What is Bitcoin?

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 and What They Mean

• Cryptocurrency: A digital or virtual form of currency that uses cryptography for security and operates independently of a central authority.
• Blockchain: A digital ledger in which transactions made in cryptocurrencies are recorded chronologically and publicly.
• Wallet: A digital tool that allows users to securely store, send, and receive cryptocurrencies.
• Miner: A participant in the network who validates transactions and adds them to the blockchain through a process called mining.
• Altcoin: Any cryptocurrency other than Bitcoin, such as Ethereum, Litecoin, or Ripple.
• Exchanges: Platforms where users can buy, sell, and trade cryptocurrencies.

Understanding these key crypto terms can help you navigate the world of digital currencies and make informed decisions when it comes to investing or using cryptocurrencies like Bitcoin.