After buying Bitcoin, you might be wondering where to store them. The simplest way to store your Bitcoin is in a virtual wallet. There are, of course, other types of offline wallets. You can store your Bitcoin there too by transferring out of the exchange and into offline wallets. But more on wallets — online and offline — later!

Virtual wallets can be easily accessed by the user and are safe, as secure online exchanges also offer this service. Fasset Exchange, for example, has a secure online wallet for users to store and sell their Bitcoin and other cryptocurrencies with ease and efficiency.

2. Institutional Recognition and Adoption

Institutional adoption means that there are increasing numbers of established industry giants (like Paypal and Tesla) who are eager to open up their large user bases to Bitcoin.

Bitcoin has proven itself as a viable currency, and now large companies are storing Bitcoin in their treasuries as a hedge against inflation during crises. All this means is that Bitcoin is being recognized and, more importantly, adopted by large institutions around the globe.

The price of Bitcoin has always been a topic of discussion the world over. Crypto investors are ever curious about the direction prominent coins like Bitcoin and Ethereum are heading. One reason for this is because Bitcoin’s price has seen monumental growth.

Just take its price rise from March 2020 to March 2021 alone, which  hovered around $7,000 to hit new highs within the $55,000 mark. But Bitcoin’s price has shown a lot of volatility over the years, so let’s break down which key factors influence its price:

But Bitcoin’s price has shown a lot of volatility over the years, so let’s break down the answer of what factors influence bitcoin price.

User adoption rates have to do with the overall acceptance and support of Bitcoin by the global community. Signs that retail adoption is growing can be seen in increased buying of Bitcoin by investors, as more and more people realize the advantages of Bitcoin’s use as a highly efficient and cost-effective payment system.

Other Bitcoin features like blockchain-based security and no third-party involvement in transactions are catalysts in Bitcoin’s adoption growth too. The year 2017 saw Bitcoin’s adoption take huge leaps when the world recognized Bitcoin as an attractive store of value and investment.

Key factors influence its price