What is Bitcoin? Key crypto terms and what they mean

Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.

Key Crypto Terms:

• Cryptocurrency: A digital or virtual currency that uses cryptography for security.
• Blockchain: A distributed ledger that records all transactions across a network of computers.
• Wallet: A digital tool used to store, send, and receive cryptocurrencies.
• Mining: The process of validating transactions and adding them to the blockchain through complex mathematical calculations.
• Decentralized: A system or network that operates without a central authority or single point of control.
• Peer-to-peer: A decentralized network where participants interact directly with each other without the need for intermediaries.