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 a cryptocurrency coin?

The key feature of a coin is that of a currency, and the term may also be used to describe a cryptocurrency asset that is not a token. Unlike cryptocurrency tokens, coins are not intended to serve utility functions - such as to represent votes within a community or to denote storage capacity on a decentralized cloud storage.

What is a coin & how does it work?

Unlike cryptocurrency tokens, coins are not intended to serve utility functions - such as to represent votes within a community or to denote storage capacity on a decentralized cloud storage. Instead, a coin operates on its own independent blockchain and acts like a native currency within a specific financial system.

What is a bitcoin wallet?

While wallets are often described as a place to hold or store bitcoins, due to the nature of the system, bitcoins are inseparable from the blockchain transaction ledger. A wallet is more correctly defined as something that "stores the digital credentials for your bitcoin holdings" and allows one to access (and spend) them.