What is bitcoin and how does it work?

- Bitcoin 101 What is Bitcoin? Bitcoin is a new type of digital money and, just like with all money, you can store it, exchange it, and make payments with it. The key to what makes Bitcoin different from national currencies like the US Dollar, the Euro or the Japanese Yen lies in its decentralized structure and opt-in model. What does that mean?

How is Bitcoin distributed?

Distributed: All Bitcoin transactions are recorded on a public ledger that has come to be known as the 'blockchain.' The network relies on people voluntarily storing copies of the ledger and running the Bitcoin protocol software.

How to get started with Bitcoin?

Getting started with Bitcoin 1 Inform yourself. Bitcoin is different than what you know and use every day. 2 Choose your wallet. Free bitcoin wallets are available for all major operating systems... 3 Get Bitcoin. You can get Bitcoin by accepting it as a payment for goods and services. 4 Spend Bitcoin. There are a growing number of services...

What is a bitcoin ecosystem?

All the participants in this system have consensus on the following − Bitcoin was the first practical implementation of blockchain technology and is currently the most significant triple entry bookkeeping system globally. In a bitcoin ecosystem, access to entire source code is available to everyone always and any one can review or modify the code.