How much does 1 Bitcoin cost?

Have you ever wondered how much exactly 1 Bitcoin costs? Of course, you can basically search for the name of the criptomoeda on Google and get the answer right away, but do you know how this value is determined? The value of bitcoin it is stipulated by a number of different features which frankly can be confusing for the average internet user. After all, cryptocurrency is relatively new in the economic space, and it has only been taking its cultural and economic place for a few years now.

How did Bitcoin come about?

The idea of ​​a decentralized financial currency has been around for decades, but it was after the Financial crisis 2008 that an anonymous user known only as “Satoshi Nakamoto” designed what would be the first model of Bitcoin.

The currency, which is 100% digital, emerged as an alternative to conventional paper currency and is not controlled by any type of banking institution or government. Currently, it is used in digital transactions and in several establishments around the world, with its access having expanded rapidly in the last decade.

After the 2008 financial crisis caused many banks and financial institutions to disbelieve in the eyes of ordinary people, Satoshi found the perfect time to start an exodus against the traditional way of carrying out transactions and introduced Bitcoin to the world. American banks almost went bankrupt in 2008, and this only happened because the American government sent about $3 Trillion to help with the fall.

The first Bitcoin transaction was carried out in 2009 when Satoshi Nakamoto decided to send 10 bitcoins for Hal Finney, but it wasn't until 2010 that a man named Laszlo Hanyecz bought two pizzas for 10,000 BTCs, which at the time was worth around 25 US dollars, and started what would be a new step towards changing the world economy.

At that time, Bitcoin only existed to go against the policies of banks and governments that were going through moments of crisis and world inflation. For Satoshi and his followers, bitcoin would be the financial alternative for those who did not believe in the economic success of the current print format. paper money demonstrated by several governments, especially the US government.

To ensure the success and legitimacy of the currency, the technology was created Blockchain which has become the main source of security for bitcoin.

What is Blockchain?

Bitcoin uses technology Blockchain (Chain of Blocks), which is a kind of open accounting book that receives, informs and generates confirmation of all transactions carried out with the crypto asset. Blockchain is essential for currency transparency, and it validates all movements made with the digital asset.

Blockchain allows all transaction data to be transmitted to network users, who validate blocks in a transparent and decentralized manner. That is, when carrying out a transaction from user to user, there is no need for interference from a larger entity to allow the sending of coins, creating a welcoming environment for those who do not trust centralized financial institutions, such as the central bank.

Blockchain is completely free of any type of controlling entity, creating autonomy for users who wish to carry out transactions anonymously. The Blockchain sends the information of each transaction to the network, which is validated by miners, and serves as a kind of extract where it stores all the information of its transactions, including its possession as the legitimate owner of that transmitted currency.

To learn more about Blockchain technology, We separate a complete guide for beginners.

How is the value of Bitcoin determined?

the value of a crypto, unlike currencies controlled by central banks and governments, is determined by different factors. Because currency is considered a commodity, the value can be influenced by the following reasons:

• The demand for bitcoins and the amount available for exchange and sale;
• The cost of producing a Bitcoin by the mining process;
• Government regulations on the use and purchase of the asset;
• News and attention given by the press.

O BTC, despite being digital, is finite. One day, it will be impossible to mine more coins within the blockchain, and this will end up making the asset even more scarce and valuable. You can already see this effect happening today, as the coin is programmed to decrease rewards via mining every 4 years.

O halving basically reduces inflation in the value of the currency by burning an amount of crypto inside the blockchain. After being burned, these assets are impossible to recover, making mining even more difficult. The last halving took place in 2020, with the next scheduled to take place in 2024.

In addition, the value is also determined by the amount of people who want to buy or sell your assets. Just like a company's stock, if more people are interested in selling, the value will obviously go down. Now, if more people are interested in buying, the value will find itself skyrocketing. The intention to buy and sell an asset can be expressed through public opinion, introduction into pop culture or even through news about the currency in the press.

How to buy a bitcoin today?

Nowadays, buying the asset has become easier thanks to the use of several brokers spread throughout the national territory. Each broker offers its own platform for the purchase and sale of crypto assets, and they offer different rates for those interested.

To open an account and trade bitcoins, you must be over 18 years of age, have an active CPF or CNPJ, a good relationship with the IRS and a valid email address for free access to your account. In addition to the various exchanges, some banks have also started to provide platforms for buying and selling cryptocurrencies, so I recommend that you take a look at your bank's app to see if there is an option.

After opening your account on the platform of your choice, just follow the instructions of each broker to start making transactions. If you have questions about which platform to choose, we have a complete guide to help you buy and sell bitcoins.

What is the value of Bitcoin currently?

The coin is going through a turbulence in its price variation. In just 3 months, she ended up losing 50% of her value, going from the range of 40 thousand dollars to “only” 20 thousand. The factors for this sudden drop in value depend on everything I said in the previous topic, but it also has to do with the loss of investor belief.

At the end of July 2022, the currency ended with the value of R$122.871,59. If we are going to talk about the value of the currency in dollars, it ended the month U $ 23.753,40.

There are many tools to assess the value of BTC today, with one of them being the BTC itself. Google. But if you need a steady analysis, you can visit sites like Coinmarketcap, which manages the value of the main cryptocurrencies available for purchase and sale.

See also other features

On our YouTube channel, we also made a video that will help you understand more about Bitcoin, digital wallets and the risks associated with the currency, check it out:

Bought bitcoins and now you don't know how to proceed with the lion? know how to declare crypto assets on income tax to avoid problems with the IRS.

Pig iron: Investopedia, Boardroom, The Verge e The balance.