What is Bitcoin?. Bitcoin is a form of cryptocurrency… | by Web3 Wizard | The Capital | Feb, 2025
Bitcoin is a form of cryptocurrency, which means it is a digital asset that uses cryptography to secure transactions. It was created to be a decentralized currency, meaning no single entity, like a central bank or government, has control over it. Bitcoin transactions are recorded on a public ledger called the blockchain, which ensures transparency and security.
One of Bitcoin’s most important features is its limited supply. Unlike traditional money, which governments can print in unlimited amounts, there will only ever be 21 million Bitcoins. This scarcity gives Bitcoin value, much like gold. People can buy, sell, and store Bitcoin using digital wallets, and it can be used for online transactions, investments, and even as a store of value like gold.
Bitcoin is important because it provides financial freedom and security to people around the world. Here are a few key reasons why it matters:
- Decentralization — Unlike traditional currencies, Bitcoin is not controlled by a central authority. This means no government or bank can manipulate its value or freeze someone’s funds.
- Security and Transparency — Bitcoin transactions are recorded on a blockchain, making them secure and nearly impossible to alter or counterfeit.
- Limited Supply — Since only 21…
