What is bitcoin
Bitcoin, often described as a cryptocurrency, a virtual currency or a digital currency - is a type of money that is completely virtual. It's like an online version of cash. ... People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people. Is Bitcoin real money? Yes, Bitcoin is technically real money. It is totally online, so you can't get physical notes or coins. You can use it to buy things, but not many shops accept it just yet. Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. There are several ways to convert bitcoin to cash and ultimately move it to a bank account: Sell bitcoin on a cryptocurrency exchange, such as Coinbase or Kraken. This is the easiest method if you want to s...