Bitcoin is a cryptocurrency, a virtual currency designed to act as money and a form of payment beyond the control of any person, group or organization, thus eliminating the need for third parties to participate in financial transactions. Blockchain miners are rewarded for the work done in verifying transactions and can be purchased on several exchanges.
Bitcoin was introduced to the public in 2009 by an anonymous developer or group of developers using the name Satoshi Nakamoto.
It has since become the most well-known cryptocurrency in the world. Its popularity has inspired the development of many other cryptocurrencies. These competitors either try to replace it as a payment system or are used as utility or security tokens in other blockchains and emerging financial technologies.
Learn more about the cryptocurrency that started it all – the history behind it, how it works, how it can be obtained and what it can be used for.
Launched in 2009, Bitcoin is the world’s largest cryptocurrency by market cap.
Unlike fiat currency, Bitcoin is created, distributed, traded and stored using a decentralized ledger system known as the blockchain.
Bitcoin’s history as a store of value has been turbulent; it went through several cycles of ups and downs during its relatively short life.
Bitcoin, the oldest virtual currency to meet widespread popularity and success, has subsequently inspired a number of other cryptocurrencies.