Beginners Guide

The Ultimate Guide To The King Crypto- Bitcoin

Written by: Qadir AK

Written by right arrow

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

  • author facebook
  • author twitter
  • linkedin

Mar 16, 2022

Bitcoin, the first kind of digital money has been one of the most discussed topics in the world of finance since its meteoric rise in 2017. It has become an entity that has delivered multi-bagger returns to its investors. It runs for the people and by the people.

What makes it so special is that it is run by a secure global network that grows by the day, and requires no intermediary to regulate transactions and payments- making it completely autonomous.

However, industry leaders often differ in their outlook towards it.

Some strongly believe and back the idea that Bitcoin and other cryptocurrencies are the future of freely moving economies. On the other hand, some people reject the idea, describing it as a digital entity of questionable, uncertain value.

All in all, Bitcoin is still an enigma to many.

Read on for a detailed guide as we "mine" our way into the world of Bitcoin to understand it better.

What is Bitcoin?

Bitcoin is a digital currency, which means it exists solely in electronic form. Although, unlike fiat currency, it isn't controlled by the state or government and doesn't have a central issuing authority or regulatory body. 

Okay, but how does that work, though? 

Bitcoin is peer-to-peer digital money that functions without a central authority. Instead, it's a computer code with a value encrypted with a solid crypto-algorithm to ensure its authenticity.

Bitcoin, like traditional currency, can be used to pay for goods ...

Back to top button