What is Bitcoin?

 

O que é Bitcoin? is the first digital currency to allow online transfers without a middleman such as a bank. It is decentralized, transparent and free from government manipulation, making it an exciting alternative to traditional currencies.

The creator of Bitcoin remains anonymous, but he or she created the currency to provide people with an alternative to trusting third parties like banks and financial institutions. Its emergence was perfectly timed during a global crisis that rattled confidence in banks and governments around the world. Bitcoin enables transactions using only digital identities, which gives users some degree of privacy. This feature has also made it popular in the shadowy world of illegal online commerce, such as ransomware attacks.

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Instead of relying on a central authority like a bank or payment processor, the Bitcoin network manages transaction records through a technology called blockchain. Mining is the process of verifying and updating these transaction records. Miners earn Bitcoins by dedicating specialized computers to solving complex mathematical problems. This consumes huge amounts of electricity – by some estimates, enough to power entire countries such as Argentina or Norway.

Bitcoin has a growing global footprint and is accepted by companies like Dell, Expedia and PayPal. Its value can be exchanged for other currencies, goods and services on online exchanges. It can be stored securely on your computer or mobile device (it’s more secure than cash) using something called a wallet, which requires a public and private key.

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