What is Bitcoin

sucessinbusiness (33)in #accepted • 9 years ago

Bitcoin is a decentalized crytpo currency coin. Bitcoin has a peer to peer systeem and also can be traded on the tade exchange for cash. Bitcoin can also be transfered throug a bank account or a bitpay debit card.

Bitcoin is a form of cryptocurrency — or encrypted currency — that enables anonymous, independent, and non-regulated transactions. Cryptography allows for the secure ownership of the currency, which means that Bitcoin’s users can control the creation and transfer of money. Such a degree of privacy in transactions has helped Bitcoin gain a foothold as an alternative currency.

Decentralized means that a network of users control and verify transactions instead of a central authority such as a bank or government doing so.

Bitcoins are stored in a hard wallet which is a nano or a online wallet like coinbase . Transfers are done by wallet addresses which keeps track of each transcations with a code. You can view each transactions online or thru bitpay debit card