The first bitcoin (BTC) transaction took place on January 12th, 2009 - when Satoshi Nakamoto, the pseudonymous inventor of the flagship cryptocurrency, sent 50 BTC to cryptographic activist, Hal Finney. The historic transaction between Satoshi and the late Finney was registered in block number 170 on Bitcoin’s ledger, and the cost to process the transaction was 0 BTC. In bitcoin’s early days, there were many other transactions that had negligible processing fees or were settled free of cost.
