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What is Bitcoin? | Coinbase

coinbase.com · 2,679 words · saved by 1 readers

The world’s first widely-adopted cryptocurrency. With Bitcoin, people can securely and directly send each other digital money on the internet. Bitcoin was created by Satoshi Nakamoto, a pseudonymous person or team who outlined the technology in a 2008 white paper. It’s an appealingly simple concept: bitcoin is digital money that allows for secure peer-to-peer transactions on the internet. Unlike services like Venmo and PayPal, which rely on the traditional financial system for permission to transfer money and on existing debit/credit accounts, bitcoin is decentralized: any two people, anywhere in the world, can send bitcoin to each other without the involvement of a bank, government, or other institution. Every transaction involving Bitcoin is tracked on the blockchain, which is similar to a bank’s ledger, or log of customers’ funds going in and out of the bank. In simple terms, it’s a record of every transaction ever made using bitcoin. Unlike a bank’s ledger, the Bitcoin blockchain i

What is Bitcoin? The world’s first widely-adopted cryptocurrency. With Bitcoin, people can securely and directly send each other digital money on the internet. Bitcoin was created by Satoshi Nakamoto, a pseudonymous person or team who outlined the technology in a 2008 white paper . It’s an appealingly simple concept: bitcoin is digital money that allows for secure peer-to-peer transactions on the internet. Unlike services like Venmo and PayPal, which rely on the traditional financial system for permission to transfer money and on existing debit/credit accounts, bitcoin is decentralized: any tw

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