What is bitcoin in simple terms

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An alternative to fiat currency.

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What is Bitcoin for dummies - A simple explanation for beginners
Bitcoin is a decentralized digital currency that you can buy, sell and exchange directly, without an intermediary like a bank. Bitcoin's creator. Bitcoin (BTC) is a form of digital money. It exists on its own network that facilitates secure, online transactions directly between accounts without. Bitcoin is a digital currency -- also called cryptocurrency -- that can be traded for goods or services with vendors that accept Bitcoin as payment.

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Related Articles. This is very risky and should only be done after talking to a professional financial advisor about your financial circumstances. It set out the theory and design of a system for a digital currency free of control from any organisation or government. Here are some other options for buying and selling Bitcoin: Peer-to-peer transactions: Someone might pay you in Bitcoin for a product or service, or accept Bitcoin as payment instead of cash.