What is Bitcoin? In a word, it is a “virtual currency”.
First of all, as you can see from both “currency” and “coin”, Bitcoin is money.
It is still “money” like yen and dollar.
Since it is “money”, there are units of currency such as yen and dollar.
The unit of Bitcoin is written as BTC.
It can be counted as 1 BTC (1 bit coin), like 1 yen or 1 dollar.
However, as you can see from the “virtual”, unlike the yen and the dollar, there is no visible figure for the hand.
There is no coin with a big “B” written on it.
It is easy to imagine bitcoin as a virtual currency, when using the currency in the online game.
If you pay yen or dollars to get the currency used in the game, you can buy items at in-game stores where the currency used in the game is “usable”.
A virtual currency that can only be used in-game or online.
There are other cryptocurrencies that can only be used on certain websites.
There are websites that use the mechanism of purchasing 1,000 points for 10 dollars and purchasing paid services with those 1,000 points when registering for use.
A virtual currency whose points are valid only within “usable” websites.
Bitcoin is similar.
If you can get Bitcoin, you can buy goods and services where you can “use” Bitcoin.
Comment by Hans
April 24, 2024
as I am trading here various assets, for me it's the most important feature. i mean, flexibility in tradable markets. i alternate trading styles, meaning that sometimes I trad...