Everything you need to know about bitcoin in 2021

 Just this week, Tesla (TSLA) said it would soon be accepting bitcoins as payment for its cars, revealing that it has acquired $ 1.5 billion of cryptocurrency as part of its cash holdings. Meanwhile, Uber (UBER) and Mastercard (MA) have announced their intention to start accepting bitcoins. And BNY Mellon is America's oldest bank, a viral technology blog. Beginning with the founding of Bank of New York in 1784 by Alexander Hamilton, he announced the creation of the division of the digital assets.

What is Bitcoin?

Bitcoin is a cryptocurrency created in 2009 by an unknown person under the pseudonym Satoshi Nakamoto. Transactions are anonymous and are conducted without intermediaries or intermediaries.

You cannot actually use Bitcoin - it is a digital currency. It is decentralized, which means that it is not controlled by a bank or government.

Currently, it can be used everywhere from Overstock.com to PayPal - and the list is expanding rapidly.

Many people also consider Bitcoin to be a good investment. And that was certainly true this week, given that Bitcoin hit an all-time high of $ 49,000 this week.

Where can i buy bitcoin?

Bitcoin is 100% digital currency. Markets called "bitcoin exchanges" allow people to buy or sell bitcoins using a variety of traditional currencies. Coinbase is the leading exchange alongside Coinmama, CEX.IO and Gemini.

Where do I store my bitcoin?

Bitcoin is stored in a digital wallet in the cloud or on your computer. It looks like a virtual bank account. But, unlike bank accounts, stored bitcoins are not protected by the FDIC.

Wait, what does Elon Musk have to do with it?

Elon Musk, CEO of Tesla and SpaceX, has a track record of tweeting to solidify assets and add value, and the world's richest man is a huge supporter of Bitcoin.

“I think [bitcoin] will soon gain widespread acceptance by traditional financial experts,” Musk said in a recent interview on the audio-only social app Clubhouse.

Shortly after he formalized Tesla's relationship with cryptocurrency, advertisements for the company began popping up.

Is Bitcoin Safe?

Cryptocurrencies are highly volatile and therefore risky. For example, the value of bitcoins rose to $ 42,000 in January, dropped to $ 30,000, and then rose again to $ 40,000 - all within one week.

Digital currency comes with some risks: a compromised server, a deleted file, or a lost password can mean losing money forever.