What is Bitcoin

Bitcoin is like digital money! Think of it like money you carry in your pocket or wallet, except it’s all online. It’s like cash, but it’s not printed or held in your hand, it exists digitally. What makes it even cooler is that you don’t need a bank to use it – you can just send it to someone else and they can use it! To explain it in a simpler way, Bitcoin is like an online version of cash. You can use it to buy things online or you can send it to someone else. It is like when you give money to a friend, except it’s all done online. Here are some stats to help you understand Bitcoin better: – Bitcoin was created in 2009 – There are over 18 million Bitcoins in circulation – The value of one Bitcoin was roughly $9,000 in June 2020 – You can buy and sell Bitcoin on exchanges like Coinbase An analogy to help you understand Bitcoin is that it is like a virtual gold. Just like gold, Bitcoin is valuable and can be used as a form of payment. But unlike gold, it is digital and can be transferred easily over the internet. Fun Fact: Bitcoin is open source, which means anyone can look at the code and help make it better!