Fast facts on Bitcoin

Some Bitcoin-watchers are predicting 2014 will be the year the online currency breaks into the mainstream.

By Staff | January 30, 2014 | Last updated on January 30, 2014

1 min read

Some Bitcoin-watchers are predicting 2014 will be the year the online currency breaks into the mainstream, reports Huffington Post, so before your clients start asking questions, brief yourself about what exactly this cryptocurrency is about.

Read: Bitcoin okay in Vegas

The first fact to know is bitcoin is a currency that exists in the electronic world only. No central bank backs it, and it’s touted as free from political interference, notes HuffPost.

The reason it’s generating so much buzz now is because it’s value increased by 5,000% in 2013, from US $13 to more than $1,000 by the end of the year.

To learn more about Bitcoin, including how to trade it, use it to buy things, and where to get it, read more here.

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