A cryptocurrency is a digital or virtual currency that uses cryptography to secure its transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control. Bitcoin, the first and most well-known cryptocurrency, was created in 2009.
Cryptocurrencies are often traded on decentralized exchanges and can also be used to purchase goods and services. Bitcoin, for example, can be used to purchase items on Overstock.com and Expedia. Cryptocurrencies can also be used to pay for goods and services on some darknet markets.
Cryptocurrencies are often volatile and can experience large price swings. Bitcoin, for example, has experienced a price swing of up to $1,000 in a single day.
What is Bitcoin?
Bitcoin is the first and most well-known cryptocurrency. Bitcoin was created in 2009 by Satoshi Nakamoto, an anonymous individual or group of individuals. Bitcoin is a decentralized currency, meaning it is not subject to government or financial institution control.
Bitcoin is often traded on decentralized exchanges and can also be used to purchase goods and services. Bitcoin can be used to purchase items on Overstock.com and Expedia. Bitcoin can also be used to pay for goods and services on some darknet markets.
Bitcoin is often volatile and can experience large price swings. For example, Bitcoin has experienced a price swing of up to $1,000 in a single day.
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