• What is bitcoin?

    Bitcoin is the first cryptocurrency that can be transferred peer-to-peer using blockchain technology, without using a third party, such as a bank.

  • Who created Bitcoin?

    An unknown person or group of people using the pseudonym Satoshi Nakamoto created Bitcoin.

  • How does the Bitcoin network work?

    The Bitcoin network allows for the peer-to-peer transfer of bitcoin the cryptocurrency. To do this, a decentralized network of computers verifies and records every transaction to a ledger known as the blockchain.

  • What's the difference between the Bitcoin network and the bitcoin cryptocurrency?

    The Bitcoin network (with an uppercase "B") is a decentralized system of computers distributed across the world. Its native currency, bitcoin, is the reward given to miners for keeping this network secure. This cryptocurrency can be used for peer-to-peer exchange of value.

  • When was Bitcoin created?

    Bitcoin launched in 2009 and is currently the largest and most well-known cryptocurrency around the world.

  • Can the total supply of 21 million bitcoin be changed?

    A maximum of 21 million bitcoins will be created. Bitcoin's fixed supply is part of the bitcoin source code, which can be viewed by anyone – and the amount is highly unlikely to change without the majority of participants supporting a proposal to do so.

  • Is Bitcoin anonymous?

    The Bitcoin network records all bitcoin transactions. These transactions are public and connected to wallet addresses, not a person's name. If you know a person's wallet address, their transactions won't be anonymous.

  • How are new bitcoins created?

    Bitcoin is created through a process called mining. Approximately every 10 minutes, 6.25 new bitcoins are created.

  • Is the Bitcoin network secure?

    The Bitcoin network has never been hacked. A robust, decentralized network verifies and records every transaction, so this is unlikely to happen.

  • How is the price of bitcoin determined?

    The price of bitcoin depends on how much investors are willing to pay for it. Things like the stock market, inflation, conversion rates, and larger economic moves can also influence the price of bitcoin.

  • Can a majority of bitcoin holders control the network?

    A majority owner of bitcoin has no more control over the network and rules than someone who owns a fraction of a bitcoin.

  • What is a satoshi?

    A satoshi is the smallest amount a bitcoin can be divided into. Unlike the dollar, which can only be divided into a single cent, a bitcoin can be reduced into 8 decimal places. This means a satoshi is equal to 100 millionth of a bitcoin.

  • Is bitcoin backed by anything?

    Bitcoin isn't backed by a central authority such as a bank or financial institution. Bitcoin is backed by each user that supports the Bitcoin network

  • What is a halving event?

    A halving occurs nearly every 4 years, and this is when the amount of bitcoin a miner can earn per block is cut in half.

  • What is bitcoin used for?

    You can use bitcoin to buy or sell things like you can with actual currencies. Bitcoin is also used in investments, financial products, digital subscriptions, art, and gaming.