What is Bitcoin?

Imagine if money existed completely online, without the need for banks or governments. That’s Bitcoin! It’s a digital currency, created in 2009 by an anonymous person or group of people using the name Satoshi Nakamoto. Unlike regular money (like dollars or euros), Bitcoin is decentralized, meaning it isn’t controlled by any single entity. Instead, it operates on a technology called blockchain, which is like a digital ledger that records all Bitcoin transactions safely and securely.

How Does It Work?

When you send or receive Bitcoin, your transaction gets added to a global network of computers (known as nodes) that verify and record it. This process is vital because it ensures that everyone agrees on how many Bitcoins exist and prevents someone from spending the same Bitcoin more than once. Transactions are pseudonymous, so while your wallet address is visible, personal identities remain private. 

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