[ˈbɪtkɔɪn]
Bitcoin is the most popular cryptocurrency. It is designed to be a global decentralised currency that is hard to manipulate by any one party.
Bitcoin is a decentralised digital currency (also known as a Cryptocurrency) that was created in 2009 by an anonymous individual or group of individuals using the pseudonym Satoshi Nakamoto.
Bitcoin transactions are recorded on the blockchain, a decentralised network that is maintained by a network of computers around the world. This makes Bitcoin transactions secure, transparent, and difficult to hack. Bitcoin can be bought and sold on a variety of online exchanges, and can also be used to purchase goods and services from merchants who accept it as payment.
New Bitcoins enter circulation through the process of "Mining"
Bitcoin has a limited supply of 21 million bitcoins, which means that as demand for Bitcoin increases, its value may also increase. However, Bitcoin is a highly volatile asset, and its value can change rapidly based on market conditions.
It is likely that the use and adoption of Bitcoin will continue to grow in the coming years as it becomes more accessible and more use-cases are found.
Mining Bitcoin is considered Income and is subject to Income Tax. You may be liable to Capital Gains Tax if you sell you Bitcoin for a Profit.
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