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What is Bitcoin?

Learn about bitcoin as a digital currency, what makes it unique, and how it works.

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Written by ZBD
Updated over 6 months ago

Bitcoin is a decentralized, digital currency—which means it's not a physical coin or note you can hold in your hand. But here’s the coolest part: it’s decentralized so nobody controls or owns it. So you can directly send your friend Bitcoin anywhere in the world without a middle man, i.e., a traditional bank.

There are tons of ways you can use Bitcoin—you can shop (both online and off) wherever Bitcoin is accepted, easily convert Bitcoin into gift cards in the ZBD App, use Bitcoin to purchase some games and apps, send Bitcoin to your friends and family, and more. Plus, more businesses and services are beginning to accept Bitcoin—so the ways to use it are growing every day.

Sure, that all sounds awesome, but is it safe and secure to use Bitcoin? And the answer is: absolutely yes. Here’s why:

  1. Decentralized System: Unlike traditional, fiat currencies controlled by governments, Bitcoin operates on a decentralized network. This means it's not governed by a single entity, reducing the risk of manipulation or control.

  2. Blockchain Technology: Bitcoin transactions are recorded on a blockchain, which is a public ledger. Each transaction is verified by multiple participants in the network, making it extremely difficult to alter any information without being detected.

  3. Cryptography: Bitcoin uses cryptographic techniques to secure transactions. It's a super complex code that's tough to crack, ensuring the safety of your digital currency.

  4. Control Over Your Money: Bitcoin gives you full control over your funds with your private keys. It's like having a highly secure digital safe where only you have the access code.

However, it's important to remember that while the Bitcoin network itself is very secure, it's crucial to practice safe storage and be cautious with your private keys.

We believe Bitcoin is for everyone, so come join us in the ZBD App! 💰✨

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