Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain.
Bitcoin is unique in that there are a finite number of them: 21 million.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.
NOTE: WARNING: Investing in Bitcoin carries significant risk. There is no guarantee of a dividend, or any other return on investment, on Bitcoin investments. The value of Bitcoin can fluctuate significantly, and there is always the risk of complete loss of the invested amount. Please conduct thorough research before investing in Bitcoin, and never invest more than you can afford to lose.
As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.
Bitcoin can be used to pay online and in physical stores just like any other form of money. Bitcoins can also be exchanged in physical form such as the Casascius coins, but paying with a mobile phone usually remains more convenient.
Bitcoin balances are kept using public and private “keys,” which are long strings of numbers and letters linked through the mathematical encryption algorithm that was used to create them. The public key (comparable to a bank account number) serves as the address which is published to the world and to which others may send bitcoins.
The private key (comparable to an ATM PIN) is meant to be a guarded secret, and only used to authorize Bitcoin transmissions.
5 Related Question Answers Found
Bitcoin stock does not pay dividends. Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
When it comes to earning free bitcoins, there are plenty of ways to go about it. Bitcoin faucets, games, and even watching videos can earn you a decent amount of satoshis (the smallest fraction of a Bitcoin that can currently be sent), but one particular app has been getting a lot of attention lately: Free Bitcoin. Free Bitcoin is an Android app that lets you earn satoshis by playing games, viewing ads, and completing simple tasks.
When it comes to investing in Bitcoin, there are a few different strategies that investors can use. One popular strategy is known as dollar cost averaging. So, does dollar cost averaging work with Bitcoin?
Bitcoin wallets are software that allows you to interact with the Bitcoin network. In order to use Bitcoin, you need a wallet. Wallets come in many forms, including web-based, mobile, desktop, and hardware wallets.
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.[7] Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million. Bitcoins are created as a reward for a process known as mining.
