how to explain bitcoin to someone

Last Updated on October 20, 2023 by Paganoto

Guide: What is Bitcoin and how does it work? – BBC

Guide: What is Bitcoin and how does it work? – BBC

Bitcoin, often described as a cryptocurrency, a virtual currency or a digital currency – is a type of money that is completely virtual. It's like an online version of cash. You can use it to buy products and services, but not many shops accept Bitcoin yet and some countries have banned it altogether.

How to Explain Bitcoin to your Parents | by Michelle – Medium

How to Explain Bitcoin to your Parents | by Michelle – Medium

A: Bitcoin is a type of cryptocurrency, a digital currency powered by the combination of various technologies such as cryptography, hashing, and …

What Is Bitcoin? How Does It Work? – Forbes Advisor

What Is Bitcoin? How Does It Work? – Forbes Advisor

Bitcoin is a decentralized digital currency that you can buy, sell and exchange directly, without an intermediary like a bank.

How to Explain Bitcoin to Your Grandparents – The Motley Fool

How to Explain Bitcoin to Your Grandparents – The Motley Fool

Bitcoin is basically a type of digital currency. It uses something called blockchain technology to keep track of people’s transactions. The idea …

Bitcoin Explained Simply | Everything You Need To Know

Bitcoin Explained Simply | Everything You Need To Know

What is bitcoin in simple terms? Basically, bitcoin is a digital currency that has been created without the intervention of a central bank. While the Federal …

How to Explain Bitcoin to Your Parents – Cointelegraph

How to Explain Bitcoin to Your Parents – Cointelegraph

You can relate it to a regular money or stocks. Explain that Bitcoin is regular money that has value and can be used to buy goods and services.

Bitcoin (BTC) Definition – Investopedia

Bitcoin (BTC) Definition – Investopedia

Bitcoin is a cryptocurrency, a virtual currency designed to act as money and a form of payment outside the control of any one person, group, or entity, …

What is bitcoin and how does it work? – New Scientist

What is bitcoin and how does it work? – New Scientist

A public ledger records all bitcoin transactions and copies are held on servers around the world. Anyone with a spare computer can set up one of these …

Bitcoin explained: Here's everything you need to know – CNET

Bitcoin explained: Here's everything you need to know – CNET

Simply put, bitcoin is a digital currency. No bills to print or coins to mint. It’s decentralized — there’s no government, institution (like a …