What is bitcoin and how does it work?

What is Bitcoin? Bitcoin is the first and most widely recognized cryptocurrency. It enables peer-to-peer exchange of value in the digital realm through the use of a decentralized protocol, cryptography, and a mechanism to achieve global consensus on the state of a periodically updated public transaction ledger called a 'blockchain.'

How to trade Bitcoin?

There are two main ways to trade Bitcoin. Crypto exchange – You can buy and sell the currency direct on cryptocurrency exchanges, of which there are many, with new ones emerging all the time. Broker – Alternatively, you can trade through a broker who provides cryptocurrencies among their tradable assets.

What is Bitcoin (BTC)?

Bitcoin can refer to the Bitcoin software protocol as well as to the monetary unit, which goes by the ticker symbol BTC. Launched anonymously in January 2009 to a niche group of technologists, Bitcoin is now a globally traded financial asset with daily settled volume measured in the tens of billions of dollars.

Is bitcoin a currency or a commodity?

Although its regulatory status varies by region and continues to evolve, Bitcoin is most commonly regulated as either a currency or a commodity, and is legal to use (with varying levels of restrictions) in all major economies. Bitcoin is based on the ideas laid out in a 2008 whitepaper titled Bitcoin: A Peer-to-Peer Electronic Cash System.