Cryptocurrency is a digital or virtual currency that uses cryptography for security and is decentralized, meaning it's not controlled by any government or financial institution. Transactions are recorded on a public ledger called a blockchain, which helps to ensure the integrity and security of the network.
Bitcoin is a decentralized digital currency that allows for peer-to-peer transactions without the need for a central authority or intermediary. It was created in 2009 by an individual or group using the pseudonym Satoshi Nakamoto.
1. Decentralized: Bitcoin operates on a decentralized network of computers, rather than a single central server.
2. Digital: Bitcoin is a digital currency, existing only in electronic form.
3. Limited supply: The total supply of bitcoin is capped at 21 million.
4. Fast and global: Bitcoin transactions are processed and settled in real-time, regardless of the sender's and recipient's locations.
5. Secure: Bitcoin transactions are secured through advanced cryptography and a public ledger called the blockchain./p>
6. Open-source: Bitcoin's underlying code is open-source, allowing developers to review and contribute to the protocol./p>
7. No central control: There is no central authority controlling bitcoin, making it resistant to censorship and manipulation./p>
1. Payments: Bitcoin can be used to purchase goods and services from merchants who accept it./p>
2. Investment: Bitcoin can be bought and held as an investment, similar to stocks or commodities./p>
3. Remittances: Bitcoin can be used to send money across borders, often with lower fees and faster processing times than traditional methods./p>