Most of the internet users in the world today are more or less familiar with the name Bitcoin. However, in a nutshell, Bitcoin is the world's first open-source cryptocurrency, which does not require any kind of financial institution or clearing house for transactions. It is not a currency issued by the government of any country. In 2009, Satoshi Nakamoto introduced the currency under a pseudonym. There is a lot of speculation surrounding this coin and its promoter, which has not been revealed yet. Today we are going to talk about some interesting facts about Bitcoin.

Bitcoin purchase

Many people think that if you want to buy bitcoin, you have to buy 1 bitcoin. But this is not true. The current market value of 1 bitcoin is about 360 dollars, which is more than 3 lakh Bangladeshi rupees. You can buy less than 1 (fractional amount) bitcoin. Such as 0.01 bitcoin, even 0.001 bitcoin! Basically you can buy bitcoin up to 6 decimal places if you want.
Bitcoin demand

Some people think that the price of Bitcoin never goes down, but goes up. This is a misconception. The stock market can be compared to the market price of Bitcoin. It can decrease or increase at any time.


Transaction tracking

One of the most common misconceptions about Bitcoin is its ability to track transactions. Bitcoin transactions are considered by many to be the most secretive transaction. The fact is, though, that Bitcoin transactions aren't just confidential, they're public. Every bitcoin transaction is entered into the blockchain, information that intelligent users can trace in a timely manner. Therefore, it is a misconception that tracking bitcoin transactions is not possible.
Is Bitcoin the only cryptocurrency?

No. Bitcoin is not the only cryptocurrency. Many cryptocurrencies like Stellar, Ethereum, Lightcoin exist in the market. However, Bitcoin is the most popular cryptocurrency.
Bitcoin mining

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Now the main source of bitcoin is mining, which is done through special kind of computer. However, the idea that bitcoin mining is possible on any computer is not correct. Even if it is possible, its profit rate will be doubtful. Bitcoin mining requires a lot of computing power and advanced technology to see the benefits.

Total bitcoin supply

You may have found information on many websites on the Internet that the supply of bitcoin is limited. This idea is true. The existing system will be able to mine a total of 21 million bitcoins. However, the amount of transactions can be greatly increased through fractions.
Bitcoin and the legal system

Is Bitcoin regulated by law? Many may think that being in a confidential pseudonym may avoid the eyes of the law, but the use of bitcoin can be regulated by law. This bitcoin has been banned in many countries. Bangladesh Bank (Central Bank of Bangladesh) has issued a warning not to transact in Bitcoin and similar cryptocurrencies in Bangladesh, saying they are "not legal". A 2014 report by AFP and the Telegraph states that Bangladesh Bank reported to AFP that bitcoin transactions were a punishable offense in Bangladesh.