Assets, Bitcoin

Is Bitcoin Encrypted?

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: Bitcoin is not a completely secure form of encryption. Its underlying technology, the blockchain, is open and public, meaning anyone can view transactions. Additionally, while bitcoin transactions themselves are encrypted, it is possible for hackers to gain access to wallets and other information associated with bitcoin accounts. As such, users should take extra care to protect their wallets and other sensitive information related to their bitcoin accounts.

As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.

Bitcoin isEncrypted?

Yes, Bitcoin is encrypted.

Previous ArticleNext Article