What is bitcoin?

what is btc

Bitcoin is a decentralized peer to peer digital currency system. Bitcoins can be used for any sort of transaction anywhere in the world. Bitcoin has the following characteristics:

  • Decentralized means that there is no central authority like a central bank that issues bitcoins.
  • Peer to peer means that bitcoin transactions are verified by the global network of bitcoin users.
  • Bitcoins are based on cryptography and, when used properly, are extremely safe and secure.
  • Bitcoin transactions are irreversible, pseudo anonymous, cost very little, and are very fast.

These are just some of the facts about bitcoins. If you are interested in learning more about bitcoins please read about getting started with bitcoins.

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