*What is Bitcoin?*
Bitcoin is a cryptocurrency created in 2009 by an unknown person or group of people under the name Satoshi Nakamoto. Bitcoin is based on blockchain technology, which is a decentralized network that allows users to send and receive Bitcoin without the need for traditional financial intermediaries.
*Features of Bitcoin*
- *Decentralization*: Bitcoin is not subject to the control of any government or central bank.
- *Security*: Bitcoin relies on encryption technology to protect transactions and ensure the security of the network.
- *Transparency*: All transactions are recorded on a public blockchain that anyone can access.
- *Scarcity*: The maximum total number of Bitcoin is 21 million units.
*Uses of Bitcoin*
- *Payment*: Bitcoin can be used as a payment method in many stores and businesses.
- *Investment*: Bitcoin is considered a potential investment due to its price volatility.
- *Financial Transfers*: Bitcoin can be used to send money across borders at a low cost. $BTC