Bitcoin (BTC): what you need to knowBitcoin (BTC): what you need to know

What is Bitcoin?

Bitcoin (BTC) is a decentralized digital currency that was introduced in 2009. It allows users to transfer value directly to each other without the intervention of financial institutions. This is made possible by a blockchain, a public and immutable ledger in which all transactions are recorded. Bitcoin has a maximum supply of 21 million coins, making it seen as a scarce digital asset. The network is secured by miners, who verify transactions through a process known as Proof-of-Work (PoW).

Whitepaper: Bitcoin Whitepaper

How does Bitcoin work?

Bitcoin works based on a blockchain, a series of blocks with transactions that are validated by miners. Miners solve cryptographic puzzles to verify transactions and release new bitcoins. This mechanism, Proof-of-Work, ensures the security and decentralization of the network. Once a transaction is approved, it is permanently recorded on the blockchain and can no longer be changed.

• Ticker: BTC

• Category: Digital currency / Store of Value

• Blockchain: Bitcoin Blockchain

• Protocol: Proof-of-Work (PoW)

• Year of launch: 2009

The technology behind Bitcoin

Bitcoin uses blockchain technology to record transactions transparently and securely. Every 10 minutes, a new block is added to the chain, in which transactions are bundled and validated by miners. Thanks to the decentralized nature of Bitcoin, transactions can take place without a central authority, while cryptography and consensus mechanisms ensure the integrity of the network.

The Bitcoin ecosystem

The ecosystem around Bitcoin consists of miners, developers, users, and companies that use BTC as a means of payment or investment. In addition to exchanges and wallets, more and more platforms and companies are integrating Bitcoin into their financial services. Bitcoin is increasingly used as a store of value, similar to gold, but also as a means of payment at companies that accept crypto.

Who is the founder of Bitcoin?

Bitcoin was introduced in 2008 by an anonymous person or group under the pseudonym Satoshi Nakamoto. The Bitcoin whitepaper described a decentralized financial system that functions without the intervention of banks. In 2010, Nakamoto disappeared from public view, and to this day, the identity of the founder is unknown.

BTC Direct has been the European entry point to crypto since 2013. We make buying Bitcoin straightforward, even if it is your first time:

• Trusted in Europe. BTC Direct is registered with the Dutch Central Bank (DNB) and operates under MiCA, the EU regulation for crypto.

• Familiar payment methods. Pay with iDEAL, Bancontact, SEPA bank transfer, credit card, PayPal or Apple Pay. Your BTC is on its way within minutes.

• Your coins, your control. We do not store your BTC. After your purchase, your coins are sent straight to your own wallet address.

• Based in the Netherlands, serving all of Europe. Our experts are based in the Netherlands and answer in your language across the SEPA zone. Need help? We are here.

• Start with a small amount. From just €30. The minimum depends on the coin.

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Click here to read more information about the impact of this coin on the environment.

More questions about Bitcoin or BTC Direct? Visit our help center for more answers.

Cryptocurrencies, including Bitcoin (BTC), are volatile and carry risks. The value of BTC can fluctuate greatly and investments can lead to financial losses. Always do your own research and only invest money that you are willing to lose.

For more information, consult the crypto asset whitepaper which includes information about the provider, information about the crypto asset, information about the risks and information about the impact of the asset on the climate: Bitcoin (BTC) MiCA White Paper

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