What is Bitcoin?

Bitcoin is the first decentralized global digital currency. Among other things, this means that it is completely computerized and does not exist in physical form.

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Bitcoin can be sent quickly and securely from anywhere in the world, and all you need is an internet connection. Its price is determined by the free market, subject to supply and demand.

Built on a decentralized network, it operates without any central control, including but not limited to bank or government oversight. It relies on open source and peer-to-peer software and cryptography. Known as blockchain, this technology is also completely transparent and immutable. Any change in it can be done only after majority consensus.

The consensus algorithm that powers Bitcoin's blockchain (also known as distributed ledger technology) is called proof-of-work.

Cryptocurrency can be stored in digital addresses that are spread across the Internet. To make it easy for regular users to stay safe, there are many digital wallet providers, each with a specific address where you can receive BTC.

As mentioned above, Bitcoin is based on open source technology, and many developers have contributed and continue to work on the protocol on a daily basis.