Bitcoin Explained for Beginners | How Bitcoin Works, legal Or not, How to Buy & Sell Bitcoin

Bitcoin & Cryptocurrency Explained for Beginners | How Bitcoin Works, legal Or not, How to Invest
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What is Bitcoin?
Bitcoin often described as a cryptocurrency, a virtual currency, or a digital currency - is a type of money that is completely virtual.
It's like an online version of cash. You can use it to buy products and services, but not many shops accept Bitcoin yet and some countries have banned it altogether.
The physical Bitcoins you see in photos are a novelty. They would be worthless without the private codes printed inside them.

How does Bitcoin work?
Each Bitcoin is basically a computer file that is stored in a 'digital wallet' app on a smartphone or computer.
People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people.
Every single transaction is recorded in a public list called the blockchain.
This makes it possible to trace the history of Bitcoins to stop people from spending coins they do not own, making copies, or undo-ing transactions.

Is Bitcoin a good investment?
When investing, it's wise to buy low and sell high – but Bitcoin is difficult to value. It's volatile and lacks the dividend payments of many stocks and bonds. Actually, supply and demand may be among the major factors in its valuation.
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