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Bitcoin

Bitcoin (BTC)

layer-1

Bitcoin is the first and most well-known cryptocurrency, created in 2009 by the pseudonymous Satoshi Nakamoto. It introduced the concept of decentralized digital money secured by proof-of-work consensus.

Consensus: Proof of Work (SHA-256)Launched: 2009Official Website

About Bitcoin

Bitcoin (BTC) is a decentralized peer-to-peer electronic cash system that operates without a central authority or intermediary. Launched in January 2009, it was the first successful implementation of blockchain technology and remains the largest cryptocurrency by market capitalization. Bitcoin uses a proof-of-work consensus mechanism where miners compete to validate transactions and add new blocks to the chain. Its fixed supply of 21 million coins makes it deflationary by design, earning it the nickname 'digital gold.' The Bitcoin network has undergone several upgrades, including SegWit and Taproot, improving transaction efficiency and enabling more complex smart contract functionality. The Lightning Network serves as a Layer 2 scaling solution, enabling near-instant, low-cost payments.

Technical Specifications

7

TPS

~10 minutes

Block Time

$0.50–$30+

Gas Fees

Proof of Work (SHA-256)

Consensus

Use Cases

Store of value and long-term inflation hedge ('digital gold')
Cross-border payments and remittances via Lightning Network
Portfolio diversification as an uncorrelated asset class
Censorship-resistant savings in countries with unstable currencies

Pros

  • Most decentralized and secure cryptocurrency network with the longest track record
  • Fixed supply of 21 million coins provides scarcity and inflation resistance
  • Widely accepted by institutions, payment processors, and governments
  • Deepest liquidity and largest market capitalization of any digital asset
  • Strong network effect with the most miners, nodes, and developers

Cons

  • Low base-layer throughput of ~7 transactions per second
  • High energy consumption due to proof-of-work mining
  • No native smart contract support on the base layer
  • Transaction fees can spike significantly during periods of high demand

Where to Buy

BinanceCoinbaseKrakenBybitOKXGeminiKuCoinCrypto.comBitfinexGate.io

Frequently Asked Questions

This content is for informational purposes only and should not be considered financial advice. Cryptocurrency investments carry significant risk.

Quick Info

Symbol
BTC
Category
layer-1
Launched
2009
Smart Contracts
No
EVM Compatible
No

Last updated: 2026-04-01