Back to Glossary
₿
Bitcoin
Bitcoin•blog.difficulty.beginner
Bitcoin is the first and most well-known cryptocurrency, created in 2009 by an anonymous person or group using the name Satoshi Nakamoto.
Simple Explanation
Bitcoin is digital money that exists only on the internet. Like cash, you can use it to buy things or send it to other people, but unlike traditional money, no bank or government controls it.
Key Features
- Limited Supply: Only 21 million bitcoins will ever exist
- Decentralized: No central authority controls it
- Peer-to-Peer: Send directly to anyone without intermediaries
- Divisible: Can be divided into very small units (satoshis)
Example
If you want to send money to someone in another country, instead of using a bank (which takes days and charges fees), you can send Bitcoin directly to them in minutes.