Bitcoin Explained: How It Works & Why It Matters

Bitcoin is a revolutionary form of digital money that operates without banks or governments. It records transactions using blockchain technology, a transparent and secure ledger.

Users store Bitcoin in wallets and can send or receive money quickly and affordably, even across borders. New bitcoins are created by mining, a process that verifies transactions but is criticized for environmental impact.

Bitcoin provides economic independence, investment prospects, and versatility for the global economy, but it also comes with concerns such as significant volatility and susceptibility to fraud.

Bitcoin’s fixed supply and network effects could change the world.

Despite its challenges, Bitcoin remains a game-changing innovation worth knowing about.