What is Bitcoin?

Bitcoin is a digital currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. It operates on a decentralized technology called blockchain, which ensures security and transparency in transactions.

Key crypto terms and what they mean

• Cryptocurrency: A digital or virtual form of currency that uses cryptography for security.
• Blockchain: A decentralized, distributed ledger that records all transactions made with a particular cryptocurrency.
• Wallet: A digital storage that holds cryptocurrency and allows users to send and receive it.
• Mining: The process of validating transactions and adding them to the blockchain using computational power.
• Exchange: A platform where users can buy, sell, and trade cryptocurrencies.
• Altcoin: Any cryptocurrency other than Bitcoin, like Ethereum or Litecoin.