A Simple Guide For Bitcoin And Its Place In The World Of Crypto

For anyone unfamiliar with Bitcoin, it is a digital or virtual currency created in 2009 that uses peer-to-peer technology to facilitate instant payments. During this process, transactions are initiated using an encrypted 16-character address. It is similar to your social security number.

To protect the funds, only you have access to the address, which involves two-factor authentication. The Bitcoin network is composed of independent computer systems that are responsible for generating, propagating, and verifying monetary…