November 18

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5 Tips a Beginner should know about bitcoin

By Taiwo Lawal

November 18, 2021

Bitcoin

First, what is Bitcoin?

Bitcoin is a digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.

It may interest you to know that there are only 21 million bitcoins that can be mined in total. bitcoin will never pass that limit due to operation in its codebase, it is programmed.

Some of the tips you should know about Bitcoin

  • Bitcoin is not real money you can hold in your hand
  • Bitcoin was created in Japan by a Japanese named Satoshi Nakamoto who implemented the first blockchain
  • You might be doubting what blockchain is all about. Blockchain is a service that allows digital information to be recorded and distributed, but not edited. Blockchain is a public ledger used to record transactions that cannot be deleted, destroyed, or change.
  • Bitcoin is product which you can trade, buy or sell.

Thank you for reading this article if you have any comment kindly put it down in the comment section below.

Taiwo Lawal

About the author

I am a young Nigerian that likes graphics, coding, and computer.

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