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Bitcoin is a decentralized digital payment system and currency. It was created by a person or group, going by the username Satoshi Nakamoto, who posted a whitepaper on a discussion board.
Bitcoin operates without a financial system or government authorities and doesn't require the involvement of financial institutions. It can be used as an alternative to fiat currencies or as an investment bought through crypto exchanges. It utilizes peer-to-peer transfers on a digital network that records and secures all transactions. This network uses a blockchain, an open-source program that chains transaction histories to prevent manipulation.
#BinanceHODLerMOVE
Bitcoin is a decentralized digital payment system and currency. It was created by a person or group, going by the username Satoshi Nakamoto, who posted a whitepaper on a discussion board.
Bitcoin operates without a financial system or government authorities and doesn't require the involvement of financial institutions. It can be used as an alternative to fiat currencies or as an investment bought through crypto exchanges. It utilizes peer-to-peer transfers on a digital network that records and secures all transactions. This network uses a blockchain, an open-source program that chains transaction histories to prevent manipulation.
#BinanceHODLerMOVE
$BTC
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Table of Contents
Cryptocurrency
Bitcoin
How Does Bitcoin Work? Definition and How to Invest
By
David Floyd
Updated October 11, 2024
Reviewed by Julius Mansa
Fact checked by
Pete Rathburn
Part of the Series
Bitcoin Basics

d3sign / Getty Images
What Is Bitcoin?
Bitcoin is a decentralized digital payment system and currency. It was created by a person or group, going by the username Satoshi Nakamoto, who posted a whitepaper on a discussion board.
Bitcoin operates without a financial system or government authorities and doesn't require the involvement of financial institutions. It can be used as an alternative to fiat currencies or as an investment through crypto exchanges, utilizing peer-to-peer transfers on a digital network that records and secures all transactions. This network is powered by a blockchain, an open-source program that chains transaction histories to prevent manipulation.
#Share1BNBDaily
Skip to content
Trade
Table of Contents
Cryptocurrency
Bitcoin
How Does Bitcoin Work? Definition and How to Invest
By
David Floyd
Updated October 11, 2024
Reviewed by Julius Mansa
Fact checked by
Pete Rathburn
Part of the Series
Bitcoin Basics

d3sign / Getty Images
What Is Bitcoin?
Bitcoin is a decentralized digital payment system and currency. It was created by a person or group, going by the username Satoshi Nakamoto, who posted a whitepaper on a discussion board.
Bitcoin operates without a financial system or government authorities and doesn't require the involvement of financial institutions. It can be used as an alternative to fiat currencies or as an investment through crypto exchanges, utilizing peer-to-peer transfers on a digital network that records and secures all transactions. This network is powered by a blockchain, an open-source program that chains transaction histories to prevent manipulation.
#Share1BNBDaily
$BTC
Bitcoin (BTC) is a cryptocurrency (a virtual currency) designed to act as money and a form of payment outside the control of any one person, group, or entity. This removes the need for trusted third-party involvement (e.g., a mint or bank) in financial transactions.
How Bitcoin Started
In October 2008, Nakamoto announced to the cryptography mailing list at metzdowd.com: "I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party." The now-famous white paper published on Bitcoin.org, entitled "Bitcoin: A Peer-to-Peer Electronic Cash System," would become the Magna Carta for how Bitcoin operates today
#Share1BNBDaily
Bitcoin (BTC) is a cryptocurrency (a virtual currency) designed to act as money and a form of payment outside the control of any one person, group, or entity. This removes the need for trusted third-party involvement (e.g., a mint or bank) in financial transactions.
How Bitcoin Started
In October 2008, Nakamoto announced to the cryptography mailing list at metzdowd.com: "I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party." The now-famous white paper published on Bitcoin.org, entitled "Bitcoin: A Peer-to-Peer Electronic Cash System," would become the Magna Carta for how Bitcoin operates today
#Share1BNBDaily
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