Bitcoin Price in Canada | BTC Price CAD

Bitcoin functions via a network of nodes, miners and users.

Nodes enforce the network rules, e.g, Bitcoin's fixed supply of 21 million, and anyone connected to the internet can run a node.

Miners secure the network and compete to publish transactions to Bitcoin's public ledger. The block reward and transaction fees from users (both paid in bitcoin) motivate miners.

Users are able to send and receive bitcoin payments, or simply hold bitcoin as savings.

Bitcoin's decentralized nature makes it difficult to ban while "turning off" Bitcoin would require turning off the entire internet.

Satoshi Nakamoto released the Bitcoin Whitepaper in 2008, in the wake of the Global Financial Crisis. In the paper, Satoshi outlined his idea for “a peer-to-peer electronic cash system”. His work built upon decades of research and experimentation in computer science, cryptography, distributed systems, and digital currency.

The Bitcoin network launched in 2009 and the first block mined was dubbed "The Genesis Block". In the block, Satoshi famously included the headline "Chancellor on brink of second bailout for banks".

Bitcoin communities grew on forums and then Reddit, and some people saw Bitcoin's potential right away. When the price of Bitcoin was just $1, Hal Finney posted that "Bitcoin has the potential to become the dominant currency worldwide."

From 2015-2017 Bitcoin endured a period known as“The Blocksize War”involving a contentious debate over protocol rules. In the end, the Bitcoin network persevered and became stronger.

Today, as of writing,Bitcoin is the 9th largest asset in the worldas measured by market cap.

Bitcoin mining is an open competition where specialized computers compete to add valid transactions to Bitcoin's ledger. This process takes place approximately every 10 minutes, and the winning miner receives bitcoin as a reward.

The Bitcoin mining process requires a lot of computer power and electricity, making it a costly and competitive industry. If Bitcoin mining was a country, its energy consumption would be comparable to Argentina or the Netherlands.

About every four years, miners receive half as much Bitcoin for each block they mine. This event, known as the halving, repeats until we reach the year 2140, at which point miners will have mined all 21 million bitcoin. Following this, miners will compete solely for transaction fees.

The current Bitcoin block reward is 3.125, and will halve to 1.5625 in 2028.

Satoshi Nakamoto is the pseudonymous creator of Bitcoin. He first shared the Bitcoin Whitepaper in 2008 before launching the Bitcoin network on January 3, 2009. Satoshi remained involved with Bitcoin during it's early years, before disappearing without a trace in 2011.

Many have speculated on the true identity of Satoshi but no hard evidence points to any single person. Satoshi might have been a group of people, acting as an individual, and it is likely we will never know for sure. Whoever Satoshi is - or was - we're grateful for their contribution to humanity in Bitcoin.

"The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust" -- Satoshi Nakamoto

Beaver Bitcoin is among the easiest ways to buy bitcoin in Canada. Sign up, verify your account and provide us with a Bitcoin wallet address for receiving the bitcoin you purchase.

When you send funds to Beaver, we convert them to Bitcoin and transfer them to your Bitcoin wallet. Interac e-Transfer is the preferred payment method for a quick purchase that completes within minutes. For larger Bitcoin purchases we accept bill payment, wire transfer and bank transfer.

A Bitcoin wallet allows you to send, receive and secure your bitcoin. To be safe, secure your bitcoin using a wallet only you control, and do not leave your bitcoin on an exchange.

Bitcoin wallet software is available for both mobile and desktop devices. For ease, we recommendBlueWallet, available for iOS and Android. For more security, we recommend the Jade hardware wallet from Blockstream.

“Cold wallets” are not connected to the internet, unlike “hot wallets” that remain internet connected.