Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
Bitcoin is changing the way we see money as we speak. The idea was to produce a means of exchange, independent of any central authority, that could be transferred electronically in a secure, verifiable and immutable way. It is a decentralized peer-to-peer internet currency making mobile payment easy, very low transaction fees, protects your identity, and it works anywhere all the time with no central authority and banks.
Bitcoin is designed to have only 21 million BTC ever created, thus making it a deflationary currency. Bitcoin uses the SHA-256 hashing algorithm with an average transaction confirmation time of 10 minutes. Miners today are mining Bitcoin using ASIC chip dedicated to only mining Bitcoin, and the hash rate has shot up to peta hashes.
The cryptocurrency then took off with the innovation of the turing-complete smart contract by Ethereum which led to the development of other amazing projects such as EOS, Tron, and even crypto-collectibles such as CryptoKitties.
Top 13 wallets for Bitcoin (BTC) (August 2021 Update)
Hardware wallets are the safest and most convenient options for securing your Bitcoin (BTC). These hardware wallets are specially designed to store private keys securely. They're considered safer than desktop or smartphone wallets, mainly because they don't connect to the Internet at any point. These properties significantly reduce the attack vectors available to malicious parties, as it means that they can't tamper with the device remotely.
- Ledger Nano S Hardware Wallet
- Ledger Nano X Hardware Wallet
- Trezor One Hardware Wallet
- Trezor Model T Hardware Wallet
- SafePal S1 Hardware Wallet
- Coldcard (MK3) Hardware Wallet
- CoolWallet S Hardware Wallet
- CoolWallet Pro Hardware Wallet
- Opendime (v4) Hardware Wallet
- DCENT Biometric Hardware Wallet
- Security-Arts Quantum Hardware Wallet
- ShiftCrypto BitBox02 Hardware Wallet
- Foundation Passport: Founder's Edition Hardware Wallet