Bitcoin, the pioneering decentralized digital currency, operates on a peer-to-peer network utilizing blockchain technology. It allows for secure, verifiable...
Bitcoin is a decentralized digital currency, or cryptocurrency, created in 2009. It allows for secure, peer-to-peer transactions without a central authority, recorded on a public ledger called a blockchain.
Individuals primarily acquire Bitcoin through cryptocurrency exchanges, where they can trade traditional currencies (like USD or EUR) for Bitcoin. It can also be earned through 'mining' or received as payment for goods and services.
Bitcoin mining is the process by which new bitcoins are introduced into circulation and transactions are verified and added to the blockchain. Miners use powerful computers to solve complex mathematical problems to validate transaction blocks.
Bitcoin's value is highly volatile and subject to rapid price fluctuations, making it a high-risk investment. While it has seen significant growth, potential investors should understand the risks, including market volatility and regulatory changes.