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What is Bitcoin and how does it work?

What is Bitcoin and how does it work? WHAT IS BITCOIN? What is Bitcoin? Bitcoin, often described as a cryptocurrency, a virtual currency or a digital currency - is a type of money that is completely virtual. How does Bitcoin work? 18 304,62 Each Bitcoin is basically a computer file which is stored in a 'digital wallet' app on a smartphone or computer. ly, Chai How do people get Bitcoins? There are three main ways people get Bitcoins. • You can buy Bitcoins using 'real' money. • You can sell things and let people pay you FUTURE with Bitcoins. 2 200 • Or they can be created using a computer. How are new Bitcoins created? In order for the Bitcoin system to work, people can make their computer process transactions for everybody. 799013 A Why are Bitcoins valuable? There are lots of things other than money which we consider valuable like gold and diamonds. The Aztecs used cocoa beans as money! Why do people want Bitcoins? Some people like the fact that Bitcoin is not controlled by the government or banks. Is it secure? Every transaction is recorded publicly so it's very difficult to copy Bitcoins, make fake ones or spend ones you don't own.

What is Bitcoin and how does it work?

shared by bitcoinarabic1 on Apr 13
Bitcoin often described as a cryptocurrency, a virtual currency, or a digital currency - may be a sort of money that's completely virtual. - What is Bitcoin? - How does Bitcoin work? - How do peopl...






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