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What is Bitcoin?

Last Updated: Feb 15, 2018 04:21PM UTC

Bitcoin is a type of digital currency based on cryptographic protocol that has gained widespread recognition and adoption, and is currently the largest digital currency as of 2018.

The idea of digital monetary systems dates back to the early 1990s when several companies and programmers tried their hand at creating money meant to be exchanged virtually. Many of these early currencies struggled to find their footing due to insufficient technology, poor security features, lack of adoption and a slew of other issues. The cryptocurrency segment of the digital currency universe was created in 2009 with the invention of bitcoin by founder Satoshi Nakamoto.

We encourage you to download our Bitcoin Basics Guide for a deeper exploration of Bitcoin, the rapidly growing cryptocurrency industry, and blockchain technology.

Additional Information
If you would like to get more information on bitcoin, you can read the original paper that summarizes the system’s design and inspiration. As always, make sure to visit our blog to stay up to date on all things bitcoin.

 

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