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Binance Word of the Day
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Binance Word of the Day $BTC
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Binance Word of the Day $BTC $ETH $BNB
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Binance Word of the Day $BTC $ETH $BNB
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Binance Word of the Day $BTC $XRP $SOL
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$ETH $BTC Bitcoin ($BTC) is a decentralized digital currency that allows people to send and receive money over the internet without relying on banks or governments. It was introduced in 2009 by an anonymous person (or group) using the name Satoshi Nakamoto. Here’s a breakdown in simple terms: Decentralized: There's no central authority like a bank. Instead, Bitcoin operates on a network of computers (called nodes) that all agree on transaction history using a shared digital ledger called the blockchain. Digital and Limited: It exists only electronically, and there will only ever be 21 million bitcoins, making it scarce and often compared to digital gold. Secure and Transparent: Every Bitcoin transaction is recorded on the blockchain, which anyone can view. Transactions are verified by a process called mining, which involves solving complex math problems. Use Cases: People use Bitcoin as a store of value, a hedge against inflation, or a way to transfer money across borders with relatively low fees and without intermediaries. In essence, Bitcoin is a combination of technology, cryptography, and economic incentives—reshaping how we think about money and ownership in the digital age.
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