A year and a half ago, the idea of buying the virtual currency bitcoin was laughable. After a rapid rise in value in 2013, the cryptocurrency’s value more than halved by mid-2015.
At its lowest point, one bitcoin was equal to about $230.
But now Bitcoin is at an all-time high, and rising. Within the last month, the price of one bitcoin has climbed from $1,280 to around $1,480.
Given the currency’s covert nature, the average person still may not understand how buying and selling actually works.
Using the app Coinbase, which lets anyone trade bitcoins for a small fee, we decided to find out.