The BTC currency is short for Bitcoin, which is the first and most famous cryptocurrency in the world. Here’s a comprehensive overview:
🪙 What is Bitcoin (BTC)?
Bitcoin is a decentralized digital currency launched in 2009 by a person or group using the pseudonym Satoshi Nakamoto.
It is not subject to any central authority (like banks or governments).
It is used as a means of exchanging value online without the need for an intermediary.
🔐 How does it work?
It operates through a technology called blockchain, which is a distributed digital ledger that records all transactions transparently and cannot be manipulated.
Transactions are confirmed through a process called mining, which relies on complex computing to solve mathematical equations.
💡 Advantages of Bitcoin:
Decentralization: It is not controlled by any bank or single entity.
Transparency: All transactions are available to everyone on the blockchain.
Scarcity: The maximum number of bitcoins is only 21 million units.
Fast and global transfer: It can be sent to anyone in the world within minutes.
⚠️ Risks to be aware of:
High price volatility.
Fraud and wallet theft if not secured properly.
Different laws between countries regarding its use or trading.
💰 Can you invest in it?
Yes, many people consider Bitcoin digital gold and hold it as a long-term asset, while others use it for speculation and profit from price differences.
