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* All information is without guarantee of correctness and completeness.

What is Bitcoin?

Bitcoin (also known as BTC) is a digital cryptocurrency that launched in January 2009. Unlike other currencies, it does not exist physically. It is only stored as balances on a large online database called a blockchain. This blockchain is shared over a very large number of computers and is not stored in one place.

The network, known as a blockchain, securely encrypts all transactions on the ledger. These transactions are then verified by other users to make sure that they are accurate and not fraudulent. To gain access to your Bitcoins, you need a special code that only you know. All of this together is known as cryptography, making Bitcoin a cryptocurrency.

The Blockchain network requires no middle man or bank to confirm transactions. You can instantly make an account without providing any personal details. Because there is no central authority and the currency is purely digital, Bitcoins can be sent to anyone around the world quickly and with extremely low fees.

To begin with, Bitcoins could be purchased from holders of the currency through forums and direct trades between the buyer and seller. Now there is a large industry of exchanges that are increasingly regulated with Know Your Customer checks and verifications.

About Bitcoin
Bitcoin functionality

Bitcoin as an investment

For many people, Bitcoin is used as a long or short term investment. It gained significant exposure and popularity in 2017 when its price skyrocketed from around $1000 to $20,000. It's popularity for investing has increased ever since, with banks, investment firms, and the general public all now holding Bitcoin.

Bitcoin Market Cap

Bitcoin as a digital currency

Bitcoin is also regularly used to pay for items online, in shops, or for other services. It's becoming more widely accepted, and you can even find restaurants and bars that will accept Bitcoin as a form of payment.

Bitcoin history
Bitcoin Market Cap

Accessing your Bitcoin funds

To store or make any transaction with Bitcoin, a wallet is needed. The wallet acts like an online bank account where you can access your balance and send or recieve coins. It's made up of two parts: a public key and a private key. Your public key works as an address to send Bitcoins to, and your private key acts like a password to gain access to your account.

Do not miss out this time. It's never been easier to invest in Bitcoin.

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