What is Bitcoin?

cryptocurrency

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what's in this lesson?

You can barely get through a convo these days without mentioning Bitcoin or cryptocurrency. Onomy is breaking down crypto starting with this first lesson in our cryptocurrency course. New videos on crypto uploaded every week!

Lessons in this course

What is Bitcoin?

cryptocurrency

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  • Overview
  • Transcript
  • Resources

What is Bitcoin?

cryptocurrency

You can barely get through a convo these days without mentioning Bitcoin or cryptocurrency. Onomy is breaking down crypto starting with this first lesson in our cryptocurrency course. New videos on crypto uploaded every week!

As if the stock market wasn’t confusing enough, the talk of Bitcoin and other cryptocurrencies has been overwhelming to say the least. What exactly is Bitcoin? How does it work? And why does it seem like everyone is hopping on the bitcoin bandwagon?

What is Bitcoin?

Bitcoin is a new form of money that’s completely digital. Bitcoin can be used by anyone, anywhere in the world. Instead of currencies issued by the government like dollars, euros, or yen – it’s a universal currency issued by a protocol.

How does Bitcoin work?

Bitcoin uses a technology called blockchain. Blockchain is designed to let you transfer digital property (like money) safely, without going through middlemen (like banks). Skipping middlemen makes transfers faster, cheaper and oftentimes more secure.

Lessons in this course

what's in this lesson?

You can barely get through a convo these days without mentioning Bitcoin or cryptocurrency. Onomy is breaking down crypto starting with this first lesson in our cryptocurrency course. New videos on crypto uploaded every week!

Lessons in this course

Transcript

As if the stock market wasn’t confusing enough, the talk of Bitcoin and other cryptocurrencies has been overwhelming to say the least. What exactly is Bitcoin? How does it work? And why does it seem like everyone is hopping on the bitcoin bandwagon?

What is Bitcoin?

Bitcoin is a new form of money that’s completely digital. Bitcoin can be used by anyone, anywhere in the world. Instead of currencies issued by the government like dollars, euros, or yen – it’s a universal currency issued by a protocol.

How does Bitcoin work?

Bitcoin uses a technology called blockchain. Blockchain is designed to let you transfer digital property (like money) safely, without going through middlemen (like banks). Skipping middlemen makes transfers faster, cheaper and oftentimes more secure.

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