What Is Bitcoin? A Simple Guide for Beginners

6 min read · Updated Nov 11, 2026

Bitcoin is a digital currency that lets people send value to each other over the internet without a bank in the middle. It launched in 2009, created by an anonymous person or group called Satoshi Nakamoto, and is the first and largest cryptocurrency by market cap.

How Bitcoin works

Every Bitcoin transaction is recorded on a public ledger called a blockchain. Thousands of computers around the world (nodes) keep copies of it and check every transaction against the same rules. New transactions are bundled into blocks roughly every 10 minutes by miners, who compete using computing power in a process called Proof of Work.

Why does Bitcoin have value?

Bitcoin has a fixed maximum supply of 21 million coins, it can't be printed at will, it's hard to censor or seize, and it can be sent globally 24/7. Like gold, its value comes from scarcity and from people agreeing it's useful as a store of value and medium of exchange.

The halving

About every four years the reward for mining a block is cut in half. This halving steadily reduces the flow of new bitcoin until the last coin is mined around the year 2140.

How to get Bitcoin

Most people buy it on an exchange. Follow our step-by-step guide on how to buy Bitcoin, and check the live Bitcoin price. You don't need to buy a whole coin; you can buy a small fraction.

Risks to know

• Prices can swing 10% or more in a day.
• If you lose your private keys or seed phrase, your bitcoin is gone.
• Scammers target newcomers. Never share your seed phrase.

This guide is educational and not financial advice.