what is bitcoin?


Bitcoin (₿) is a decentralized digital currency that can be transferred on the peer-to-peer bitcoin network. Bitcoin transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. The cryptocurrency was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009 when its implementation was released as open-source software.-wikipedia

a type of digital currency in which a record of transactions is maintained and new units of currency are generated by the computational solution of mathematical problems, and which operates independently of a central bank.


What is Bitcoin used for?

Bitcoin was created as a way for people to send money over the internet. The digital currency was intended to provide an alternative payment system that would operate free of central control but otherwise be used just like traditional currencies.


How does bitcoin make money?

Key Takeaways. By mining, you can earn cryptocurrency without having to put down money for it. Bitcoin miners receive bitcoin as a reward for completing "blocks" of verified transactions, which are added to the blockchain.