Home / Money and Business, Currencies / Bitcoin Bitcoin Written by: Hanadi Fathi Sammour Last updated: 15:24, May 18, 2023 Contents 1 What is Bitcoin? 2 How does Bitcoin work? 3 How to buy Bitcoin 4 Advantages of Bitcoin 5 Disadvantages of Bitcoin 6 History of Bitcoin 7 Related References Bitcoin Legality of Bitcoin Trading in Egypt What is Bitcoin? Bitcoin (in English: Bitcoin), which is referred to as (BTC) for short, is a virtual electronic digital currency that is generally used to purchase products and obtain various services, such as purchasing furniture from stores or booking hotels from parties that deal in this currency and trade in it. It is mentioned that it is the first digital currency to achieve widespread success and popularity. [1] How does Bitcoin work? The working principle of Bitcoin is generally based on what is known as Blockchain technology,[2] which are decentralized electronic databases that allow the information within them to be shared directly and securely with customers.[3] Video you may like: Customers can add Bitcoins directly to their account or spend them without the need for a third party to complete the process, such as banks or otherwise. Bitcoin is an open platform, and it is not boring%88%D9%8A