Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. The network is peer-to-peer and transactions take place between users directly, without an intermediary.
These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.Bitcoin can be purchased through a digital marketplace, through which you can fund your account with your currency of choice, and place an order on the open market.
Bitcoin exchanges work similarly to traditional stock exchanges, where buyers and sellers trade at current market prices. When your order is filled, you will own the amount of bitcoin that you purchased minus any fees paid to the exchange.
The easiest way to invest in Bitcoin is to purchase it through a digital marketplace. You can fund your account with your currency of choice and place an order on the open market.
When your order is filled, you will own the amount of bitcoin that you purchased minus any fees paid to the exchange. Bitcoin exchanges work similarly to traditional stock exchanges, where buyers and sellers trade at current market prices.