What is Bitcoin?
The first and most well-known cryptocurrency, created by an anonymous person or group under the pseudonym Satoshi Nakamoto.
Key details
- Decentralized
- Not controlled by any central authority or government.
- Limited Supply
- Only 21 million bitcoins will ever exist.
- Pseudonymous
- Transactions are linked to addresses, not personal identities.
- Peer-to-Peer
- Transactions occur directly between users without intermediaries.
- Blockchain-based
- Uses blockchain technology to record all transactions.
Examples
- 01Used as a store of value, often referred to as 'digital gold'.
- 02Can be used for online purchases at businesses that accept Bitcoin.
- 03Facilitates cross-border transactions without traditional banking fees.