Understanding Bitcoin and How to Make Money from It
1. What is Bitcoin? Bitcoin (BTC) is the first and most well-known cryptocurrency, introduced in 2009 by an anonymous person or group using the pseudonym Satoshi Nakamoto . It is a decentralized digital currency that operates without a central bank or government. Bitcoin transactions are verified by network nodes through cryptography and recorded on a blockchain —a public ledger. Key Features: Decentralized: No central authority controls it. Limited Supply: Only 21 million bitcoins will ever exist. Peer-to-Peer: Transactions happen directly between users. Transparent: All transactions are publicly recorded. 2. How Does Bitcoin Work? Bitcoin works on a blockchain . Every 10 minutes, new transactions are bundled into a block and added to the chain through a process called mining . Miners use computational power to solve complex puzzles, validating the transactions. 3. How to Get Bitcoin There are several ways to acquire Bitcoin: Buy from exchang...