Start with Bitcoin

What is Bitcoin?

Bitcoin is the internet’s native form of money.

You’re familiar with using PayPal or your online bank to send, receive and manage your “money” on the internet. Although convenient, there’s some problems:

  • You need permission to have an account with PayPal or a bank. They have the power to close your account, block your transfers, and ask questions about your transactions. In short, they stand between you and the free use of your money.
  • If you want to send money to a friend in Canada or France, a conversion has to happen between your form of money, the US Dollar, and theirs. PayPal and banks charge a fee for this conversion.
  • Your money loses value over time, as the government continually enlarges the money supply through inflation. A dollar today is worth 90% less than one in 1920.

Bitcoin is the internet's native form of money, and solves these problems.

  • It's permissionless. Just like email, anyone can access and use it, but nobody owns or controls it. Nobody can stop you from owning and using bitcoin.
  • It's global. Bitcoin is a worldwide currency. Just like email, you can send bitcoin as fast and freely to someone in Japan, as to your neighbor next door.
  • It has a limited supply. By design, there will never be more than 21 million bitcoins.

Let's now explore how Bitcoin works. →