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What is Bitcoin?
Bitcoin is a peer to peer digital payment system that uses cryptography to ensure secure ownership of coins. Its uses a distributed ledger system known as a Blockchain. Bitcoin (aloso known as BTC, was created by Satoshi Nakamoto and released in 2009.
How are Bitcoins created?
Bitcoins are mined using a Proof Of work System called HashCash (created by Adam Back, in 1997) HashCash.org Bitcoins are currently mined with ASIC mining machines.
What do I need to start using Bitcoin?
All you need to start using Bitcoin, is a wallet. Wallets are used to store Bitcoins & consist of a Private Key and a Public Key. Keep the Private key to yourself (never show to anyone!) and share your Public Key to recieve Bitcoin from other people.
A few types of wallet are available such as :
Web Wallet / Paper Wallet / Hardware Wallet
Aren’t Bitcoins too expensive to Buy?
Well, Yes they are quire expensive, however Bitcoins can be divided up into small units known as Satoshis. This makes it more affordable since you can buy or trade very small amounts of a Bitcoin.