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Bitcoin

/ˈbɪtˌkɔɪn/
IPA guide

Other forms: Bitcoins

Bitcoin is a kind of digital payment, or cryptocurrency. Unlike traditional money, bitcoin doesn't have a physical form, but only exists online.

Bitcoin was the very first cryptocurrency, created in 2009. It's mainly used by investors — and like stocks, its value isn't fixed, but changes based on how much people are willing to pay for it. If you did use Bitcoin to buy something, the whole transaction would happen between your computer and the seller's. Bitcoin is named for the bit, the smallest unit of data a computer can store.

Definitions of Bitcoin
  1. noun
    (™) a proprietary name for a type of digital currency exchanged online and operating independently of a centralized bank
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