When it comes to Bitcoin, there is a lot of confusion out there. People are not quite sure what it is, or how it works. In this article, we are going to take a closer look at Bitcoin and try to answer the question – what exactly is Bitcoin?
Bitcoin is a decentralized digital currency, which means that it is not subject to any government or financial institution. Bitcoin is created through a process called mining, in which computers solve complex mathematical problems in order to verify transactions on the Bitcoin network.
Once a transaction is verified, it is added to the blockchain, which is a public ledger of all Bitcoin transactions.
Bitcoins can be used to purchase goods and services online, or they can be held as an investment. The value of Bitcoin has fluctuated quite a bit over the years, but it has generally trended upwards.
So there you have it – that is what Bitcoin is and how it works. While it may still be somewhat confusing, hopefully this article has helped to clear things up a bit.