What Is Bitcoin? Understanding Bitcoin
What Is Bitcoin? Bitcoin (BTC) is a cryptocurrency (a virtual currency) designed to act as money and a form of payment outside the control of any one person, group, or entity. This removes the need for trusted third-party involvement (e.g., a mint or bank) in financial transactions. It is rewarded to blockchain miners who verify transactions and can be purchased on several exchanges. Bitcoin was introduced to the public in 2009 by an anonymous developer or group of developers using the name Satoshi Nakamoto. It has since become the most well-known and largest cryptocurrency in the world. Its popularity has inspired the development of many other cryptocurrencies. Read on to learn more about the cryptocurrency that started it all—the history behind it, how to mine it, buy it, and what it can be used for. Key Takeaways Bitcoin is the end product of the work of many people, but it is generally accepted that Satoshi ...
