Cryptocurrency: What’s this “magic internet money” all about?

So, you heard about Bitcoin and that it has made some people rich. And now, you want in on the action!. If you don’t already know the Bitcoin story, it started with an anonymous cryptographer over ten years ago and continues today with a growing community of users.

What is Bitcoin?

Bitcoin is a currency like the dollar, euro or the pound. However, bitcoin only “lives” on the internet because it is a digital currency.

Bitcoin is a protocol that enables anyone in the world with an internet connection to store, send, and receive money without the need for an intermediary.

Bitcoin is a decentralised, global, peer-to-peer payment network that leverages complex cryptography and economic incentives to facilitate financial transactions without the need for a bank.

It was created by an anonymous developer (or group of developers) in 2008. The first bitcoin transaction took place in January 2009.

Since then, bitcoin has become a global phenomenon that has revolutionized the way people can transfer value over the Internet.

To be continued…

#Crypto