What Is Bitcoin?



Bitcoin is an international digital currency. It is open-source and nobody controls or owns it. Bitcoins aren’t printed, like dollars or euros, but are maintained by a community of open-source developers. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen.

Bitcoin is notable for a number of advantages:

  • it is easy (person to person), you can send bitcoins using your computer, tablet, smartphones, or any other device to anyone, anywhere in the world.
  • extremely fair minimal fees (less than 3 cents for every transaction)
  • it is secure, transactions are verified with state-of-the-art encryption
  • it is open-source (fully decentralized)

To avail the advantages of bitcoin you need to use a bitcoin wallet (to send and receive bitcoins) and use the services of bitcoin exchanges (to buy and sell bitcoins, i.e. to convert them to your local currency).

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