Are you confused about crypto? Does blockchain boggle your brain? Then panic not. Here at CoinCentral, we live and breathe this stuff every single day of the week. So for the benefit of the uninitiated, we’ve put together a summary of how it all works that’s so simple, even your granny will get it. This is our guide to Bitcoin for dummies.
Bitcoin is a peer-to-peer digital currency, where transactions are recorded on a distributed ledger. Don’t get scared by all the term because we’ll break it down a step at a time.
A Step-by-Step Guide to Bitcoin for Dummies
“Fiat” is the name of the currencies we use every day, the ones like US dollars, Mexican pesos, or Japanese yen, issued by central banks. These currencies evolved out of a need to create stored value. Their value derives from the faith we have in central banks to…