Bitcoin refers to a digital currency launched in 2009. People may also buy or sell bitcoins via multiple currencies on the prominent marketplaces, called the “bitcoin exchanges.”
Bitcoin refers to a digital currency, first introduced in January of 2009. It relies on the ideas presented in a whitepaper by Satoshi Nakamoto, a mysterious and pseudonymous figure. The identity of an individual or group behind the technology is not known yet. Bitcoin promises far lesser transaction costs than conventional online payment methods, and it is run by a decentralized authority, not like the government-issued currencies.

Cryptocurrencies, including Bitcoin, are a form of digital currency. There are no actual bitcoins; instead, balances get stored on a public ledger that anyone can see. Enormous computational power is required to verify all of the bitcoin-based transactions. Individual bitcoins are less valuable commodities since they are not distributed or guaranteed by any banks, financial institutions, or governments. Bitcoin is also ubiquitous and has sparked the development of hundreds of other cryptocurrencies known as altcoins. “BTC” is a common abbreviation for Bitcoin.

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