What is bitcoin?


Bitcoin is an experimental, decentralized digital currency that enables instant payments to anyone, anywhere in the world with a minimum fee. Bitcoin is the first one among hundreds of cryptocurrencies, that are frequently called altcoins, because they are bitcoin alternatives.

Bitcoin was introduced as open source software in 2009 by pseudonymous developer or a group of developers of the name Satoshi Nakamoto. It is a cryptocurrency, so-called because it uses cryptography to control the creation and transfer of money.

Each bitcoin is divisible to eight decimal places:

BTC 1 Bitcoin = 1 Bitcoin
mBTC 1 MiliBit = 0.001 Bitcoin
µBTC 1 MicroBit = 0.000001 Bitcoin
1 Satoshi = 0.00000001 Bitcoin