Bitcoin: What is it, where can you use it and is it worth investing?

Bitcoin: What is it, where can you use it and is it worth investing?


Most obviously, What is Bitcoin doesn’t exist as a physical currency. When people say you can ‘be your own bank’, they’re referring to the many storage options Bitcoin has. After buying Bitcoin you can choose where to store it, either digitally or offline. This gives people much more opportunity to manage their money how they want to .

Hedge fund manager Mike Novogratz told CNBC it could quadruple to $40,000 by the end of 2018. A piece on the investing website Motley Fool in May questioned whether it could go to $1m. Transactions can be tracked, giving a higher level of security than handing over money to the average street dealer, but identities can’t. Bitcoin is still used to buy drugs online, but its use has spread far beyond that. You can buy Bitcoin at an exchange like CoinCorner by signing up for a free account and depositing funds in GBP or EUR. Once you’ve funded your account with your chosen fiat currency, you’ll be able to use the balance to buy Bitcoin.

Bitcoin Price

Although Nakamoto was the first person to successfully create a viable cryptocurrency, he wasn’t the first to try. Many critics speculate that Bitcoin is a passing trend that is nearing its end. On the contrary, Bitcoin – and the wider crypto-verse as a whole – looks set to be a core part of the future of several key industries. Bitcoin is a global currency and can be used to purchase goods and services from anywhere in the world.

AQRU may not offer certain products, features and/or services on the AQRU App in certain jurisdictions due to regulatory restrictions. Therefore, you do not need to provide your name or other personal information when using it. As no central authority regulates Cryptocurrencies, there are currently no consumer protection laws in the UK to protect people if their funds are lost or stolen.

How do you get bitcoin?

If you were paying attention a little earlier, you will remember miners get a BTC reward whenever they successfully solve the complex mathematical puzzle that adds a block to the chain. For a real-world example, just look at what has been happening with the coronavirus. Demand for hand sanitiser exploded at the start of the Covid-19 pandemic but the supply remained the same. Because of this, prices went up, making hand sanitiser worth more. But bitcoin appears here to stay, at least for the time being.


It is possible for people to use Bitcoin for illegal activities, such as buying drugs or weapons on the dark web with limited traceability. As a result, governments and financial institutions may not support Bitcoin and may even attempt to ban it. You can also receive Bitcoin as a gift or donation from friends, family, or strangers. To receive Bitcoin as a gift or donation, you can use your Bitcoin wallet address.