Bitcoin

Bitcoin

What is Bitcoin

Bitcoin, also known as BTC, is the world's first and largest decentralized digital currency. Decentralized means that it is not supported, controlled or owned by any government entity, central bank, company or institution.

Bitcoin is managed by a computer program that anyone with access to the Internet can download and use to monitor and verify transactions. Compare that to the dollar, for example, which is backed by the US government and regulated by the US Federal Reserve.

Today, Bitcoin is considered one of the most famous digital currencies in the world, in addition to being a digital payment system known as the first decentralized digital currency because it is owned by its users without being affiliated with a central authority or intermediaries. From the point of view of its user, Bitcoin is nothing more than a mobile application or computer program that provides him with a personal Bitcoin wallet and allows him to transfer or receive Bitcoin through it. This is how Bitcoin works for most users.

By the end of April 2017, the total value of Bitcoin in existence exceeded $20 billion, with millions of dollars worth of Bitcoin being bought and sold daily. Its spread is also increasing rapidly because it solves many of the problems facing other forms of paper currencies.