3. **Decentralization:** Unlike traditional currencies, Bitcoin operates on a decentralized system where transactions occur directly between users without an intermediary.
### Key Features
- **Decentralized:** No single entity controls the Bitcoin network.
- **Transparent:** All transactions are recorded on the blockchain and are publicly accessible.
- **Immutable:** Once recorded on the blockchain, transactions cannot be altered or deleted.
- **Pseudonymous:** Transactions and accounts are not tied to real-world identities.
### Usage
- **Digital Payments:** Bitcoin can be used to purchase goods and services from vendors that accept it as payment.
- **Investment:** Many people buy Bitcoin as a long-term investment, hoping that its value will increase over time.
- **Remittances:** Bitcoin can be used for cross-border transactions, often at a lower cost and faster speed than traditional banking systems.