Bitcoin (ticker BTC) is the first decentralized digital currency, the concept of which was set out in a document under the pseudonym Satoshi Nakamoto, with the network launched into operation in early 2009. Bitcoin became the first system to allow value to be transferred directly between participants without the involvement of banks or other intermediaries, relying on cryptography and a distributed ledger — the blockchain.
Transactions on the network are recorded in blocks that are linked together and confirmed by participants using the Proof of Work mechanism. Miners are responsible for confirming blocks and receive a reward for doing so. Bitcoin's issuance is limited by a cap built into the protocol, and the coin itself is divisible into small parts, the smallest of which is called a satoshi.
Thanks to its decentralization, transparency, and security, Bitcoin is often called "digital gold" and is used as a means of payment, value transfer, and capital preservation. At the same time, its price is highly volatile, so working with this asset requires an understanding of the technology and a conscious attitude toward market risks.
