#StaySAFU "BTC" is the short name, or symbol, for Bitcoin.
Think of it like how "USD" stands for United States Dollar.
Bitcoin is a digital type of money, also called a cryptocurrency.
Here's a way to understand it:
* Digital: It only exists on computers and the internet, not as physical coins or paper money you can hold.
* Cryptocurrency: It uses special computer code (cryptography) to keep it secure and to make sure transactions are safe.
* Decentralized: Unlike the Sri Lankan Rupee or the US Dollar, which are controlled by a government or a bank, Bitcoin isn't controlled by any single person or organization. Instead, it relies on a network of computers around the world.
People use Bitcoin to:
* Send money to each other online: It can be faster and sometimes cheaper than traditional ways to send money, especially across borders.
* Buy things online and sometimes in stores: More and more businesses are starting to accept Bitcoin as payment.
* Invest: Some people buy Bitcoin hoping that its value will increase over time, like buying stocks.
It's important to know that the price of Bitcoin can go up and down quite a lot, so it can be a risky investment.
Right now, the price of one Bitcoin is around 23,575,625.16 Sri Lankan Rupees. This number changes all the time!