What is Bitcoin? What is BTC?

What is Bitcoin: The world's first widely adopted cryptocurrency. With Bitcoin, people can send digital money to each other securely and directly over the internet.

Bitcoin was created by an anonymous person or group of people going by the pseudonym Satoshi Nakamoto, who outlined the technology in a 2008 white paper. It's an appealingly simple concept: Bitcoin is a digital currency that can be traded securely peer-to-peer over the internet.

Unlike services like Venmo and PayPal, which rely on the traditional financial system to transfer money and use existing debit/credit accounts, Bitcoin is decentralized: any two people anywhere in the world can send Bitcoin to each other without the involvement of a bank, government, or other institution.

Every Bitcoin transaction is tracked on a blockchain, which is similar to a bank's ledger, or a log of customer funds moving in and out of a bank. In short, it records every transaction ever made using Bitcoin.

Unlike a bank's ledger, the Bitcoin blockchain is distributed across the entire network. No company, country, or third party can control it; anyone can be part of the network.

There will only ever be 21 million Bitcoins. This is a digital currency that cannot be inflated or manipulated in any way.

It is not necessary to buy a whole Bitcoin: you can buy just a fraction of one Bitcoin if you want or need to.

What is BTC: BTC is short for Bitcoin.

Is Bitcoin a cryptocurrency?

Yes, Bitcoin is the first widely adopted cryptocurrency, which is just another way of saying digital currency.

Is there a simple Bitcoin definition?

Bitcoin is a decentralized digital currency used for peer-to-peer encrypted transactions without a central bank

What is the price of Bitcoin?

The current price of Bitcoin can be found on Coinbase's website.

Is Bitcoin an investment opportunity?

Like any other asset, you can make money by buying BTC low and selling it high, or lose money in the opposite case.

What was the starting price of Bitcoin?

In early 2010, one Bitcoin was worth less than a penny. In the first quarter of 2011, Bitcoin broke through $1. Bitcoin's value surged in late 2017, peaking at nearly $20,000 before finally topping $64,899 in November 2021. You can track Bitcoin's price here.

Bitcoin is a decentralized digital currency used for peer-to-peer encrypted transactions without the need for a central bank.