Could you please explain to me in simple English how Bitcoin works?

[AnzarRS]

Could you please explain to me in simple English how Bitcoin works?

[1714935397]

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[1714935397]

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[Ingramtg]

bitcoin is the Centralization digital currency and mine by your computer's Computing power

it's very fast trade and lower fee(by the way , now is not fast and the fee is high).

[Wipangga]

for me bitcoin work is very easy to get a fairly simple result, if you want to invest on bitcoin, for me it is great to get a fairly simple result. I know that bitcoin prices next year will be even higher, so you will get pretty good results.

[spadormie]

Bitcoin works in many ways. It could act as a money but it only exists digitally. So it means it only exist with the use of internet. Like real money you can use fiat in order to buy bitcoins and it is somewhat an investment. With bitcoin it is easy to pay somebody online without breaking a sweat.

[AnzarRS]

Thank you so much to all who have responded to my questions it has been really helpful and comforting reading all your replies

[genology]

Look at Bitcoin as a simple currency like dollars or pesos but the only difference is that it is online. Now, this currency continues to grow so its conversion to other currencies like dollars or pesos is going larger. And this is the reason why people invest in it.

[yecats]

Bitcoin  is a type of digital currency or crypto currency that can transact or transfer bitcoin value without a middle man on it as long as you have your  bitcoin wallet.

[saifanik]

BTC is a crypto-currency and also a digital currency. It can transact or transfer BTC value.It works in many ways.BTC can be beneficial as a result of this investment.The number of coins is increasing day by day.People constantly know about BTC and are working like this.

[Queen12]

The entire account of bitcoin is kept by the world's miners, and your transfer needs to be confirmed by them.

[manoj kumar k]

the first thing of the bitcoin is the bitcoin is a blockchain technology where the investors for the bitcoin increases the price of the bitcoin will also get increased

[Kakmakr]

Someone created a digital payment network <software> that release a specific amount of tokens <bitcoins> that are mined by people with specialized hardware. These tokens are sold on a open market and used as a store of value or a currency. The value of this token is determined by supply & demand.

The distribution of these tokens are stored on a decentralized database, called the Blockchain. <This database keep track of the ownership of these tokens> You claim ownership with your Private key. ^smile^

[keesh]

Bitcoin is a digital currency. It is a kind of money just like euros, dollars, peso, etc., and you can pay using bitcoin, except, it is not printed and it is not generated by any bank.

[h0lybyte]

Bitcoin is a non-government digital currency that can be used used as like fiat but it doesn't work offline because it has no physical state like fiat.
You can shop for goods, services, pay bills using bitcoin, you can also trade it with alternate crypto currencies. Bitcoin is now almost  acceptable by all countries and a few goverments have legalized its use, you can buy and hold bitcoin to earn profits

[canadian1980]

Could you please explain to me in simple English how Bitcoin works?

Bitcoin is a digital currency. It can be used online. You can busy bitcoins and then sell it.

[redsuncrypto]

Could you please explain to me in simple English how Bitcoin works?

can't explain bitcoin just in a few word, if you want to know more about bitcoin and cryto world, you have to research more document in the internet bro