What Is Bitcoin?
Think of Bitcoin as cash for the internet. It was the first digital currency ever invented, introduced to the world in 2008 and launched a few months later in 2009. It lets you send money directly to someone else without needing a middleman.
It's worth noting that people usually write "Bitcoin" with a capital B when talking about the network or the technology, and "bitcoin" with a lowercase b when talking about the coins themselves. The ticker symbol you see on exchanges is BTC.
Unlike the dollars or euros in your wallet, which are printed and controlled by governments, Bitcoin is decentralized. This just means no single boss, bank, or government runs the Bitcoin network. It’s a peer-to-peer system.
Why do people like Bitcoin so much? You can own and control your money. You can use Bitcoin to send money anywhere, anytime, without relying on an intermediary. The system is also immune to double-spending attacks, so once you spend a coin, you can’t try to spend that same coin again somewhere else.
