Bitcoin 101

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Bitcoin Logo
Bitcoin Logo

Bitcoin Logo

Who was Bitcoin made by?

Bitcoin was created in 2009 by ‘Satoshi Nakamoto’, though it can be assumed after much investigating, Satoshi Nakamoto is likely just a moniker for the person(s) behind Bitcoin.

 

What is Bitcoin?

Bitcoin is a peer to peer based currency, a user to user connected network, without any central server for data. It allows for the sending of money digitally, without the need of a centralized financial institution, like a bank. Bitcoin can be bought in fractions, making the technology and currency available for everyone.

 

How does Bitcoin work?

Bitcoin is a blockchain based network, as much as it’s a currency or store of value. In order to power the blockchain, and confirm blocks that have transaction data, Bitcoin utilizes a process called Proof of Work mining. Proof of Work as stated helps confirm and process blocks, and in turn helps process the transactions, as well generates blocks generates new blocks. The network uses the blocks created by the mining process, to organize transactions.

 

How do you store, send, and receive Bitcoin?

In order to store, send or receive Bitcoin; you will need a wallet to generate an address to use. Check out Bitcoin Wallets for wallets that we like using!

 

How you buy Bitcoin?

To purchase Bitcoin using fiat based currencies, like USD or EUR, you will need to purchase off a cryptocurrency exchange. Check out Exchanges for platforms that we enjoy!

 

Symbol/Ticker: BTC

Hashing Algorithm: SHA-256

Max Total Supply: 21 Million

Whitepaperhttps://bitcoin.org/bitcoin.pdf