What is the meaning of Bitcoin?

Bitcoin is the first cryptocurrency created in 2009, enabling 3-7 times faster global payments than regular bank transactions. People can make user-to-user transactions without a middleman like a bank. Bitcoin is a virtual currency which is centralized by many government authorities for its control and calculation of the value. Bitcoin was introduced as an exchange medium for trading. The peer-to-peer network is generated as a system for online payments and BTC deals. A rapid growth in the BTC trade has increased the value of cryptocurrencies.

Bitcoin (BTC)

Some important facts about BTC:

  1. Bitcoin is the biggest coin in the crypto market.

  2. BTC is powered by blockchain technology.

  3. It is an open source software enabling the users to trade without fiat currency.

  4. It is a good source for investment and making payments.

  5. It works with a Bitcoin network to check the transaction history.


BTC uses decentralized methods of payment to settle the international deals. 

Transparent payment system

Bitcoin Mining

You must be wondering about “what is the meaning of Bitcoin?” What are the modes of payments used for trading in these crypto currencies? The localised payment system to buy and sell BTC internationally allow the users to trade without any mess for exchange rates and additional charges applicable for dealing global currency.

Processing the Bitcoin transactions in a chronological order is really difficult for individuals. The Bitcoin traders spend a lot of time to record and summarise the transactions successfully. So they create their own groups for doing so. Currently, the block rewards for Bitcoin mining is nearly 12.5 BTC.

Check TOP 3 best and trusted exchanges to buy and trade with cryptocurrencies. 




  • Multiple currencies are supported.

  • Convenient and user-friendly interface.

  • Fast and better BTC circulation in the world.

  • Reliable trading in asset coins.

  • Over 50 million merchant connections.

  • Traders can set the purchase limits.

  • Round the clock customer services

  • Supports QR codes to transfer the asset coins.

  • Fiat-to-crypto and crypto-to-crypto trades available.  

  • Offers highly leveraged marginal trading.

  • Quickly accessible features.

  • Decent buying and selling fees.



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Binance is a perfect crypto exchange for the crypto-to-crypto trading. It is ranked as one the most popular exchanges to internationally deal in digital asset coins like Bitcoins, Litecoins and many more. The traders can take the advantage of impressive offers along with the lowest trading fees. As a newcomer to the crypto market, Binance is rapidly growing with a huge selection of BTC pairings. It also offers its own asset coins, namely Binance coins. It is a centralised exchange that offers discounts while trading with the help of token issued to buy and sell the virtual currency all over the world.

  • Allows recurring purchases in Bitcoins regularly.

  • Trade limits can be set for the purchases. 

  • The traders can pay using the bitcoins in the selected markets.

  • Trade in cryptocurrencies is fast.

  • Transfer the asset coins from friends and family using QR codes.   

  • Furnished with round the clock customer services.

  • Over 50 million merchants are connected with the crypto exchange

  • Supports limited payment options only.

  • Deals in fiat currency are not available. 

  • Trading fees are applicable for the users.


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With the Huobi Global exchange, the users can access full control over their digital assets while managing their own private keys. Huobi has obtained multiple patents that offer highly encrypted databases. People can easily manage their multiple digital assets with multiple digital signatures jointly. The Huobi Group aims to create a user-friendly interface and improve the quality services to the users every time. The exchange offers buying and selling of over 1000 different types of virtual assets with just a click.

  • 20,000 BTC reserve fund as security.

  • Subscribed by 200+ institutions and individuals.

  • Limited threshold amount.

  • Investment in digital assets for a minimum of 10-30 BTC.

  • Includes projects related to blockchain technology.

  • Minimum threshold amount for digital assets is required.

  • Withdrawal in Bitcoins was stopped due to a ban on Bitcoin exchange.

  • 920 Bitcoins were wrongly deposited in different accounts. 

  • Technical issues are not resolved.


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Since its establishment in 2011, Kraken has become the largest cryptocurrency exchange in terms of volume and liquidity. Kraken exchange is like outsourcing with the first cryptocurrency bank. The users can quickly understand what is the meaning of Bitcoin? It allows the users to buy and sell Bitcoins in different currencies for different countries. Cryptocurrencies other than Bitcoin can also be traded with Kraken. The experienced users can take the advantage of marginal trading and other advanced trading features. Kraken is based in San Francisco and is available for the US, Canadian, European nationals as well.

  • More than 27% trading volume includes Bitcoins.

  • Highly reputed crypto exchange. 

  • Quickly accessible features.

  • Decent buying and selling fees.

  • Reasonable transaction charges.

  • Limited payment methods.

  • Suitable for the professionals only.

  • Irrational user interface.

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Cryptocurrency Risks

Management Of Digital Wealth

Easy Entrance To The Vicious Circle

Trading Charges

Do you know what is the meaning of Bitcoin? The virtual assets like cryptocurrencies are intangible and digital assets which makes it tougher to take their full custody and control. Cyber and physical security among the crypto custodians requires high protection and security. Highest profile robbery can destroy the wealth status in just a minute. However not every cryptocurrency could afford high standards of security for the emerging crypto risks.

While considering the cryptocurrencies, it is easy to understand their impact on the financial aspects of traders. It hampers the traders from entering the crypto market as the Crypto world is prone to various cryptocurrency risks that can create market panics and market exits. Also the traders are debarred from buying and selling in asset coins due to technological barriers.   

Most cryptocurrency exchanges represent their fees related information on their websites only. But the traders should know about what is the meaning of Bitcoin? The users must be sure about the deposit and withdrawal fees and the relative trading charges for each transaction. Different crypto exchanges can also have different foreign exchange rates.

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The website is only for the educational purposes. The website does not constitute the provision of any financial or investment advice in connection with the use of the website. You should consult with a financial or investment professional to understand the risks of cryptocurrencies. You should not invest more than you are ready to lose. We don't guarantee you any trading profit.  BuyBitcoin24 doesn't offer legal services or company registration in Estonia. You can contact our legal team via website www.consulting24.co.​ We receive an affiliate advertising commission from crypto exchanges and Bitcoin wallets.