Bitcoins are a type of currency, just like dollars and euros, that is based online. What sets bitcoins apart from other currency is that bitcoins prices stay the same and do not need to be exchanged for the local currency.As of Jan. 22 the price of one bitcoin costs $844.40. Bitcoin prices are based on their market value because there is no single owner and anyone can obtain one. Bitcoins can be obtained by “mining” them or trading them. Mining bitcoins means giving a portion of a computer’s time to process data that is given to everyone about every ten minutes.
Bitcoins are a global currency, safer than credit cards, and secure because each bitcoin is recorded and can’t be forged. Right now there are over 12 million and the amount will stop increasing at 2140 for a total of 21 million bitcoins. Is this new new currency that will replace all other currencies, or will this new currency crash to the ground.
Bitcoins are safer than regular currency because security is what bitcoins are based on, more businesses are accepting bitcoins for payment, and bitcoins are not controlled by a single entity.