1) What is Bitcoin?2) What do you mean by Bitcoin Mining?3) Who developed Bitcoin?4) Who governs Bitcoin?5) What is a Bitcoin wallet?6) How can you choose a Bitcoin wallet?7) What is a Bitcoin address?8) Is Bitcoin Anonymous?9) Who sets the Bitcoin price? 10)Why are Bitcoin prices fluctuating?11) How is Bitcoin purchased?12) How can you sell Bitcoins?13) Can stores accept Bitcoins?14) How can you convert Bitcoin into Fiat currencies?15) Can I mine Bitcoins?16) Can I trade bitcoin without selling at an exchange?17) What can I buy with Bitcoins?18) Is Bitcoin legal?19) How does Bitcoin work?20) What are the advantages of bitcoin?21) What are the disadvantages of Bitcoin?22) What is meant by an Unconfirmed Transaction?23) Who controls the Bitcoin network?24) What is the price of one Bitcoin? Can I buy a part of one Bitcoin?25) Is it legal to buy and sell Bitcoin from India?26) How do bitcoin transactions work?27) What steps should you take to safeguard yourself from Bitcoin fraud?28) What is the difference between Bitcoin and Blockchain?
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KEY TAKEAWAYS
Launched in 2009, Bitcoin is the world's largest cryptocurrency by market capitalization.
Unlike fiat currency, Bitcoin is created, distributed, traded, and stored with the use of a decentralized ledger system, known as a blockchain.
Bitcoin's history as a store of value has been turbulent; it has gone through several cycles of boom and bust over its relatively short lifespan.
As the earliest virtual currency to meet widespread popularity and success, Bitcoin has inspired a host of other cryptocurrencies in its wake.
Bitcoin is known as a type of cryptocurrency because it uses cryptography to keep it secure. There are no physical bitcoins, only balances kept on a public ledger that everyone has transparent access to (although each record is encrypted). All Bitcoin transactions are verified by a massive amount of computing power via a process known as "mining." Bitcoin is not issued or backed by any banks or governments, nor is an individual bitcoin valuable as a commodity. Despite it not being legal tender in most parts of the world, Bitcoin is very popular and has triggered the launch of hundreds of other cryptocurrencies, collectively referred to as altcoins. Bitcoin is commonly abbreviated as BTC when traded.
Bitcoin is a decentralized digital currency created in January 2009. It follows the ideas set out in a white paper by the mysterious and pseudonymous Satoshi Nakamoto.12 The identity of the person or persons who created the technology is still a mystery. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms do, and unlike government-issued currencies, it is operated by a decentralized authority.
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Bitcoin is a digital currency.