Getting deep into Bitcoin Blockchain as a beginner
What Is Bitcoin Used For?
Bitcoin is primarily used as a digital currency and store of value. It can be used to make purchases online or in person, just like traditional currencies. Anyone with an internet connection can send and receive it, and its digital presence means that it can be transferred globally.
Bitcoin is sometimes used for more private transactions. The transactions are public, and the addresses (public keys) are pseudonymous, though not completely anonymous. In other words, while the transactions are visible on the blockchain, the users behind them are not easily identifiable.
Some people also buy bitcoins as a long-term investment, expecting their value to increase over time. Like gold or other commodities, bitcoins' limited supply and decentralized nature have made it a viable option for investors looking to diversify their portfolios.
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Getting deep into Bitcoin Blockchain as a beginner
What Is Bitcoin Used For?
Bitcoin is primarily used as a digital currency and store of value. It can be used to make purchases online or in person, just like traditional currencies.
Anyone with an internet connection can send and receive it, and its digital presence means that it can be transferred globally.
Bitcoin is sometimes used for more private
transactions. The transactions are public, and the addresses (public keys) are pseudonymous, though not completely anonymous. In other
words, while the transactions are visible on the blockchain, the users behind them are not easily identifiable.
Some people also buy bitcoins as a long-term investment, expecting their value to increase over time. Like gold or other commodities, bitcoins' limited supply and decentralized nature have made it a viable option for investors looking to diversify their portfolios.
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