Bitcoin - The World's First Decentralized Digital Currency
What is Bitcoin
Bitcoin (BTC) is the world's first decentralized digital currency, created in 2009 by an anonymous developer known as Satoshi Nakamoto. It enables direct peer-to-peer (P2P) transfers without central authorities like banks or governments.
Key Features of Bitcoin
Decentralization
The Bitcoin network is jointly operated by thousands of nodes (computers) worldwide. Since no single entity controls it, it's resistant to censorship.
Limited Supply
Bitcoin's total supply is capped at 21 million coins. This scarcity is one of the key factors supporting Bitcoin's value.
Transparency
All transaction records are permanently recorded on a public ledger called the blockchain. Anyone can verify transaction history.
How Does Bitcoin Work?
Bitcoin is based on blockchain technology. When a transaction occurs:
- Transaction information is broadcast to the network
- Miners verify the transaction
- Verified transactions are bundled into blocks and added to the chain
- Once confirmed, transactions are irreversible
Want to learn more about blockchain? See our article What is Blockchain?.
What to Know Before Investing in Bitcoin
- Volatility: Bitcoin prices can fluctuate several percent in a single day
- Security: Losing your Private Key means permanently losing your Bitcoin
- Regulation: Cryptocurrency regulations vary by country, so research is essential
Check Bitcoin Prices
On BitInsight, you can view real-time Bitcoin prices and price differences across major exchanges like Binance and Coinbase at a glance.