Bitcoin (BTC):

What It Is & Information

Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.

 

It’s the first example of a growing category of money known as cryptocurrency.

 

What makes it different from normal currencies?

 

Bitcoin can be used to buy things electronically. In that sense, it’s like conventional dollars, euros, or yen, which are also traded digitally.

 

However, bitcoin’s most important characteristic, and the thing that makes it different to conventional money, is that it is decentralized. No single institution controls the bitcoin network. This puts some people at ease, because it means that a large bank can’t control their money.

Bitcoin Technical Information:

Coin limit

21 Million

Algorithm

SHA-256

Mean block time

10 minutes

Difficulty retarget

2016 block

Block reward details

Halved every 210,000 blocks.

Initial reward

50 BTC

Current block reward

12,50 BTC

Block explorer

blockchain.info

Created by

Satoshi Nakamoto

Creation date

January 3rd, 2009

You can make yourself an Online Wallet for Free to get an Unique Bitcoin Address where you will receive Payments. Desktop Wallets and Hardware Wallets are only for Advanced Users. On Blockchain.info you can Sign up for Free and your their Wallet which are one of the safest Online Wallets out there.

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