**1. Basics** Bitcoin (BTC), launched in 2009 by the pseudonymous Satoshi Nakamoto, is the first decentralized cryptocurrency. It operates without a central authority, relying instead on a peer-to-peer network and blockchain technology—a transparent, immutable public ledger.
**2. How It Works** - **Blockchain**: Transactions are grouped into blocks, cryptographically linked and secured via consensus mechanisms. - **Mining**: Miners use computational power to solve complex puzzles (proof-of-work) to validate transactions and earn BTC rewards. - **Wallets**: Users store private keys (digital passwords) in wallets to access and manage their Bitcoin.
**3. Security** - **Private Keys**: Loss or theft of keys means irreversible loss of funds. Use hardware wallets or secure storage. - **Irreversibility**: Transactions cannot be undone; caution is essential when sending funds. - **Exchange Risks**: Centralized exchanges are vulnerable to hacks; use reputable platforms and enable 2FA. #TariffsPause
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