A truly international and multi-platform payment system established in 2011, Bitcoin (BTC) is currently the best-known cryptocurrency. Its price rose from about $0.003 to more than $20 at the time of writing this article an increase of about 1,400% in roughly four years. Several other altcoins' were also created with the express purpose of competing with Bitcoin.

It is estimated that there are more than 1.7 million Bitcoin wallets with a combined value of about $10 trillion. That's a lot of money and a lot of wallets!

So, why should you care about Bitcoin and other cryptocurrencies? Let's find out, shall we?

The Growth Of Cryptocurrencies

The first coins were created in 2008 and 2009 to replace the declining value of the US dollar as measured in gold. Many people still remember the financial crisis' of 2008 and the collapse of the subprime mortgage market. Home loan approval was increasingly difficult to come by and many people were finding themselves in a situation where they could no longer afford to pay their mortgages. The solution was to find some way to keep their homes and retain some level of value. That's where cryptocurrencies come in.

Since then, the market has exploded with new cryptocurrencies being created to solve problems that people are having today. Some of the more notable and successful cryptocurrencies are:

• Bitcoin (BTC)
• Ethereum (ETH)
• Ripple (XRP)
• Litecoin (LTC)
• Dash (DASH)
• Tradedoubler (TRD)
• Monero (XMR)
• Next (NXT)
• Bitex. (BTX)

You can view the entire crypto market cap market as at any given moment in time here: https://coinmarketcap.com/currencies/overview/

What Is A Cryptocurrency Wallet?

When you hold Bitcoin in your wallet, you hold the private key that gives you access to all of its functions. The same goes for all other major cryptocurrencies. A Bitcoin wallet is simply a device that maintains a secure record of your accounts and assets, protecting them from unauthorized access and providing you with detailed information about your holdings at any given moment. Furthermore, many cryptocurrency wallets also provide you with tools to perform various Bitcoin functions such as sending and receiving money, voting or contributing to the development of new cryptocurrencies.

The Pros And Cons Of Cryptocurrencies

One of the best things about cryptocurrencies is the level of security they provide. Due to the nature of distributed ledgers and the fact that all Bitcoin wallet addresses are publicly available, sending and receiving funds with Bitcoin is very easy. This, in turn, makes it very difficult for hackers and cybercriminals to snatch' your assets. Of course, this security comes with its downfalls too. Since much of the value of cryptocurrencies is based on speculation and many people are still learning about cryptocurrencies and their risks, attempting to enter into the market with very little capital can prove to be extremely risky. Additionally, many large organizations and financial institutions have begun to recognize the threat that cryptocurrencies pose to their financial model and are vowing to crack down on cryptocurrency adoption.

For a more comprehensive list of pros and cons of cryptocurrencies, be sure to check out this article from Bitcoin.com: https://btc.com/en/articles/2018/12/29/why-you-should-care-about-the-pros-and-cons-of-cryptocurrencies/

Where Can I Buy And Sell Bitcoin (BTC)?

If you want to get involved in cryptocurrencies, the first thing you'll want to do is figure out where to buy and sell them. Most likely, you'll want to avoid dealing with exchanges and instead will move directly from your wallet to a merchant or buyer. Doing so will ensure the safety of your assets and minimize any transactions fees you may have to pay. You can find many places online where you can purchase BTC with a credit card:

• Coinbase (Coinbase)
• ShapeShift (ShapeShift)
• Kcash (Kcash)
• EtherDelta (EDelta)
• OEXO (OEXO)
• AlphaPoint (APOLLO)
• Wings (WINGS)

If you want to make purchases with cash, many large Bitcoin-accepting businesses and retailers will also provide you with a merchant account where you can accept digital currencies as a form of payment. Here are some of the most popular places to buy and sell Bitcoin:

• LocalBitcoins.com - LocalBitcoins makes it easy for anyone to buy or sell Bitcoin with cash, helping to remove the middleman and ensuring you stay away from any unnecessary charges. Also, if you're new to Bitcoin, you can use LocalBitcoins to easily learn the ropes.
• Binance.com - The world's largest Bitcoin bityx by volume, Binance offers more than 100 coins for purchase with Bitcoin. Likewise, you can use Bitcoin to exchange for more than 100 cryptocurrencies, including Dash, Ethereum and other leading coins. Thanks to its unique feature allowing for the creation of your own cryptocurrency wallet, Binance is a must-visit for every new user.
• Bitstamp.com - The world's third-largest Bitcoin exchange by volume, Bitstamp also accepts payments in more than 100 different cryptocurrencies. What's more, its platform enables users to easily create their own cryptocurrency wallets so they can keep their assets in a safe and secure location.
• Bitflyer.com - With a license as a Cryptocurrency Exchange in Japan and a headquarters in Singapore, BitFlyer is one of the most trusted and reputable places to buy and sell Bitcoin. All major credit cards are accepted, including American Express, Discover and Visa.
• Gate.io - As the name would suggest, Gate.io is a one-stop-shop for all of your cryptocurrency purchase and trade needs. With its London headquarters and Chicago office, the company operates in more than 20 countries with more than 10,000 employees. What's more, Gate.io helps to make Bitcoin available to even more people by offering a cash-back promo code for every Bitcoin purchase. That's right the more you buy, the more you save!
• Coins.com - A top crypto merchant bank featuring more than 100 virtual currencies, Coins.com allows users to buy and sell all of these currencies with ease. In addition to its robust platform and user-friendly design, Coins.com also offers an escrow service for transactions performed online.

As you can see, there are many places where you can purchase and sell Bitcoin (BTC). If you follow the right steps avoiding exchanges where possible and moving directly to a merchant or buyer as much as possible you can ensure that you keep your assets safe and that you minimize your financial losses(in the event of ahack).