Bitcoin is the world’s first and most favourite cryptocurrency coin in terms of users, market cap, and value. It's an innovative payment network and a new kind of digital money that can be sent from user to user without the need for intermediaries – meaning, no banks.
In 2008, Bitcoin was officially announced by the anonymous Satoshi Nakamoto in a white paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System." In 2009 Bitcoin was officially launched. On May 22, 2010, a programmer named Laszlo Hanyecz made the first real-world purchase with Bitcoin when he paid 10,000 bitcoins for the delivery of 2 pizzas. Today, Bitcoin is trading at US$144,340.67.
Bitcoin features
Here are the main features of the world's first decentralized cryptocurrency.
Why You Want It
Make fast, 24/7 payments + Top performing asset class for 10 years.
Provinces
ALL
Features
Produced By Mining
Decentralized
Limited Supply
Circulating Supply
19,947,671 BTC
Current Price
$144,340.67
All-time High Price
$175,909
All-time High Date
October 06, 2025
* As the price changes often, this price was included for illustrative purposes only and is subject to change. For the most up-to-date information, please visit the site directly.
Bitcoin product rating: 4.7 stars
Bitcoin continues to be the most popular cryptocurrency in the world and a favourite amongst both day traders and long-term holders. Bitcoin has unlocked unprecedented levels of innovation at all levels of society and has also taken on a role within globalization, that can be seen as leapfrogging. Just think about the exciting ability of Bitcoin to include millions, if not billions, of unbanked people in the global financial system.
Just like any other cryptocurrency, Bitcoin is considered to be very volatile in price behaviour. At one of its heights in 2017, the cryptocurrency was trading well above the US$20,000 price mark, which was quickly followed by a 2-year bear market.
At the end of March 2020, Bitcoin closed at US$6,438.64. Now, Bitcoin is trading at US$144,340.67.
Rating methodology
To calculate our Genius Ratings, we compare the features of the account or product in question with other similar products in Canada. We give each feature a score out of 5 based on that comparison. Once we’ve rated all the features, we run them through our proprietary algorithm to produce a final rating out of 5.
Learn more about our rating methodology.
The pros of Bitcoin
As one of the most popular cryptocurrencies on the market, Bitcoin certainly has a few pros going for it.
Pros
Open financial system
Bitcoin is without a doubt one of the most accessible financial systems to date. You have the possibility and freedom to make almost instant 24/7 payments with Bitcoin all over the world, even where no banking system is in place. Another advantage is that Bitcoin transactions are faster and cheaper than most traditional banking services.
Decentralized system
Bitcoin is decentralized because it does not have a central authority. Each independent individual or company who interacts with Bitcoin becomes part of its vast network, which is situated on millions of independent computers. This is a pro for people who don't like to deal with banks or other financial institutions.
Brand recognition
Being the first and largest cryptocurrency in the world, Bitcoin is enjoying a much higher level of name recognition than any of the other smaller market cap cryptocurrencies. With an 11-year track record, Bitcoin has gained immense brand name recognition around the world. As an investor, this is something you want to keep in mind.
Early adoption
Although Bitcoin has already come a long way since its inception in 2009, most people are still unaware of its existence and of what exactly it is. As demand and adoption continue to rise, it is more likely that Bitcoin will stay on its upward path. For many investors, this can mean that the upside on Bitcoin can be mind-blowing. Today, investing in Bitcoin at the present value might be a once in a lifetime investment opportunity.
Relatively anonymous
Unlike banks, that know virtually everything about their clients, while trading with Bitcoin, your personal details remain relatively anonymous. However, it is important to know that Bitcoin isn’t fully anonymous, especially when it is linked to identifiable bank accounts.
The cons of Bitcoin
But it's important to keep in mind that investing in Bitcoin involves major risks.
Cons
Little to no regulatory oversight
For most experienced Bitcoin traders, the lack of regulatory oversight is not seen as a disadvantage. However, for those investors who take their first steps into the world of cryptocurrencies, this can be a daunting situation – especially when things go south.
Not widely accepted as payment
The majority of businesses are still completely oblivious to the use of Bitcoin as a payment system. Not many shops or service providers accept Bitcoin, although the number of those who do accept Bitcoin is on the rise.
Price remains volatile
Don’t forget that cryptocurrency is by nature a risky investment, and Bitcoin is no exception to that rule. But, for those investors able to stomach the risk and volatility, the upside on Bitcoin can be huge. Important: always do your own research.
Bitcoin alternatives
Let us take a closer look at how Bitcoin compares with other cryptocurrencies.
 |  |  |  | |
|---|---|---|---|---|
| Account | Bitcoin | Ethereum | XRP | Litecoin |
| Genius Rating | ||||
| Why You Want It | Make fast, 24/7 payments + Top performing asset class for 10 years. | Easily build and execute smart contracts + Decentralized design. | Energy-efficient, fast, and low-cost + Seamless cross-border payments. | 4x faster transactions and circulating supply than Bitcoin + Low fees. |
| Produced By Mining | | |  | |
| Decentralized | | | | |
| Limited Supply | | | | |
| Circulating Supply | 19,947,671 BTC | 120,696,447.97 ETH | 60,107,199,237 XRP | 76,515,470.73 LTC |
| Current Price | $144,340.67 | $4,895.53 | $3.48 | $141.42 |
Show More | ||||
| Open an account See more Bitcoin products Compare | Learn More See more Ethereum products Compare | Learn More See more XRP products Compare | Learn More See more Litecoin products Compare |
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FAQ
What is Bitcoin?
Bitcoin is the first and most popular cryptocurrency in the world. It is decentralized and peer-to-peer, meaning the transactions don't need to go through any sort of bank. Click here to learn more.
Is Bitcoin a good investment?
Bitcoin is strongly holding on to its position as the most popular cryptocurrency in the world and its future financial potential seems to be unstoppable. However, if you decide to invest in Bitcoin, make sure to list it under your high-risk, high-reward portfolio. Huge profits made with Bitcoin can be lost as quickly as gained if the value drops fast and hard.
Where can I buy Bitcoin?
Bitcoin can be purchased on various cryptocurrency exchanges such as Binance, Kraken, Bitbuy, and Coinbase. You can also buy Bitcoin directly from their website, if you are based in Quebec. Learning how to buy and store Bitcoin or any other cryptocurrency is going to be a very important step into the world of cryptocurrencies. There are multiple online guides that can help you buy Bitcoin.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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