Assets, Bitcoin

What Is 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 under the name Satoshi Nakamoto and released as open-source software in 2009.

NOTE: Warning: Bitcoin is a decentralized digital currency, not backed by any government or financial institution. As such, it carries a high degree of risk and volatility, and it is important to understand the potential risks before investing any money into Bitcoin. As with any investment, there is always the potential for gains as well as losses and you should never invest more than you can afford to lose. Be sure to do your own research and consult a financial professional before investing 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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