Bitcoin started out as a concept that not everyone was able to grasp right away. It was so vague that people started questioning if it would really work. After all, how could money exist virtually? The year was 2009 when Bitcoin started to come to life.

The cryptocurrency came to fame at a time when people, especially investors, became apprehensive about the way central banks control currencies. There were even rumors of manipulation back then. Bitcoin gained significant attention when it was introduced. This is mainly because it has no central authority. Investors, particularly those who want to diversify their portfolios, showed interest in the cryptocurrency. 

This started the growing popularity of not just Bitcoin but also other cryptocurrencies. People used them more and more when making online purchases and remitting money abroad. Two decades forward, hundreds of thousands of businesses across the globe accept virtual coins in their transactions.

Another thing that made Bitcoin a promising form of currency is that it has limited supply. An increase in its demand causes increase in its value. This made it more appealing to investors. There was at least one major drawback, however: it could likewise be volatile. Factors include its low level of popularity as a store of value or as a vehicle of transfer. While many people believed in it, a lot more were doubtful of its legitimacy as a currency. There were even allegations that the decentralized digital currency was used in drug trade, on top of other common fund security issues.

These concerns did not stop Bitcoin from becoming more famous among investors and businesses. In fact, it is currently known as an excellent means to process payments online and a smart alternative to central bank-controlled money.

If you are interested in investing in Bitcoin, proceed with caution though. Investing in cryptocurrency can be complicated and its processes and regulations may vary depending on the platform you plan to use. Blockchain PR agency suggests doing your research first to ensure you take the right steps towards a successful investment.