What is Bitcoin?
Bitcoin is a digital currency that was created in 2009 by an unknown person using the pseudonym Satoshi Nakamoto. It is a decentralized form of currency that operates without a central authority or government involvement.
How Does Bitcoin Work?
Bitcoin transactions are verified by network nodes through cryptography and recorded on a public ledger called a blockchain. Transactions are added to “blocks” and added to the blockchain in a linear, chronological order.
Benefits of Bitcoin
Some of the benefits of using Bitcoin include lower transaction fees, anonymity, and the ability to make borderless transactions without the need for intermediaries.
Risks of Bitcoin
Despite its benefits, Bitcoin is not without risks. Some of the risks associated with Bitcoin include price volatility, security risks, and regulatory uncertainty.
