What is Bitcoin (BTC)?

BTC definition: What is Bitcoin? Bitcoin is a form of digital currency that aims to eliminate the need for central authorities such as banks or governments. Instead, Bitcoin uses blockchain technology to support peer-to-peer transactions between users on a decentralized network.

How do I buy or sell bitcoin?

If you're looking to buy or sell Bitcoin, you have a handful of choices. But for most beginners, the simplest and most convenient option is using a cryptocurrency exchange. Some of these exchanges are operated by online stock brokerages, and others are independent.

What is bitcoin based on?

Bitcoin is based on the ideas laid out in a 2008 whitepaper titled Bitcoin: A Peer-to-Peer Electronic Cash System. The paper detailed methods for "allowing any two willing parties to transact directly with each other without the need for a trusted third party."

How do bitcoin transactions work?

Transactions are authenticated through Bitcoin’s proof-of-work consensus mechanism, which rewards cryptocurrency miners for validating transactions. Launched in 2009 by a mysterious developer known as Satoshi Nakamoto, Bitcoin (BTC) was the first, and remains the most valuable, entrant in the emerging class of assets known as cryptocurrencies.