Bitcoin is the first and most famous cryptocurrency in the world. Let me give you a simplified explanation about it.
Basics of Bitcoin
Symbol: BTC
Launched in: 2009
Founder (unknown to this day): A person or group under the pseudonym "Satoshi Nakamoto"
The system it operates on: Blockchain technology
Features
1. Decentralized: It is not subject to the control of any government or central bank.
2. Limited supply: The maximum total of Bitcoin is only 21 million units.
3. Global money transfer: It can be sent and received anywhere in the world quickly (compared to traditional banking systems).
4. Security: Built on strong encryption that makes manipulation very difficult.
How to obtain Bitcoin?
1. Purchase through trading platforms such as: Binance, Coinbase, Kraken, and others.
2. Mining: Solving complex mathematical equations to verify transactions and earn Bitcoin rewards.
3. Receiving it as payment for selling products or services.
Risks to be aware of
High volatility: Bitcoin's price changes rapidly up and down.
Unstable legal regulation: Laws vary from country to country.
Individual responsibility: Losing the password or private keys may mean losing Bitcoin permanently.
