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What is Bitcoin in simple words

Interest in cryptovalues in the modern world is growing with geometric progression, and now it is difficult to find someone who has not heard about the Bitcoins. However, not everyone fully understands the purpose and benefits of cryptopayments, as well as the prospects for digital money. Within the framework of this article, we will talk in simple words about what the leader of the cryptovoltaic market - bitcoin - is, how the cryptosystem mechanism functions, and what are the predictions of the future fate of "digital gold".

What is bitcoin in simple words?

To buy Bitcoin we advise you to pay attention to the Matby service, which is a kind of flagship among a large number of online exchangers.

Matby service

Thanks to this exchanger, the user will learn how to buy, sell, exchange, send and receive cryptographic currency. Also Matby can be used as a multicurrency online wallet, which supports Bitcoin, Litecoin, Dash and Zcash. In order to protect users' funds, all cryptovalut is stored on "cold" wallets. Matby has been on the market for over 5 years and has proven itself as a reliable and secure service. The user's personal cabinet has several levels of protection, including two-factor authentication. For new users, the Matby team has prepared a video instruction (Youtube link to the word), which describes in detail all the necessary steps for registration, as well as the process of buying and selling cryptographic currency.

What is bitcoin. What is the point?

Money is the equivalent of the cost of goods and services, as well as a means of exchange and savings. Traditional currencies such as dollars, euros, rubles, and so on are called fiat money and are issued by central banks of the states.


We are used to electronic payment systems such as YandexMoney, WebMoney, PayPal operate with fiat money, being in fact an intermediary between banks and users.


Bitcoin is a payment system

Bitcoin is also a payment system, but it uses its own currency for settlements.



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In translation from English bitcoin means "minimum coin", the name is derived from the words "coin" (coin) and bit (unit of information).

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