Assets, Bitcoin

What Is an Example of 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 was invented by an unknown person or group of people using the name Satoshi Nakamoto in 2008.

NOTE: WARNING: Bitcoin is a virtual currency, and it is not regulated by any government or financial institution. Furthermore, there is no guarantee of its value. Investing in Bitcoin can be extremely risky and you should always research and understand the risks associated with investing before engaging in it. You may lose all the money you invest in bitcoin.

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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