$ETH
BTC stands for Bitcoin, the first and most well-known cryptocurrency. It is a decentralized digital currency that operates on a peer-to-peer network, meaning there is no central authority like a bank or government controlling it. Bitcoin transactions are verified through a process called mining, where powerful computers solve complex mathematical problems to confirm and record transactions on a public ledger known as the blockchain.
Created by an anonymous person or group under the pseudonym Satoshi Nakamoto in 2008, Bitcoin aims to provide an alternative to traditional fiat currencies by offering greater privacy, security, and financial independence. It can be used for various purposes, including online purchases, investment, and remittances.
Bitcoin's value is highly volatile, influenced by market demand, investor sentiment, and news events. Despite its volatility, Bitcoin has gained significant popularity over the years and is widely recognized as the leading cryptocurrency.
Many people view BTC as a store of value, similar to gold, due to its fixed supply of 21 million coins, which makes it resistant to inflation. While it has been controversial and subject to regulatory scrutiny, Bitcoin continues to evolve as a prominent player in the digital economy.
