Bitcoin is a peer-to-peer payment system introduced as open source software in 2009 by developer Satoshi Nakamoto. The payments in the system are recorded in a public ledger using its own unit of account, which is also called bitcoin. While not considered a true currency, bitcoin is commonly referred to as a digital currency, virtual currency, electronic money, or cryptocurrency. The bitcoin system is not controlled by a single entity, like a central bank, which has led the US Treasury to call bitcoin a decentralized currency. Because bitcoins can be transferred directly from one person to another they are sometimes described as digital cash.

Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger. Called mining, individuals or companies engage in this activity in exchange for transaction fees and newly created bitcoins. Besides mining, bitcoins can be obtained in exchange for other currencies, products, and services. Users can send and receive bitcoins electronically for an optional transaction fee using wallet software on a personal computer, mobile device, or a web application.

Bitcoins like anything else has a market value as you can see in the ticker below one coin is equal to that amount making bitcoins a good investment to buy and hold or to start mining.

Bitcoin official website can be found hereĀ

There’s been a huge increase in the number of related industry websites and social media activity in recent times, with popular influencers like @TotalCrypto_io.