Since the beginning of 2021, Bitcoin has almost doubled in value. Since its emergence in 2009, the currency has seen ups and downs, but it is now attracting millions of investors. The biggest exchanges like Coinbase allow you to turn Bitcoin into US dollars and withdraw quickly. This hasn’t always been that easy. Here is how the BTC-USD exchange evolved over the past decade.

The First Service

The New Liberty Standard launched in 2009 was the first system for buying and selling. Back then, 1 US dollar was worth roughly 1,309.03 BTC. The rate was essentially based on electricity — i.e., the amount of energy mining required. 

Soon after creation, the service registered

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