Sometimes Bitcoin is synonymous with the cryptocurrency space. That’s because Bitcoin is the oldest cryptocurrency available. It’s also the most expensive and — as of January 2020 — also has the largest market cap worldwide.
Bitcoin isn’t minted by a central bank or governed which is why it’s referred to as a decentralized currency. Its supply is dictated by “miners,” other computers in the network that create bitcoin by getting their computer to solve hard math puzzles. If you’ve got a powerful enough computer, you can “mine” for bitcoin (in the same way that someone might “mine” for gold). Mining costs computational power (and the electricity to run the computers), which is why bitcoin is “worth” something.
BTC will be available on Wealthsimple Crypto at launch. If you’re interested in trading BTC — or Ethereum (ETH) — be sure to join the waitlist!
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