What is Bitcoin


Is Bitcoin The Same as Blockchain?

No. However, Bitcoin is underpinned by blockchain technology. Bitcoin is a form of Digital Currency, also known as Cryptocurrency.

Cryptocurrencies are a digital medium of exchange that employs the use of highly secure cryptography. Cryptocurrency is made possible with the use of Blockchain technology, where all transactions are recorded against a public registry and, with the use of smart contracts, can transact instantaneously or at a set point in time.

Bitcoin became the first Cryptocurrency in 2009, and since its inception, many forms of Cryptocurrencies have emerged such as Ethereum

Known as digital gold, Cryptocurrencies are a much faster means of making worldwide, instantaneous payments, and due to their private, transparent & cryptographic nature, they remain highly secure modes of payment. As such, Cryptocurrencies are accepted by institutions and organizations globally and are the preferred payment of many new entities, ICO’s and crowd funding exercises.