What is Bitcoin (BTC)?

Sponsored by What's this? What Is Bitcoin? 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, thus removing the need for third-party involvement in financial transactions.

What is bitcoin and how does it work?

Bitcoin is one of the world’s largest cryptocurrencies, according to market capitalization. It’s a digital currency that works like real-world dollars and other currencies (called fiat) but is not regulated by a third party like banks, the government, or a company.

How to buy bitcoin?

For example, you can install an app on your mobile device for everyday use or you can have a wallet only for online payments on your computer. In any case, choosing a wallet is easy and can be done in minutes. You can get Bitcoin by accepting it as a payment for goods and services. There are also several ways you can buy Bitcoin.

Is bitcoin a centralized or a quasi-political system?

Decentralized: There is no third party or no CEO who controls the bitcoin network. The network consists of willing participants who agree to the rules of a protocol and changes to the protocol are done by the consensus of its users. This makes bitcoin a quasi-political system.