$BITCOIN is a digital currency that exists only on the internet. It is called a cryptocurrency.
The biggest feature of $BITCOIN is that it is not controlled by any bank, government, or central authority.
$BITCOIN was launched in 2009 by an unknown person or group using the name Satoshi Nakamoto. Even today, no one knows who Satoshi really is, but this invention completely changed the global financial system.
↪️ It works on a peer-to-peer system, which means you can send money directly to another person without involving a bank.
Key features of Bitcoin
• The total supply of Bitcoin is limited to 21 million
• This makes Bitcoin rare
• It is less affected by inflation
• That’s why many people call it digital gold
How does Bitcoin work?
Bitcoin is based on Blockchain technology. A blockchain is a digital record book where every transaction is stored.
• Each transaction is secure
• Data cannot be changed
• Everything is transparent
New Bitcoins are created through a process called mining. In mining, powerful computers solve complex mathematical problems. In return, miners receive Bitcoin as a reward.
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