Bitcoin is a decentralized digital currency created in 2009 by an unidentified individual or group, Satoshi Nakamoto. It allows for peer-to-peer transactions without the need for intermediaries like banks or governments. It uses cryptography to secure transactions, control the creation of additional units, and verify the transfer of assets.
Bitcoins are created through a process called mining. Miners use powerful computers to solve complex mathematical problems that validate and secure transactions on the network. Upon solving these problems, miners are rewarded with newly minted bitcoins. This process also introduces new bitcoins into the system.
The price of Bitcoin is extremely volatile. Factors such as market demand, investor sentiment, regulatory news, and economic indicators significantly impact its value.
Canadians have shown strong interest in Bitcoin as an investment. Currently, Bitcoin’s Canada price is around CAD 85,576.63. Numerous cryptocurrency exchanges operate in Canada, including Maple Investments. They offer a platform for buying, selling, and trading Bitcoin and other cryptocurrencies.
