You can use it to buy. It s like an online version of cash. Bitcoin often described as a cryptocurrency a virtual currency or a digital currency is a type of money that is completely virtual.
1 it is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer to peer bitcoin network without the need for. Bitcoin is a cryptocurrency invented in 2008 by an unknown person or group of people using the name satoshi nakamoto and started in 2009 when its implementation was released as open source software. It is governed by a design decision by the developers of the core technology to limit its production to a fixed quantity of 21 million btc.
Bitcoin has properties that make it similar to gold. Bitcoin s perceived value sways one reason why bitcoin may fluctuate against fiat currencies is the perceived store of value versus the fiat currency. To get started acquire some bitcoin from an online exchange.
By avoiding banks and payment processors bitcoin developed a decentralized worldwide market that requires only an internet connection and an investment of fiat currency national currency if you want to participate. Bitcoin was the first digital currency to eliminate the middleman.
