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:

• Cryptocurrency: A digital or virtual form of currency that uses cryptography for security.
• Blockchain: A distributed ledger that records all transactions across a network of computers, ensuring transparency and security.
• Wallet: A digital wallet that stores private keys used to access and manage cryptocurrencies.
• Mining: The process of verifying transactions and adding them to the blockchain, typically done by specialized computers.
• Decentralized: Not controlled by a single entity, such as a government or financial institution.