What is Bitcoin? – Blockchain Made Simple

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What is Bitcoin?

Everyone’s heard of it but what is Bitcoin, and is it legal? Bitcoin is the first widely adopted use of blockchain technology. Bitcoin is a type of digital money or cryptocurrency and yes it’s perfectly legal. Bitcoin first appeared in 2009, created by a developer named Satoshi Nakamoto. Like any type of currency system, Bitcoin’s value is based on what others are willing to pay for it, and there are several market exchanges where Bitcoin is traded. One of the advantages of Bitcoin is that no one group ‘owns’ or controls Bitcoin, and therefore there is no need for central banks to move or store it– so there are no traditional bank fees involved in using or sending Bitcoin.

Blockchain Made Simple:

Blockchain is one of the hottest sectors in the market, yet few investors really understand what the blockchain is, and how it works. This is why DMG Blockchain Solutions is presenting Blockchain Made Simple. Hosted by Dan Reitzik, Blockchain expert and CEO of DMG Blockchain Solutions; Blockchain made Simple is a series of fun, easy to digest explainer videos, answering questions like What is Cryptomining? What is Blockchain used for? and How do I buy Bitcoin? For more information on DMG Blockchain Solutions (DMGI.V) please fill out the form below.