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CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 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English AR - العربية ES - Español FR - Français HI - Hindi ID - Bahasa Indonesia KO - Korean MY - Malay PT-BR - Português RU - Русский TH - ภาษาไทย TR - Türkçe VI - Tiếng Việt ZH - 中文 * [](/ "Home") * [Education](/education) * Bitcoin 101: An introduction to the first cryptocurrency Bitcoin 101: An introduction to the first cryptocurrency ======================================================== Updated 13:27:18 13/11/2025 ![Bitcoin 101: An introduction to the first cryptocurrency](https://assets.simplefx.com/home-wp/2024/07/10072446/bitcoin.jpg) Bitcoin is the foundation of the crypto market. Understanding the basics of Bitcoin and the most critical information is essential for anyone considering investing or trading digital assets. Key insights: ------------- * Bitcoin is the first decentralized currency based on blockchain technology, with a fixed supply of 21 million coins. * It remains a benchmark for the crypto market, while altcoins also drive innovation and scalability. * BTC has shown strong growth over the last couple of years, from $16,500 in early 2023 to over $120,000 in 2025. * Bitcoin relies on Proof of Work, mining, and blockchain hashes for security and decentralization. * Introduced in 2008 by Satoshi Nakamoto, Bitcoin evolved from an experiment into a leading global asset. Bitcoin 101 ----------- Bitcoin (BTCUSD) is the first and most recognizable cryptocurrency—a decentralized, peer-to-peer digital currency powered by blockchain technology. Its unique approach of removing intermediaries and enabling secure, borderless transactions has revolutionized global finance. What are the key facts about Bitcoin? * Only 21 million BTC will ever exist. This limited supply drives demand in an unusual way (more about that below), * As a blockchain-based asset, every transaction is recorded publicly, ensuring transparency and security. * Compared to other assets, such as precious metals, Bitcoin is highly volatile. * Bitcoin is usually the benchmark for the entire crypto market. > SimpleFX gives access to Bitcoin CFD (BTCUSD). It enables traders to enter the market in a flexible way. Bitcoin vs Altcoins ------------------- There are thousands of cryptocurrencies other than Bitcoin—altcoins. Each of them has its own unique values. **The comparison between Bitcoin and two major altcoins – Ethereum (ETH) and Solana (SOL):** Bitcoin Ethereum Solana Purpose Digital money, store of value Smart contracts and dApps Scalable Web3 platform Consensus mechanism Proof of Work (PoW) Proof of Stake (PoS) Proof of History + PoS hybrid Pros Security, decentralization Innovation, flexibility Speed, low fees Weaknesses Energy-intensive (due to PoW mechanism) Network congestion Occasional network outrages Recent BTC performance ---------------------- The data regarding the two previous years confirms the Bitcoin green trend. In 2023, BTCUSD started at $16,500 and finished the year above $42,000, for an over 150% increase in value. At the end of 2024, after the post-U.S. elections rally, Bitcoin reached over $93,000, earlier crossing the magical barrier of $100,000. You can find out how it performs in 2025. ### Q1 2025 ![](https://assets.simplefx.com/home-wp/2024/07/13142317/image-5-1024x478.jpg) The first quarter of 2025 proved to be a rather disappointing period for BTC. Due to growing market concerns about high tariffs, the price fell by over 11% to ~$83,000. ### Q2 2025 ![](https://assets.simplefx.com/home-wp/2024/07/13142317/image-1-1-1024x478.jpg) When it became clear that US tariffs wouldn’t be as high as previously thought, BTC began its spring rally. The mid-year closed around $104,000, representing a nearly 30% quarterly gain. ### Q3 2025 ![](https://assets.simplefx.com/home-wp/2024/07/13142317/image-2-1-1024x478.jpg) The third quarter saw BTC consolidate. The final close was near $114,000, with a modest 8% gain. BTC mining ---------- Bitcoin mining is the process by which transactions are validated. It involves computational power to solve complex cryptographic puzzles, allowing miners to secure the network and earn newly created bitcoins as a reward. ### How difficult is Bitcoin mining? Bitcoin mining difficulty adjusts roughly every **two weeks (every 2016 blocks)** to ensure that new blocks are created about **every 10 minutes**, regardless of how many miners are participating. When more miners join the network and total computational power (hash rate) increases, the difficulty rises; when miners leave, it decreases. ### How does Bitcoin mining impact the halving process? According to the Bitcoin whitepaper, mining rewards are halved every 210,000 blocks. It means that approximately every 4 years, the mining reward and BTC inflation halve. ### How much energy does it require? Miners worldwide compete to solve complex cryptographic puzzles. Bitcoin mining consumes significant amounts of energy. ### What is Proof of Work (PoW) in Bitcoin? ICYMI: Proof of Work (PoW) is a consensus mechanism used in the Bitcoin network. Miners use high amounts of power and electricity to validate transactions. It makes BTC highly secure and decentralized. Each block in the chain requires real energy and effort to be added, which almost eliminates the risk of frauds. Nevertheless, PoW also means higher energy consumption and slower transaction speeds. These are one of many differences between Proof of Work and Proof of Stake, used by Ethereum, Solana, and multiple other altcoins. BTC security: Is Bitcoin a safe store of value? ----------------------------------------------- Bitcoin’s security relies on blockchain technology, in which each block contains a hash that links it to the previous block. This technology makes it unbreakable. Changing a single block would require rewriting the entire network, making fraud nearly impossible. Decentralized design and fixed supply make Bitcoin a secure store of value, similar to gold. However, its price volatility and relatively short history might make it riskier than traditional assets. BTC History (Satoshi Nakamoto) ------------------------------ Bitcoin was introduced by Satoshi Nakamoto in 2008. The “Bitcoin: A Peer-to-Peer Electronic Cash System” whitepaper marked the start of the crypto revolution. What began as a decentralized payment idea has evolved into one of the most traded and valuable assets in global financial markets. ### BTC performance in 2024 ![](https://assets.simplefx.com/home-wp/2024/07/13142249/image-4-1024x478.jpg) 2024 is a 120% increase for BTC. We started the year below ~43,000 and closed at nearly $94,000. The gains were driven by two key events: the introduction of a spot BTC ETF and Donald Trump’s victory in the US presidential election. The former event caused the price to rise by 57% in just 2 months, and the latter by 57% in 1.5 months. Satoshi: The smallest part of BTC --------------------------------- Because a single Bitcoin can be worth thousands of dollars, it needs to be divided into smaller units for everyday use. The **smallest unit is a Satoshi**, named after Bitcoin’s creator, Satoshi Nakamoto. One Bitcoin equals **100,000,000 Satoshis (0.00000001 BTC)**, allowing traders and investors to buy or trade even the tiniest fractions of BTC. Bitcoin is a foundation of the crypto market – decentralized and transparent. From its 2008 whitepaper to its dominance today, it has become a benchmark for digital assets, combining innovation, security, and growing global adoption. * [Key insights:](/education/bitcoin-101#key_insights_) * [Bitcoin 101](/education/bitcoin-101#bitcoin_101) * [Bitcoin vs Altcoins](/education/bitcoin-101#bitcoin_vs_altcoins) * [Recent BTC performance](/education/bitcoin-101#recent_btc_performan) * [BTC mining](/education/bitcoin-101#btc_mining) * [BTC security: Is Bitcoin a safe store of value?](/education/bitcoin-101#btc_security__is_bit) * [BTC History (Satoshi Nakamoto)](/education/bitcoin-101#btc_history_\(satoshi) * [Satoshi: The smallest part of BTC](/education/bitcoin-101#satoshi__the_smalles) #### Ready to start investing? 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If you ever need assistance or have questions while using the SimpleFX App, the ... by SIMPLEFX - October 5, 2023 ](/education/where-to-find-a-help-center-mobile "Where to find a help center?")[ ![How to modify your opened and pending trades?](https://assets.simplefx.com/home-wp/2023/10/06113520/Modify-your-order-mobile-miniatura-home.jpg) How to modify your opened and pending trades? Modifying your trades on the SimpleFX App is a breeze. Follow these steps to mak... by SIMPLEFX - October 5, 2023 ](/education/how-to-modify-your-opened-and-pending-trades-mobile "How to modify your opened and pending trades?")[ ![How to close your trade?](https://assets.simplefx.com/home-wp/2023/10/06113659/How-to-close-an-order-mobile-miniatura-home.jpg) How to close your trade? Closing a trade on the SimpleFX App is as easy as pie. Follow these steps to gra... by SIMPLEFX - October 5, 2023 ](/education/how-to-close-your-trade-mobile "How to close your trade?") × Simple account opening. 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Office Address: 18 Bank Street Ground Floor, Silver Bank Tower Cybercity, Ebene, Mauritius. 8TECH LTD does not provide any Fiat Exchange Services nor Cryptocurrency exchange services. 8TECH LTD does not support cryptocurrency trading accounts nor cryptocurrency deposits. **8TECH ZA (PTY) LTD** a Crypto Assets Service Provider and FSP with License No 53073 Authorized by the Financial Sector Conduct Authority (FSCA), Office address: 4 Haven Lane Malvern Queensburgh Durban Kwa-Zulu Natal 4093, South Africa. 8TECH ZA (PTY) LTD offers cryptocurrency deposits and supports cryptocurrency trading accounts based on the FSCA license No 53073 with crypto assets subcategory. **8TECH SVG LTD** with registration number 22361 BC 2014 with registered address at Beachmont Business Centre, Suite 404, Kingstown VC0100, Saint Vincent and the Grenadines. 8TECH SVG LTD is the owner of the website SimpleFX: Free trading & investing platform. 8TECH SVG LTD offers cryptocurrency deposits and supports cryptocurrency trading accounts. 8TECH SVG LTD does not offer Fiat exchange services nor Cryptocurrency exchange services. **SimpleFX Group** is not authorized by any EU authority, EEA National Competent Authority or the United Kingdom. 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