1. What is Bitcoin?
A bitcoin is a digital asset or currency (just like our local or national currency we use in our daily like to buy or purchase something). But it is online value that people seenf or receive through internet. It didn't rely on any bank to process every transaction.
2. Who created Bitcoin?
It was created by a man or a group namely Satoshi Nakamoto.
It is firstly adopted cryptocurrency.
3. How does Bitcoin work?
It work through a technology named Blockchain.
Just like our bank app or bank keep the record of our transactions. Just like our bank statement. Blockchain is a record of our digital transactions shared acroos the network of computers.
When someone sends Bitcoin:
The transaction is broadcast to the network.
Network participants verify the transaction.
Valid transactions are added to the blockchain.
The transaction becomes part of Bitcoin public transaction history.
4. Why is Bitcoin special?
Some important trait of Bitcoin include:
Decentralization: Without a central bank it is controlling the network.
Limited supply: 21 million bitcoins is the maxium supply.
Transparency: Transactions can be checked on the public blockchain.
Global access: People can send or receive Bitcoin across borders/ countries using the network.
5. Final Words
About digital money and financial technology is introduced by the Bitcoin.
Firstly learn about basic, learn how it work. After learning it start with little investment and learn how to trade.
Next i will explain about spot and future trading.
Always remember knowledge comes before investment.
Is cryptocurrency will be used by countries for trading? Is cryptocurrency future is bright?
Share your thoughts in comments.
#bitcoin #cryptoeducation #blockchain #binacesquare #cryptoforbeginers