. The number of existing Bitcoins at a particular instant of time is accurately decided by a robust algorithm. The transactions are also secure. We can conclude that just like any stock market, Bitcoins are a bit risky. Then again, nothing in this universe comes with a silver bullet and future can never be predicted. We can only work on our present and the present points towards a good show by Bitcoins. It is cool to buy some and reap the benefits of the super cheap deals on offer!