Bitcoin is the first and widely recognized cryptocurrency. A type of digital money that is not dependent on any government or financial institution. It can be transferred globally without a need for a centralized intermediary such as banks, and has verifiable transactions recorded in a public distributed ledger called a blockchain, that arguably cannot be altered or hacked.
Bitcoin, with other tokens like Ethereum, Dogecoin, Litecoin and Cardano are just among the 13,000 cryptocurrencies that tops the list with high capitalization. Their value remarkably rose by many folds over the years. Bitcoin, for example, was worth 30 cents each in 2011. Today, one Bitcoin is valued over 60,000 US dollars! In fact, many people who have been holding this kind of asset 10 years ago are now millionaires. Many countries, including Canada, have started to adopt bitcoin and other cryptocurrencies as an investment asset. For some countries, like Venezuela, a country that experienced hyperinflation, have fully adopted bitcoin as their medium of exchange.
Bitcoin was created to provide solutions to the unbanked or to people who have no access to banking and savings services. Bitcoin can be transferred anywhere with someone who has internet access and the cost is way cheaper than any traditional money transfers. Many charitable organizations have also looked up bitcoin as an alternative means to raise funds, because, just like money, bitcoin and other types of cryptocurrencies can also be donated to charitable organizations. Visit the Toronto Bitcoin Centre website at https://torontobitcoincenter.com/ to learn more about bitcoin. If you already own some bitcoin and looking for opportunities to give and help, visit the cryptogiving site at www.cryptogiving.ca to see the list of charitable organizations that accepts bitcoin and other cryptocurrencies as donation