Why Bitcoin?

With the advent of the digital age, and thanks to Satoshi Nakamoto’s vision, we are witnessing the evolution of a new form of money: Bitcoin - the only legitimate cryptocurrency secure enough for transacting at scale. Liquid, immune to counterfeit, and universal...bitcoin is simply better money.

What is Bitcoin?

An independent store of value

Purchasing power is determined by markets, outside of the control of or manipulation by any single entity

Secure, trusted currency

Bitcoin is immune to counterfeit, and although transactions are recorded on a public, auditable ledger, they cannot be altered.

Sound money

The supply of bitcoin is limited. It retains and accrues value over time and is resistant to inflation.

The best digital cash

Bitcoin is the world’s best money: universal, divisible, and transferable to anywhere in the world.

A brief history of Bitcoin

In the order of a few short years, Bitcoin has evolved from magic internet money to the world's best digital currency. In terms of market capitalization, it is the world’s 8th largest currency and is larger than many S&P 500 companies.

2009

In Santa Barbara, California, Hal Finney - noted cryptographic activist - receives the first bitcoin transaction from bitcoin’s creator.

2010

Laszlo Hanyecz completes the first ever transaction of bitcoin for physical goods: 10,000 bitcoin for two pizzas.

2011

Bitcoin reaches parity with the US dollar, with 1 BTC = $1 USD

2012

The first halving occurs, Bitcoin miners who contribute computing power to securing the network see their rewards reduced by half.

2013

Bitcoin’s market capitalization reaches $1 billion USD

2014

Microsoft, Dell, and Expedia start accepting bitcoin , paving the way for big business adoption.

2015

The Bitcoin Lightning Network white paper is published, with focus on enabling fast bitcoin transactions at scale.

2016

The second halving occurs.

2017

Segregated Witness (SegWit) - a Bitcoin protocol update - is activated, helping to scale the network and increase privacy.

2018

OpenNode launches “a bitcoin payments platform for every day use”.

2019

Lightning Network goes live on the Bitcoin Mainnet.

2020

In the context of a global economy challenged by the COVID-19 pandemic, Bitcoin price soars and institutions step up support.

2021

El Salvador becomes the world's first country to make Bitcoin legal tender.

Bitcoin payments and payouts

OpenNode supports two ways to accept bitcoin payments and send bitcoin payouts.

Lightning Network

The Lightning Network enables instant, lowest-cost bitcoin transactions at scale. Lightning is a “second layer” protocol that makes efficient “off-chain” processing of bitcoin transactions possible.
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Why Use Bitcoin?

Universal

Anyone with internet access can send and receive bitcoin, wherever they are.

Private

Bitcoin payments are a transfer of value, not personal data that allows an entity to move money on your behalf.

Trusted

Bitcoin network security has never been compromised, and is growing in legitimacy and value.

Interoperable

Bitcoin technology is owned by no one and inclusive of everyone. By design, OpenNode payments are compatible with all Bitcoin wallets.

Benefits of Bitcoin for business

Secure and maturing

The Bitcoin blockchain is decentralized and cryptographically sound. A decade on, the network has never been compromised.

Growing adoption

Bitcoin has meaningful consumer and institutional adoption, and benefits from strengthening liquidity and network effects.

Global reach

Like the Internet before it, Bitcoin is digital and works flawlessly and efficiently across borders.

Lowest cost payments

With no required intermediaries, no fraud, and no chargebacks, bitcoin payments offer the best economics of any payment method.

Instant settlement

Truly instant settlment is made possible by breakthrough technologies, not dependent on legacy infrastructure.

Knowledge is power.

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