If being asked about the underlying reason for the success of Cryptocurrencies in the contemporary financial world, then the only name which comes to mind is Bitcoin. And why not, it is the first digital currency who ignited the new digital monetary system in the form of cryptocurrency. However, the journey of the dominant cryptocurrency was not that simple as it has to suffer criticism and ban in the countries, including big nations like India and China. The reason behind such non-acceptance was illegal methods that could be practised by malicious minds using these digital monetary platforms. But with time, the ban over it was finally put off. And today there are millions of people across the globe who are using cryptocurrencies for trading and for sending money via digitally to their dear ones. Today, we will let you know about the dominant cryptocurrency and the price of Bitcoin in 2021.
Knowing About Bitcoin, The Dominant Cryptocurrency
Bitcoin is not like other physical currencies, because it is in a decentralized form. The trading of this digital coin is done through the computer. Bitcoin is much different from the fiat currencies like Euro or Dollar, which are issued by central banks or any other financial authorities. It is because the dominant digital currency, Bitcoin, eliminates the role of middleman, banks or even government. The ownership is given to the user. This cryptocurrency proved to be a milestone as innovation for digital currencies.
The brainchild behind the launch of Bitcoin is Satoshi Nakamoto. There are misconceptions about its real founder, but the latter is much familiar than any other person who can claim to be its real founder. Well, let us not get into this confusion as our main focus is on to discuss Bitcoin.
Ever since it made its debut on 3rd January 2009, it created a buzz among the people from all over the world. The price of Bitcoin at that time was not much high. Some people negotiated Bitcoin first transaction value with the transaction of 10,000 BTC. The first purchase that made using Bitcoin was a Pizza.
However, if you are curious to know about the easiest way to earn bitcoin, then it is estimated to reach $50K, according to some financial experts. The first time price of Bitcoin hit was $20K during December 2017. Since then, the bug of curiosity hit them to wonder about its next milestone in the coming years.
If you know all about cryptocurrency, including the price of Bitcoin, then you must have come across a term called ETF. If not been much familiar to it, then let us tell you that ETF or exchange-traded fund is akin to stocks. You can understand it as an investment fund which is referred for trading on stock exchanges. It consists of assets like commodities, stocks and bonds. There is even a close similarity between mutual funds and ETFs. But there is a difference, as ETFs deals consistently in trade sharing like a standard stock. The differences which set ETF apart from a mutual fund is the continuous fluctuations in its price. This is not the case with mutual funds, because in this trading is done once a day till the time market gets closed.
Revealing Some Best Cryptocurrency ETF
After knowing about the price of Bitcoin for the year 2021, now let us know some best cryptocurrency ETF.
Amplify Transformational Data Sharing
This ETF is not complete Bitcoin ETF. Moreover, it has nothing to do with holding bitcoins. Instead, this digital ledger stores all the transactions of Bitcoin. Currently, it is known for holding stocks ranging to 54.
The Bitwise 10 Private Index Fund
It is the world’s first index fund that is based on cryptocurrency. 10 major cryptocurrencies are held by it. From the evaluation of network opportunities to finding and helping the funds, investors regarding available profits are all done by it.
Grayscale Bitcoin Investment Trust
This ETF had been the first one to give investors the exposure of Bitcoin. Although, it was not supposed to be made for ETF. But somehow it updates investors about the development in the price of Bitcoin through regular investment with no hurdles related to the safety of this leading cryptocurrency in terms of storing and purchase.
If you are in the cryptocurrency field, then it is understood to be interested in the ongoing developments happening in this digital world. If you are a crypto enthusiast, it is a matter of interest to know about the price of Bitcoin for the coming years and comparing it from the current price. Since Bitcoin is the foremost cryptocurrency which is much loved by people across the world. After the ban got lifted from the cryptocurrency, people became so much active in making digital transactions by it. It became much popular choice among the big traders for trading. Currently, the price of Bitcoin might get affected by Coronavirus. But it might rise again after the demise of this monstrous disease.
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Freelance Digital Marketing specialist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.