What is bitcoin & how to use it?

How to Mine, Buy, and Use It 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 makes Bitcoin a new type of money?

Due to the cryptographic nature of the Bitcoin network, bitcoin payments are fundamentally more secure than standard debit/credit card transactions. What makes Bitcoin a new kind of money? Bitcoin is global. You can send it across the planet as easily as you can pay with cash in the physical world.

What is the unit of account of bitcoin?

The unit of account of the bitcoin system is the bitcoin. Currency codes for representing bitcoin are BTC [a] and XBT. [b] : 2 Its Unicode character is ₿. One bitcoin is divisible to eight decimal places.

What is bitcoin capitalization?

The word "bitcoin" was defined the original white paper. It is a compound of the words bit and coin. No uniform convention for bitcoin capitalization exists; some sources use Bitcoin, capitalized, to refer to the technology and network and bitcoin, lowercase, for the unit of account.