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.

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.

Is bitcoin a currency?

Bitcoin is classified as a Currency under CoinDesks Digital Asset Classification Standard (DACS). Bitcoin is the world’s first decentralized cryptocurrency – a type of digital asset that uses public-key cryptography to record, sign and send transactions over the Bitcoin blockchain – all done without the oversight of a central authority.

Is bitcoin divisible?

Bitcoin is highly divisible. You can hold, send, or receive fractions of a BTC. The smallest unit, i.e. 0.000 000 01 BTC, is called a “satoshi” or “sat.” As bitcoin’s value has risen, its easy divisibility has become a key attribute.