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  2. Here are some key points to understand Bitcoin1234:
    • Bitcoin is a type of cryptocurrency.
    • There is no physical bitcoin, only balances kept on a public ledger that everyone has transparent access to.
    • All bitcoin transactions are verified by a massive amount of computing power.
    • Bitcoin is not issued or backed by any banks or governments, nor is an individual bitcoin valuable as a commodity.
    • Bitcoin is a form of digital money that exists independently of any government, state, or financial institution.
    • Bitcoin can be transferred globally without the need for a centralized intermediary.
    • Bitcoin has a known monetary policy that arguably cannot be altered.
    • Bitcoin price is determined by supply and demand.
    • To use bitcoins, you need to have a Bitcoin wallet.
    • Each Bitcoin is a digital asset that can be stored at a cryptocurrency exchange or in a digital wallet.
    • Each individual coin represents the value of Bitcoin’s current price, but you can also own partial shares of each coin.
    • The smallest denomination of each Bitcoin is called a Satoshi, sharing its name with Bitcoin’s creator.
    Learn more:

    Bitcoin is a type of cryptocurrency. There is no physical bitcoin, only balances kept on a public ledger that everyone has transparent access to. All bitcoin transactions are verified by a massive amount of computing power. Bitcoin is not issued or backed by any banks or governments, nor is an individual bitcoin valuable as a commodity.

    www.investopedia.com/terms/b/bitcoin.asp
    Practically speaking, Bitcoin is a form of digital money that (1) exists independently of any government, state, or financial institution, (2) can be transferred globally without the need for a centralized intermediary, and (3) has a known monetary policy that arguably cannot be altered.
    www.bitcoin.com/get-started/what-is-bitcoin/

    Here’s an attempt to explain Bitcoin in the simplest of terms through bullet points:

    • Bitcoin is a digital currency. It does not have a physical presence.
    www.daytranslations.com/blog/how-to-understand-…
    Each Bitcoin is a digital asset that can be stored at a cryptocurrency exchange or in a digital wallet. Each individual coin represents the value of Bitcoin’s current price, but you can also own partial shares of each coin. The smallest denomination of each Bitcoin is called a Satoshi, sharing its name with Bitcoin’s creator.
    www.nerdwallet.com/article/investing/what-is-bitcoin
     
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