Assets, Bitcoin

How Do I Know if I Have a Bitcoin?

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.

Bitcoin is unique in that there are a finite number of them: 21 million.

NOTE: Warning: While it is possible to check if you have a Bitcoin, it is important to be aware that Bitcoin transactions are not reversible and you should always do your due diligence before engaging in any Bitcoin transactions. Additionally, there are potential risks associated with owning, trading and holding Bitcoins such as security risks and fluctuating markets. It is highly recommended to use caution when dealing with Bitcoin and to seek advice from professional financial advisors.

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.

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