Nevertheless, bitcoin remains one of the most popular cryptocurrencies to buy in Canada. In 2021, bitcoin saw a remarkable bull run, climbing to a value in excess of $60,000 CAD before recent concerns over bitcoin mining, and its negative effect on climate issues halved the largest cryptocurrencies value. Over the years bitcoin’s price has soared – and occasionally dived – and today it is widely argued to be a legitimate hedge against inflation.
This data cannot be altered in any way and to conduct a serious cyber-attack on the blockchain is essentially impossible as a hacker would need more than half of the computing power of bitcoin to be successful. Bitcoin, like all other cryptocurrencies, leverage blockchain technology to transparently and permanently record transaction data.
#SHOULD I BUY BITCOIN WITH PAYPAL FREE#
Bitcoin is the world’s first cryptocurrency and to this day is still the largest digital asset available in Canada.Ĭreated in 2009, bitcoin aimed to be a decentralised form of currency that would be free from government interference and facilitate lower transaction costs than through traditional online means. We’d bet that you’d be hard-pressed to find a friend that doesn’t own a cryptocurrency or thought of investing in bitcoin. It is basically impossible to read the news today or even check out a social media feed without seeing something about the world’s largest cryptocurrency.
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