Bitcoin is a digital asset designed to work as a medium of exchange that uses cryptography to control it’s creation and management. It originated in 2009 and is open source, it’s design is public, nobody owns or controls Bitcoin and everyone can use it. So in simple terms Bitcoin is a digital currency which is decentralised, there is no central bank or administration to control them and can be sent from one user to other user on the peer-to-peer bitcoin network without needing intermediaries.
Bitcoins are created as a reward for process known as mining. Bitcoin can be exchanged for other currencies, products or services. Bitcoins have been used as an investment by many individuals and firms although it is normally criticised due to it’s high price volatility. Some individuals and firms also trade Bitcoin similar to stocks on exchange and earn good profits…. #invest #newweek #cryptocurrencies #money #bitcoin