Unless you’re well-acquainted with the world of financial technology, there’s a fairly good chance you wouldn’t have heard of Bitcoin. Launched in January 2009, Bitcoin is a special type of cryptocurrency, a currency that relies on cryptography; unlike most currencies that can be influenced by external factors, one of the key aspects of Bitcoin is that it’s completely decentralised, giving Bitcoin holders complete autonomy over their funds, and protecting against financial perils such as covert fees or identity theft.
So far, however, Bitcoin has failed to replace the conventional banking system. As a technological currency in its infancy, there are still many unaware of its existence, and there are still features that need to be ironed out before Bitcoin truly hits the mainstream. Bitcoin isn’t quite accepted all over the world yet, but that doesn’t mean the cryptocurrency hasn’t skyrocketed in value since its conception. In fact, had you invested in Bitcoin back near the start, today, you might be in for quite a significant windfall.