🕷️ Crawler Inspector

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Direct Parameter Lookup

Raw Queries and Responses

1. Shard Calculation

Query:

Response:

Calculated Shard: 192 (from laksa139)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa192.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical, ml_categories_json AS ml_categories_json, ml_types_json AS ml_types_json, ml_intent_types_json AS ml_intent_types_json, meta_language AS meta_language, attrs_author AS attrs_author, ifNull(toUnixTimestamp(attrs_publish_time), 0) AS attrs_publish_time, ifNull(toUnixTimestamp(attrs_original_publish_time), 0) AS attrs_original_publish_time, ifNull(attrs_is_republished, 0) AS attrs_is_republished, ifNull(attrs_nr_words, 0) AS attrs_nr_words, ifNull(attrs_boilerpipe_nr_words, 0) AS attrs_boilerpipe_nr_words, ifNull(body_ext_links_number, 0) AS body_ext_links_number, ifNull(body_int_links_number, 0) AS body_int_links_number, ifNull(meta_nofollow, 0) AS meta_nofollow, ifNull(meta_noarchive, 0) AS meta_noarchive, ifNull(props_was_rendered, 0) AS props_was_rendered, ifNull(src_redirect, \'\') AS src_redirect, ifNull(download_time_msec, 0) AS download_time_msec, ifNull(download_ttfb_msec, 0) AS download_ttfb_msec, ifNull(download_size, 0) AS download_size FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://finance.yahoo.com/personal-finance/investing/article/what-is-bitcoin-130000730.html\')), getAhrefsUnparsedNoserviceFromURL(\'https://finance.yahoo.com/personal-finance/investing/article/what-is-bitcoin-130000730.html\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/finance.yahoo.com\/personal-finance\/investing\/article\/what-is-bitcoin-130000730.html","crawl_time":1776016798,"first_indexed_time":1760447584,"http_code":200,"src_unparsed":"com,yahoo!finance,\/personal-finance\/investing\/article\/what-is-bitcoin-130000730.html s443","src_root_hash":"3401813433841292792","history_drop_reason":null,"meta_title":"What is bitcoin, and how does it work?","meta_descriptions":["From how to buy bitcoin to how it works — find out what you should know about bitcoin as a cryptocurrency."],"attrs_boilerpipe_text":"Bitcoin\n(\nBTC-USD\n) is a virtual currency that’s used as an investment and a form of payment for goods and services. It’s known for its volatility, so it’s important to understand how bitcoin works. Here’s what you need to know so you can make informed, risk-aware decisions about buying and using bitcoin.\nLearn more:\nHow to start investing: A 6-step guide\nBitcoin is a type of cryptocurrency, which is a currency that exists only in digital form and operates without government or banking oversight. By comparison, the U.S. dollar, the EU euro, the Canadian dollar, and other national currencies have paper versions and are issued by their respective governments.\nBitcoin relies on a public digital ledger that validates and records transactions and verifies bitcoin ownership. This ledger is called the blockchain, and it is globally distributed — that is, decentralized — across a broad, worldwide network of servers.\nDecentralization is a fundamental aspect of cryptocurrencies. Decentralization facilitates peer-to-peer payments with no banking intermediary, enhanced security, and defends against manipulation attempts.\nLearn more:\nRead all the latest crypto and bitcoin news at Yahoo Finance\nBitcoin is a technology innovation with a specific vocabulary. Here are some terms you should know:\nBlock.\nA block is a permanent digital record of validated transactions within the Bitcoin blockchain. Each block references the block that came before it, which hardens the chain against tampering.\nNode.\nA node is a computer, server, or similar device that stores the Bitcoin blockchain. Nodes monitor blockchain activity and can reject noncompliant transactions. There are over 18,000 Bitcoin nodes.\nBitcoin address.\nA Bitcoin address is a unique number that references a destination for Bitcoin payments.\nCryptography.\nCryptography is a mathematical system that the Bitcoin blockchain uses to verify and secure transactions.\nBitcoin mining.\nMining is the process of confirming transactions and adding blocks to the blockchain. Miners earn bitcoins for their work.\nBitcoin exchange.\nThis is an online platform that allows users to buy and sell bitcoin and convert it to other currencies.\nBitcoin wallet.\nA bitcoin wallet stores keys that unlock bitcoin. Wallets don’t hold bitcoin directly because the currency only exists on the blockchain. The keys are your proof of ownership and allow you to access your bitcoin — so you can safely buy, sell, and use it.\nLearn more:\nHow to protect your money during economic turmoil, stock market volatility\nAs a currency and investment, bitcoin has many benefits, including:\nFaster transactions.\nYou can usually send bitcoin to someone else within 10 to 60 minutes.\nCheaper transactions.\nThe cost of transferring bitcoin to another wallet is, on average, $0.50 to $2.50, but it can be more depending on how busy the network is and how much data is included in your transaction. By comparison, wire transfer fees can run as high as $60.\nDecentralization.\nDecentralization puts people in charge of their own finances. With traditional currency, banks and brokers are the gatekeepers of cash and financial assets. If the financial institution fails, it can limit asset access. Bitcoin’s decentralization makes it possible to store access keys directly on an offline hardware device.\nSecure.\nEach bitcoin transaction is subject to multiple verifications. It’s very difficult to fake, hack, or hijack the network.\nLearn more:\nWhat is a financial advisor, and what do they do?\nHowever, there are also some disadvantages to bitcoin to consider:\nVolatility.\nBitcoin’s value changes rapidly. This affects its utility as a medium of exchange. You could complete a transaction, and then realize you paid more than you expected because bitcoin’s price suddenly changed.\nHigh energy consumption.\nThe Bitcoin network uses a lot of electricity to verify transactions and add to the blockchain. A single transaction can use more electricity than the average U.S. household consumes in about 38 days.\nLack of history.\nBitcoin is a young currency — it only became available in 2009. The lack of history makes it difficult to predict how bitcoin will behave under extreme economic conditions.\nCompetition.\nWhile bitcoin is the most popular cryptocurrency, it faces competition from other cryptocurrencies that have faster, more efficient technology.\nNo risk-free income opportunities.\nBitcoin does not pay an interest yield the way cash does. There are ways to earn income on bitcoin, such as lending, but they aren’t without risk.\nLearn more:\nHow to invest in gold in 4 steps\nJoining an exchange is the simplest way to buy bitcoin. An exchange, like\nCoinbase\n, operates much like a stock trading app. Once you verify your identity, open an account, and add funds, you can begin trading. The exchange converts your dollars to bitcoin and vice versa. You can also exchange dollars or bitcoin for other cryptocurrencies or\nstablecoins\n.\nCrypto exchanges are user-friendly, but they are also centralized — which may be a drawback for some investors. But there are some ways to procure bitcoin without an exchange:\nBitcoin ATMs.\nTo buy bitcoin at an ATM, users provide a Bitcoin address and pay with cash or by swiping a debit card.\nPeer-to-peer exchanges.\nP2P exchanges (ex., Binance) are platforms that allow bitcoin traders to transact directly with one another.\nExchange integrations with wallets.\nThere are various hardware and software wallets available for bitcoin owners. Some have integrations that support payments and transfers.\nPlay-to-earn games.\nThere are apps and games that pay users in bitcoin for playing. Examples include Axie Infinity, The Sandbox, and Bitcoin Miner.\nBitcoin futures exchange-traded fund (ETF).\nThose interested in bitcoin as a long-term investment can also opt for indirect ownership through a Bitcoin ETF like the iShares fund (\nIBIT\n). These funds track the bitcoin price, but they’re centralized and charge an expense ratio.\nLearn more:\nCan you buy crypto with a credit card? See the pros and cons\n.\nOnce you have bitcoin on hand, you can use it to:\nSend money to any Bitcoin address globally\nBuy goods and services from merchants that accept it\nStore currency without using a bank\nDiversify your investment portfolio\nTrade on volatility for short-term gains\nGamble in a cryptocurrency casino\nKeep in mind:\nBitcoin’s effectiveness as a diversification asset is somewhat unproven. Though some data suggest that bitcoin’s behavior aligns with the stock market, particularly when stock prices are falling.\nLearn more:\nWant to buy a house with crypto? Here's what to expect\nOrigin and history of bitcoin\nBitcoin materialized from a\n2008 whitepaper\nwritten under the pen name Satoshi Nakamoto. In the paper, Nakamoto outlined a system for a transparent, independent, digital, and P2P currency system. Bitcoin mining began in the next year.\nBitcoin exchanges, like Coinbase, began to launch in the early 2010s, which made the cryptocurrency more accessible and interesting to a wider audience. Bitcoin has since grown in value and popularity.\nThe bitcoin supply is capped at 21 million coins. Over 19 million have already been mined. This scarcity contributes to its value.\nBitcoin is a technology-based currency that was first introduced in 2009, after an anonymous author — under the pen name Satoshi Nakamoto — conceptualized it in 2008.\nPeople value Bitcoin primarily because it is a decentralized, borderless currency. It supports efficient worldwide payments and has a limited supply of 21 million coins. Additionally, bitcoin is volatile enough to attract the attention of day traders and swing traders who seek to earn profits on quick price changes.\nLearn more:\nRobo-advisor: How to start investing right away\nHow has the bitcoin price changed between 2015 and 2025?\nIn January 2015, one bitcoin was worth about $320. By January 2025, one bitcoin was worth more than $90,000; as of October 2025, one Bitcoin was worth $120,000.\nBitcoin is legal in the U.S., but restricted or banned in other countries. You cannot use bitcoin in China, Afghanistan, Egypt, Kuwait, or other countries.\nBitcoin’s backbone is blockchain technology, which is difficult, if not impossible, to hack. However, there are other risks associated with cryptocurrency. Bitcoin’s volatility creates a high risk of financial loss. There are also bitcoin-based scams that attempt to dupe users into providing their personal information or sharing access to their Bitcoin keys.\nJamie Young and\nTim Manni\nedited this article.","attrs_markdown":"SOMETHING\\_WENT\\_WRONG\n\n[SKIP\\_TO\\_NAVIGATION](https:\/\/finance.yahoo.com\/personal-finance\/investing\/article\/what-is-bitcoin-130000730.html#navigation-container)  [SKIP\\_NAVIGATION](https:\/\/finance.yahoo.com\/personal-finance\/investing\/article\/what-is-bitcoin-130000730.html#nimbus-app)\n\n# YAHOO\\_FINANCE\n- [News](https:\/\/www.yahoo.com\/)\n  - [Today's news](https:\/\/www.yahoo.com\/news\/)\n  - [US](https:\/\/www.yahoo.com\/news\/us\/)\n  - [Politics](https:\/\/www.yahoo.com\/news\/politics\/)\n  - [World](https:\/\/www.yahoo.com\/news\/world\/)\n  - [Weather](https:\/\/weather.yahoo.com\/)\n  - [Climate change](https:\/\/www.yahoo.com\/issues\/climate-change\/)\n  - [Health](https:\/\/health.yahoo.com\/)\n    - [Wellness](https:\/\/health.yahoo.com\/wellness\/)\n      - 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[Investing](https:\/\/finance.yahoo.com\/personal-finance\/)\n\nSome offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our [Advertiser Disclosure](https:\/\/finance.yahoo.com\/personal-finance\/guidelines-for-personal-finance-content-222326718.html).\n\n[![Yahoo Personal Finance](https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/CG1fItRs06KVm5zJRlJavg--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTIzMjtoPTQ4\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2020-12\/e70e9a00-35a2-11eb-bdfd-3f73c982ffa9)](https:\/\/finance.yahoo.com\/ \"Yahoo Personal Finance\")\n\n# What is bitcoin, and how does it work?\n\n[C](https:\/\/finance.yahoo.com\/author\/catherine-brock)\n\n[Catherine Brock](https:\/\/finance.yahoo.com\/author\/catherine-brock)\n\nUPDATED\n\nJanuary 30, 2026\n\n7 MINUTES\\_READ\n\n[Bitcoin](https:\/\/finance.yahoo.com\/quote\/BTC-USD\/) ([BTC-USD](https:\/\/finance.yahoo.com\/quote\/BTC-USD)) is a virtual currency that’s used as an investment and a form of payment for goods and services. It’s known for its volatility, so it’s important to understand how bitcoin works. Here’s what you need to know so you can make informed, risk-aware decisions about buying and using bitcoin.\n\n*Learn more:* [*How to start investing: A 6-step guide*](https:\/\/finance.yahoo.com\/personal-finance\/investing\/article\/how-to-start-investing-162530701.html)\n\n## What exactly is bitcoin, and how does it work?\nBitcoin is a type of cryptocurrency, which is a currency that exists only in digital form and operates without government or banking oversight. By comparison, the U.S. dollar, the EU euro, the Canadian dollar, and other national currencies have paper versions and are issued by their respective governments.\n\nBitcoin relies on a public digital ledger that validates and records transactions and verifies bitcoin ownership. This ledger is called the blockchain, and it is globally distributed — that is, decentralized — across a broad, worldwide network of servers.\n\nDecentralization is a fundamental aspect of cryptocurrencies. Decentralization facilitates peer-to-peer payments with no banking intermediary, enhanced security, and defends against manipulation attempts.\n\n*Learn more:* [*Read all the latest crypto and bitcoin news at Yahoo Finance*](https:\/\/finance.yahoo.com\/topic\/crypto\/)\n\n## Bitcoin terms to know\nBitcoin is a technology innovation with a specific vocabulary. Here are some terms you should know:\n\n- **Block.** A block is a permanent digital record of validated transactions within the Bitcoin blockchain. Each block references the block that came before it, which hardens the chain against tampering.\n- **Node.** A node is a computer, server, or similar device that stores the Bitcoin blockchain. Nodes monitor blockchain activity and can reject noncompliant transactions. There are over 18,000 Bitcoin nodes.\n- **Bitcoin address.** A Bitcoin address is a unique number that references a destination for Bitcoin payments.\n- **Cryptography.** Cryptography is a mathematical system that the Bitcoin blockchain uses to verify and secure transactions.\n- **Bitcoin mining.** Mining is the process of confirming transactions and adding blocks to the blockchain. Miners earn bitcoins for their work.\n- **Bitcoin exchange.** This is an online platform that allows users to buy and sell bitcoin and convert it to other currencies.\n- **Bitcoin wallet.** A bitcoin wallet stores keys that unlock bitcoin. Wallets don’t hold bitcoin directly because the currency only exists on the blockchain. The keys are your proof of ownership and allow you to access your bitcoin — so you can safely buy, sell, and use it.\n\n*Learn more:* [*How to protect your money during economic turmoil, stock market volatility*](https:\/\/finance.yahoo.com\/personal-finance\/investing\/article\/how-to-protect-your-money-during-economic-turmoil-stock-market-volatility-174937265.html)\n\n## Pros and cons of bitcoin\n### Pros\nAs a currency and investment, bitcoin has many benefits, including:\n\n- **Faster transactions.** You can usually send bitcoin to someone else within 10 to 60 minutes.\n- **Cheaper transactions.** The cost of transferring bitcoin to another wallet is, on average, \\$0.50 to \\$2.50, but it can be more depending on how busy the network is and how much data is included in your transaction. By comparison, wire transfer fees can run as high as \\$60.\n- **Decentralization.** Decentralization puts people in charge of their own finances. With traditional currency, banks and brokers are the gatekeepers of cash and financial assets. If the financial institution fails, it can limit asset access. Bitcoin’s decentralization makes it possible to store access keys directly on an offline hardware device.\n- **Secure.** Each bitcoin transaction is subject to multiple verifications. It’s very difficult to fake, hack, or hijack the network.\n\n*Learn more:* [*What is a financial advisor, and what do they do?*](https:\/\/finance.yahoo.com\/personal-finance\/investing\/article\/what-is-a-financial-advisor-and-what-does-a-financial-advisor-do-152541716.html)\n\n### Cons\nHowever, there are also some disadvantages to bitcoin to consider:\n\n- **Volatility.** Bitcoin’s value changes rapidly. This affects its utility as a medium of exchange. You could complete a transaction, and then realize you paid more than you expected because bitcoin’s price suddenly changed.\n- **High energy consumption.** The Bitcoin network uses a lot of electricity to verify transactions and add to the blockchain. A single transaction can use more electricity than the average U.S. household consumes in about 38 days.\n- **Lack of history.** Bitcoin is a young currency — it only became available in 2009. The lack of history makes it difficult to predict how bitcoin will behave under extreme economic conditions.\n- **Competition.** While bitcoin is the most popular cryptocurrency, it faces competition from other cryptocurrencies that have faster, more efficient technology.\n- **No risk-free income opportunities.** Bitcoin does not pay an interest yield the way cash does. There are ways to earn income on bitcoin, such as lending, but they aren’t without risk.\n\n*Learn more:* [*How to invest in gold in 4 steps*](https:\/\/finance.yahoo.com\/personal-finance\/investing\/article\/how-to-invest-in-gold-181632105.html)\n\n## How to buy bitcoin\nJoining an exchange is the simplest way to buy bitcoin. An exchange, like [Coinbase](https:\/\/finance.yahoo.com\/personal-finance\/credit-cards\/article\/coinbase-reveals-new-bitcoin-credit-card-185439289.html), operates much like a stock trading app. Once you verify your identity, open an account, and add funds, you can begin trading. The exchange converts your dollars to bitcoin and vice versa. You can also exchange dollars or bitcoin for other cryptocurrencies or [stablecoins](https:\/\/finance.yahoo.com\/personal-finance\/investing\/article\/what-is-a-stablecoin-130038254.html).\n\nCrypto exchanges are user-friendly, but they are also centralized — which may be a drawback for some investors. But there are some ways to procure bitcoin without an exchange:\n\n- **Bitcoin ATMs.** To buy bitcoin at an ATM, users provide a Bitcoin address and pay with cash or by swiping a debit card.\n- **Peer-to-peer exchanges.** P2P exchanges (ex., Binance) are platforms that allow bitcoin traders to transact directly with one another.\n- **Exchange integrations with wallets.** There are various hardware and software wallets available for bitcoin owners. Some have integrations that support payments and transfers.\n- **Play-to-earn games.** There are apps and games that pay users in bitcoin for playing. Examples include Axie Infinity, The Sandbox, and Bitcoin Miner.\n- **Bitcoin futures exchange-traded fund (ETF).** Those interested in bitcoin as a long-term investment can also opt for indirect ownership through a Bitcoin ETF like the iShares fund ([IBIT](https:\/\/finance.yahoo.com\/quote\/IBIT\/)). These funds track the bitcoin price, but they’re centralized and charge an expense ratio.\n\n*Learn more:* [*Can you buy crypto with a credit card? See the pros and cons*](https:\/\/finance.yahoo.com\/personal-finance\/credit-cards\/article\/buy-crypto-with-credit-card-223323104.html)*.*\n\nEU\\_CONSENT\\_BLOCKED\n\n## Ways to use bitcoin\nOnce you have bitcoin on hand, you can use it to:\n\n- Send money to any Bitcoin address globally\n- Buy goods and services from merchants that accept it\n- Store currency without using a bank\n- Diversify your investment portfolio\n- Trade on volatility for short-term gains\n- Gamble in a cryptocurrency casino\n\n**Keep in mind:** Bitcoin’s effectiveness as a diversification asset is somewhat unproven. Though some data suggest that bitcoin’s behavior aligns with the stock market, particularly when stock prices are falling.\n\n*Learn more:* [*Want to buy a house with crypto? Here's what to expect*](https:\/\/finance.yahoo.com\/personal-finance\/mortgages\/article\/can-you-buy-a-house-with-cryptocurrency-163607140.html)\n\n## Origin and history of bitcoin\nBitcoin materialized from a [2008 whitepaper](https:\/\/bitcoin.org\/bitcoin.pdf) written under the pen name Satoshi Nakamoto. In the paper, Nakamoto outlined a system for a transparent, independent, digital, and P2P currency system. Bitcoin mining began in the next year.\n\nBitcoin exchanges, like Coinbase, began to launch in the early 2010s, which made the cryptocurrency more accessible and interesting to a wider audience. Bitcoin has since grown in value and popularity.\n\nThe bitcoin supply is capped at 21 million coins. Over 19 million have already been mined. This scarcity contributes to its value.\n\n## Bitcoin FAQs\n### Where did bitcoin come from?\nBitcoin is a technology-based currency that was first introduced in 2009, after an anonymous author — under the pen name Satoshi Nakamoto — conceptualized it in 2008.\n\n### Why does bitcoin have value?\nPeople value Bitcoin primarily because it is a decentralized, borderless currency. It supports efficient worldwide payments and has a limited supply of 21 million coins. Additionally, bitcoin is volatile enough to attract the attention of day traders and swing traders who seek to earn profits on quick price changes.\n\n*Learn more:* [*Robo-advisor: How to start investing right away*](https:\/\/finance.yahoo.com\/personal-finance\/investing\/article\/robo-advisor-210202607.html)\n\n### How has the bitcoin price changed between 2015 and 2025?\nIn January 2015, one bitcoin was worth about \\$320. By January 2025, one bitcoin was worth more than \\$90,000; as of October 2025, one Bitcoin was worth \\$120,000.\n\n### Is bitcoin legal?\nBitcoin is legal in the U.S., but restricted or banned in other countries. You cannot use bitcoin in China, Afghanistan, Egypt, Kuwait, or other countries.\n\n### Is bitcoin safe?\nBitcoin’s backbone is blockchain technology, which is difficult, if not impossible, to hack. However, there are other risks associated with cryptocurrency. Bitcoin’s volatility creates a high risk of financial loss. There are also bitcoin-based scams that attempt to dupe users into providing their personal information or sharing access to their Bitcoin keys.\n\n*Jamie Young and* [*Tim Manni*](https:\/\/finance.yahoo.com\/author\/tim-manni\/) *edited this article.*\n\nMORE\\_FROM\\_YAHOO\\_SCOUT\n\nWhat is bitcoin's origin and history?\n\nWhat is bitcoin and how does it work?\n\nHow can someone buy and use bitcoin?\n\nWhat are the main advantages and disadvantages of bitcoin?\n\n### READ\\_MORE\n[![Is bitcoin's price volatility an investing opportunity? Here's how to buy bitcoin.](https:\/\/s.yimg.com\/lo\/mysterio\/api\/C6E8B9661F421D34A6D9858368ACC4FEDC82C1B4905BE0FF3F4A02B8F8A23630\/subgraphmysterio\/resizefill_w194_h109;quality_80;format_webp\/https:%2F%2Fs.yimg.com%2Fos%2Fcreatr-uploaded-images%2F2026-02%2F0a856b20-0ddf-11f1-bfcb-1a49076d0c61)](https:\/\/finance.yahoo.com\/personal-finance\/investing\/article\/how-to-buy-bitcoin-222211772.html \"Is bitcoin's price volatility an investing opportunity? Here's how to buy bitcoin.\")\n\n[Is bitcoin's price volatility an investing opportunity? Here's how to buy bitcoin. Is the recent bitcoin slump a buying opportunity? Discover the safest ways to buy and store bitcoin in 2026.](https:\/\/finance.yahoo.com\/personal-finance\/investing\/article\/how-to-buy-bitcoin-222211772.html \"Is bitcoin's price volatility an investing opportunity? Here's how to buy bitcoin.\")\n\n[![How to invest in cryptocurrency: A beginner's guide](https:\/\/s.yimg.com\/lo\/mysterio\/api\/37A90DEE85B3427086B5BE9506AA33DC0052F9DE7A633CF5077C8966A14545AD\/subgraphmysterio\/resizefill_w194_h109;quality_80;format_webp\/https:%2F%2Fd29szjachogqwa.cloudfront.net%2Fimages%2F2026-03%2Ff7429e14-2e4f-4115-a0fb-f14e9c9bf80a)](https:\/\/finance.yahoo.com\/personal-finance\/investing\/article\/how-to-invest-in-cryptocurrency-for-beginners-155910593.html \"How to invest in cryptocurrency: A beginner's guide\")\n\n[How to invest in cryptocurrency: A beginner's guide Before you place your first trade, it's important to understand what cryptocurrency is and how it works. 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This step-by-step guide breaks down how to trade, where to buy, and how to protect your digital assets.](https:\/\/finance.yahoo.com\/personal-finance\/investing\/article\/how-to-trade-crypto-151041383.html \"How to trade crypto: A step-by-step guide\")\n\n[![What is a crypto wallet? A beginner's guide to crypto storage.](https:\/\/s.yimg.com\/lo\/mysterio\/api\/719DB7AF3BC8907E3FDE8853346134EC578747E5197DBEE8DE38EA25333C8EB8\/subgraphmysterio\/resizefill_w194_h109;quality_80;format_webp\/https:%2F%2Fd29szjachogqwa.cloudfront.net%2Fimages%2F2026-03%2F0ac9d819-f29d-4f79-a135-4bf86a4d5cfa)](https:\/\/finance.yahoo.com\/personal-finance\/investing\/article\/what-is-a-crypto-wallet-135059733.html \"What is a crypto wallet? A beginner's guide to crypto storage.\")\n\n[What is a crypto wallet? A beginner's guide to crypto storage. 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What you can gain (and lose) by earning bitcoin rewards on spending\")\n\n[![How to navigate a crypto meltdown: 'Be willing to hold on'](https:\/\/s.yimg.com\/lo\/mysterio\/api\/43D04B9BDF5451F04BE6A41FCCDFAB839C4AF49B7C48BF76ECF2CCE48D100478\/subgraphmysterio\/resizefill_w194_h109;quality_80;format_webp\/https:%2F%2Fs.yimg.com%2Fos%2Fcreatr-uploaded-images%2F2024-02%2F1ef17de0-d698-11ee-81ad-d4f00700ab4f)](https:\/\/finance.yahoo.com\/personal-finance\/investing\/article\/how-to-navigate-a-crypto-crash-155317977.html \"How to navigate a crypto meltdown: 'Be willing to hold on'\")\n\n[How to navigate a crypto meltdown: 'Be willing to hold on' Financial advisors are reversing course on cryptocurrencies as an investment. So what happens when the next crypto crash occurs?](https:\/\/finance.yahoo.com\/personal-finance\/investing\/article\/how-to-navigate-a-crypto-crash-155317977.html \"How to navigate a crypto meltdown: 'Be willing to hold on'\")\n\nCOPYRIGHT\n\nWHATS\\_TRENDING\n\n[Dow Jones](https:\/\/finance.yahoo.com\/quote\/%5EDJI\/) [S\\&P 500](https:\/\/finance.yahoo.com\/quote\/SPY\/) [DAX Index](https:\/\/finance.yahoo.com\/quote\/%5EGDAXI\/) [Nvidia](https:\/\/finance.yahoo.com\/quote\/NVDA\/) [Tesla](https:\/\/finance.yahoo.com\/quote\/TSLA\/) [DJT](https:\/\/finance.yahoo.com\/quote\/DJT\/) [Tariffs](https:\/\/finance.yahoo.com\/topic\/tariffs\/)\n\nEXPLORE\\_MORE\n\n[Mortgages](https:\/\/finance.yahoo.com\/personal-finance\/mortgages\/) [Credit Cards](https:\/\/finance.yahoo.com\/personal-finance\/credit-cards\/) [Sectors](https:\/\/finance.yahoo.com\/sectors\/) [Crypto Heatmap](https:\/\/finance.yahoo.com\/crypto\/heatmap\/) [Financial News](https:\/\/finance.yahoo.com\/news\/)\n\nABOUT\n\n[Data Disclaimer](https:\/\/help.yahoo.com\/kb\/finance-for-web\/SLN2310.html?locale=en_US) [Help](https:\/\/help.yahoo.com\/kb\/finance-for-web) [Feedback](https:\/\/yahoo.uservoice.com\/forums\/952723-finance-b3) [Sitemap](https:\/\/finance.yahoo.com\/sitemap\/) [Licensing](https:\/\/info.wrightsmedia.com\/yahoo-finance-licensing) [What's New](https:\/\/finance.yahoo.com\/about\/whatsnew\/) [About Our Ads](https:\/\/policies.oath.com\/us\/en\/oath\/privacy\/adinfo\/index.html)\n\n[TERMS](https:\/\/guce.yahoo.com\/terms?locale=en-US)  AND [PRIVACY\\_POLICY](https:\/\/guce.yahoo.com\/privacy-policy?locale=en-US)\n\n[Privacy & Cookie Settings](https:\/\/guce.yahoo.com\/privacy-settings?locale=en-US)\n\n[More Info](https:\/\/finance.yahoo.com\/more-info)","attrs_readable_markdown":"[Bitcoin](https:\/\/finance.yahoo.com\/quote\/BTC-USD\/) ([BTC-USD](https:\/\/finance.yahoo.com\/quote\/BTC-USD)) is a virtual currency that’s used as an investment and a form of payment for goods and services. It’s known for its volatility, so it’s important to understand how bitcoin works. Here’s what you need to know so you can make informed, risk-aware decisions about buying and using bitcoin.\n\n*Learn more:* [*How to start investing: A 6-step guide*](https:\/\/finance.yahoo.com\/personal-finance\/investing\/article\/how-to-start-investing-162530701.html)\n\nBitcoin is a type of cryptocurrency, which is a currency that exists only in digital form and operates without government or banking oversight. By comparison, the U.S. dollar, the EU euro, the Canadian dollar, and other national currencies have paper versions and are issued by their respective governments.\n\nBitcoin relies on a public digital ledger that validates and records transactions and verifies bitcoin ownership. This ledger is called the blockchain, and it is globally distributed — that is, decentralized — across a broad, worldwide network of servers.\n\nDecentralization is a fundamental aspect of cryptocurrencies. Decentralization facilitates peer-to-peer payments with no banking intermediary, enhanced security, and defends against manipulation attempts.\n\n*Learn more:* [*Read all the latest crypto and bitcoin news at Yahoo Finance*](https:\/\/finance.yahoo.com\/topic\/crypto\/)\n\nBitcoin is a technology innovation with a specific vocabulary. Here are some terms you should know:\n\n- **Block.** A block is a permanent digital record of validated transactions within the Bitcoin blockchain. Each block references the block that came before it, which hardens the chain against tampering.\n- **Node.** A node is a computer, server, or similar device that stores the Bitcoin blockchain. Nodes monitor blockchain activity and can reject noncompliant transactions. There are over 18,000 Bitcoin nodes.\n- **Bitcoin address.** A Bitcoin address is a unique number that references a destination for Bitcoin payments.\n- **Cryptography.** Cryptography is a mathematical system that the Bitcoin blockchain uses to verify and secure transactions.\n- **Bitcoin mining.** Mining is the process of confirming transactions and adding blocks to the blockchain. Miners earn bitcoins for their work.\n- **Bitcoin exchange.** This is an online platform that allows users to buy and sell bitcoin and convert it to other currencies.\n- **Bitcoin wallet.** A bitcoin wallet stores keys that unlock bitcoin. Wallets don’t hold bitcoin directly because the currency only exists on the blockchain. The keys are your proof of ownership and allow you to access your bitcoin — so you can safely buy, sell, and use it.\n\n*Learn more:* [*How to protect your money during economic turmoil, stock market volatility*](https:\/\/finance.yahoo.com\/personal-finance\/investing\/article\/how-to-protect-your-money-during-economic-turmoil-stock-market-volatility-174937265.html)\n\nAs a currency and investment, bitcoin has many benefits, including:\n\n- **Faster transactions.** You can usually send bitcoin to someone else within 10 to 60 minutes.\n- **Cheaper transactions.** The cost of transferring bitcoin to another wallet is, on average, \\$0.50 to \\$2.50, but it can be more depending on how busy the network is and how much data is included in your transaction. By comparison, wire transfer fees can run as high as \\$60.\n- **Decentralization.** Decentralization puts people in charge of their own finances. With traditional currency, banks and brokers are the gatekeepers of cash and financial assets. If the financial institution fails, it can limit asset access. Bitcoin’s decentralization makes it possible to store access keys directly on an offline hardware device.\n- **Secure.** Each bitcoin transaction is subject to multiple verifications. It’s very difficult to fake, hack, or hijack the network.\n\n*Learn more:* [*What is a financial advisor, and what do they do?*](https:\/\/finance.yahoo.com\/personal-finance\/investing\/article\/what-is-a-financial-advisor-and-what-does-a-financial-advisor-do-152541716.html)\n\nHowever, there are also some disadvantages to bitcoin to consider:\n\n- **Volatility.** Bitcoin’s value changes rapidly. This affects its utility as a medium of exchange. You could complete a transaction, and then realize you paid more than you expected because bitcoin’s price suddenly changed.\n- **High energy consumption.** The Bitcoin network uses a lot of electricity to verify transactions and add to the blockchain. A single transaction can use more electricity than the average U.S. household consumes in about 38 days.\n- **Lack of history.** Bitcoin is a young currency — it only became available in 2009. The lack of history makes it difficult to predict how bitcoin will behave under extreme economic conditions.\n- **Competition.** While bitcoin is the most popular cryptocurrency, it faces competition from other cryptocurrencies that have faster, more efficient technology.\n- **No risk-free income opportunities.** Bitcoin does not pay an interest yield the way cash does. There are ways to earn income on bitcoin, such as lending, but they aren’t without risk.\n\n*Learn more:* [*How to invest in gold in 4 steps*](https:\/\/finance.yahoo.com\/personal-finance\/investing\/article\/how-to-invest-in-gold-181632105.html)\n\nJoining an exchange is the simplest way to buy bitcoin. An exchange, like [Coinbase](https:\/\/finance.yahoo.com\/personal-finance\/credit-cards\/article\/coinbase-reveals-new-bitcoin-credit-card-185439289.html), operates much like a stock trading app. Once you verify your identity, open an account, and add funds, you can begin trading. The exchange converts your dollars to bitcoin and vice versa. You can also exchange dollars or bitcoin for other cryptocurrencies or [stablecoins](https:\/\/finance.yahoo.com\/personal-finance\/investing\/article\/what-is-a-stablecoin-130038254.html).\n\nCrypto exchanges are user-friendly, but they are also centralized — which may be a drawback for some investors. But there are some ways to procure bitcoin without an exchange:\n\n- **Bitcoin ATMs.** To buy bitcoin at an ATM, users provide a Bitcoin address and pay with cash or by swiping a debit card.\n- **Peer-to-peer exchanges.** P2P exchanges (ex., Binance) are platforms that allow bitcoin traders to transact directly with one another.\n- **Exchange integrations with wallets.** There are various hardware and software wallets available for bitcoin owners. Some have integrations that support payments and transfers.\n- **Play-to-earn games.** There are apps and games that pay users in bitcoin for playing. Examples include Axie Infinity, The Sandbox, and Bitcoin Miner.\n- **Bitcoin futures exchange-traded fund (ETF).** Those interested in bitcoin as a long-term investment can also opt for indirect ownership through a Bitcoin ETF like the iShares fund ([IBIT](https:\/\/finance.yahoo.com\/quote\/IBIT\/)). These funds track the bitcoin price, but they’re centralized and charge an expense ratio.\n\n*Learn more:* [*Can you buy crypto with a credit card? See the pros and cons*](https:\/\/finance.yahoo.com\/personal-finance\/credit-cards\/article\/buy-crypto-with-credit-card-223323104.html)*.*\n\nOnce you have bitcoin on hand, you can use it to:\n\n- Send money to any Bitcoin address globally\n- Buy goods and services from merchants that accept it\n- Store currency without using a bank\n- Diversify your investment portfolio\n- Trade on volatility for short-term gains\n- Gamble in a cryptocurrency casino\n\n**Keep in mind:** Bitcoin’s effectiveness as a diversification asset is somewhat unproven. Though some data suggest that bitcoin’s behavior aligns with the stock market, particularly when stock prices are falling.\n\n*Learn more:* [*Want to buy a house with crypto? Here's what to expect*](https:\/\/finance.yahoo.com\/personal-finance\/mortgages\/article\/can-you-buy-a-house-with-cryptocurrency-163607140.html)\n\n## Origin and history of bitcoin\nBitcoin materialized from a [2008 whitepaper](https:\/\/bitcoin.org\/bitcoin.pdf) written under the pen name Satoshi Nakamoto. In the paper, Nakamoto outlined a system for a transparent, independent, digital, and P2P currency system. Bitcoin mining began in the next year.\n\nBitcoin exchanges, like Coinbase, began to launch in the early 2010s, which made the cryptocurrency more accessible and interesting to a wider audience. Bitcoin has since grown in value and popularity.\n\nThe bitcoin supply is capped at 21 million coins. Over 19 million have already been mined. This scarcity contributes to its value.\n\nBitcoin is a technology-based currency that was first introduced in 2009, after an anonymous author — under the pen name Satoshi Nakamoto — conceptualized it in 2008.\n\nPeople value Bitcoin primarily because it is a decentralized, borderless currency. It supports efficient worldwide payments and has a limited supply of 21 million coins. Additionally, bitcoin is volatile enough to attract the attention of day traders and swing traders who seek to earn profits on quick price changes.\n\n*Learn more:* [*Robo-advisor: How to start investing right away*](https:\/\/finance.yahoo.com\/personal-finance\/investing\/article\/robo-advisor-210202607.html)\n\n### How has the bitcoin price changed between 2015 and 2025?\nIn January 2015, one bitcoin was worth about \\$320. By January 2025, one bitcoin was worth more than \\$90,000; as of October 2025, one Bitcoin was worth \\$120,000.\n\nBitcoin is legal in the U.S., but restricted or banned in other countries. You cannot use bitcoin in China, Afghanistan, Egypt, Kuwait, or other countries.\n\nBitcoin’s backbone is blockchain technology, which is difficult, if not impossible, to hack. However, there are other risks associated with cryptocurrency. Bitcoin’s volatility creates a high risk of financial loss. There are also bitcoin-based scams that attempt to dupe users into providing their personal information or sharing access to their Bitcoin keys.\n\n*Jamie Young and* [*Tim Manni*](https:\/\/finance.yahoo.com\/author\/tim-manni\/) *edited this article.*","meta_canonical":null,"ml_categories_json":"{\"\/Finance\":990,\"\/Finance\/Investing\":986,\"\/Finance\/Investing\/Currencies_and_Foreign_Exchange\":712}","ml_types_json":"{\"\/Article\":994,\"\/Article\/Definitions\":542}","ml_intent_types_json":"{\"Informational\":999,\"Commercial\":105}","meta_language":"en-us","attrs_author":"Catherine Brock","attrs_publish_time":1769784211,"attrs_original_publish_time":1760447584,"attrs_is_republished":1,"attrs_nr_words":"2724","attrs_boilerpipe_nr_words":"1348","body_ext_links_number":9,"body_int_links_number":518,"meta_nofollow":0,"meta_noarchive":0,"props_was_rendered":1,"src_redirect":"","download_time_msec":940,"download_ttfb_msec":928,"download_size":88121}

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Bitcoin ( BTC-USD ) is a virtual currency that’s used as an investment and a form of payment for goods and services. It’s known for its volatility, so it’s important to understand how bitcoin works. Here’s what you need to know so you can make informed, risk-aware decisions about buying and using bitcoin. Learn more: How to start investing: A 6-step guide Bitcoin is a type of cryptocurrency, which is a currency that exists only in digital form and operates without government or banking oversight. By comparison, the U.S. dollar, the EU euro, the Canadian dollar, and other national currencies have paper versions and are issued by their respective governments. Bitcoin relies on a public digital ledger that validates and records transactions and verifies bitcoin ownership. This ledger is called the blockchain, and it is globally distributed — that is, decentralized — across a broad, worldwide network of servers. Decentralization is a fundamental aspect of cryptocurrencies. Decentralization facilitates peer-to-peer payments with no banking intermediary, enhanced security, and defends against manipulation attempts. Learn more: Read all the latest crypto and bitcoin news at Yahoo Finance Bitcoin is a technology innovation with a specific vocabulary. Here are some terms you should know: Block. A block is a permanent digital record of validated transactions within the Bitcoin blockchain. Each block references the block that came before it, which hardens the chain against tampering. Node. A node is a computer, server, or similar device that stores the Bitcoin blockchain. Nodes monitor blockchain activity and can reject noncompliant transactions. There are over 18,000 Bitcoin nodes. Bitcoin address. A Bitcoin address is a unique number that references a destination for Bitcoin payments. Cryptography. Cryptography is a mathematical system that the Bitcoin blockchain uses to verify and secure transactions. Bitcoin mining. Mining is the process of confirming transactions and adding blocks to the blockchain. Miners earn bitcoins for their work. Bitcoin exchange. This is an online platform that allows users to buy and sell bitcoin and convert it to other currencies. Bitcoin wallet. A bitcoin wallet stores keys that unlock bitcoin. Wallets don’t hold bitcoin directly because the currency only exists on the blockchain. The keys are your proof of ownership and allow you to access your bitcoin — so you can safely buy, sell, and use it. Learn more: How to protect your money during economic turmoil, stock market volatility As a currency and investment, bitcoin has many benefits, including: Faster transactions. You can usually send bitcoin to someone else within 10 to 60 minutes. Cheaper transactions. The cost of transferring bitcoin to another wallet is, on average, $0.50 to $2.50, but it can be more depending on how busy the network is and how much data is included in your transaction. By comparison, wire transfer fees can run as high as $60. Decentralization. Decentralization puts people in charge of their own finances. With traditional currency, banks and brokers are the gatekeepers of cash and financial assets. If the financial institution fails, it can limit asset access. Bitcoin’s decentralization makes it possible to store access keys directly on an offline hardware device. Secure. Each bitcoin transaction is subject to multiple verifications. It’s very difficult to fake, hack, or hijack the network. Learn more: What is a financial advisor, and what do they do? However, there are also some disadvantages to bitcoin to consider: Volatility. Bitcoin’s value changes rapidly. This affects its utility as a medium of exchange. You could complete a transaction, and then realize you paid more than you expected because bitcoin’s price suddenly changed. High energy consumption. The Bitcoin network uses a lot of electricity to verify transactions and add to the blockchain. A single transaction can use more electricity than the average U.S. household consumes in about 38 days. Lack of history. Bitcoin is a young currency — it only became available in 2009. The lack of history makes it difficult to predict how bitcoin will behave under extreme economic conditions. Competition. While bitcoin is the most popular cryptocurrency, it faces competition from other cryptocurrencies that have faster, more efficient technology. No risk-free income opportunities. Bitcoin does not pay an interest yield the way cash does. There are ways to earn income on bitcoin, such as lending, but they aren’t without risk. Learn more: How to invest in gold in 4 steps Joining an exchange is the simplest way to buy bitcoin. An exchange, like Coinbase , operates much like a stock trading app. Once you verify your identity, open an account, and add funds, you can begin trading. The exchange converts your dollars to bitcoin and vice versa. You can also exchange dollars or bitcoin for other cryptocurrencies or stablecoins . Crypto exchanges are user-friendly, but they are also centralized — which may be a drawback for some investors. But there are some ways to procure bitcoin without an exchange: Bitcoin ATMs. To buy bitcoin at an ATM, users provide a Bitcoin address and pay with cash or by swiping a debit card. Peer-to-peer exchanges. P2P exchanges (ex., Binance) are platforms that allow bitcoin traders to transact directly with one another. Exchange integrations with wallets. There are various hardware and software wallets available for bitcoin owners. Some have integrations that support payments and transfers. Play-to-earn games. There are apps and games that pay users in bitcoin for playing. Examples include Axie Infinity, The Sandbox, and Bitcoin Miner. Bitcoin futures exchange-traded fund (ETF). Those interested in bitcoin as a long-term investment can also opt for indirect ownership through a Bitcoin ETF like the iShares fund ( IBIT ). These funds track the bitcoin price, but they’re centralized and charge an expense ratio. Learn more: Can you buy crypto with a credit card? See the pros and cons . Once you have bitcoin on hand, you can use it to: Send money to any Bitcoin address globally Buy goods and services from merchants that accept it Store currency without using a bank Diversify your investment portfolio Trade on volatility for short-term gains Gamble in a cryptocurrency casino Keep in mind: Bitcoin’s effectiveness as a diversification asset is somewhat unproven. Though some data suggest that bitcoin’s behavior aligns with the stock market, particularly when stock prices are falling. Learn more: Want to buy a house with crypto? Here's what to expect Origin and history of bitcoin Bitcoin materialized from a 2008 whitepaper written under the pen name Satoshi Nakamoto. In the paper, Nakamoto outlined a system for a transparent, independent, digital, and P2P currency system. Bitcoin mining began in the next year. Bitcoin exchanges, like Coinbase, began to launch in the early 2010s, which made the cryptocurrency more accessible and interesting to a wider audience. Bitcoin has since grown in value and popularity. The bitcoin supply is capped at 21 million coins. Over 19 million have already been mined. This scarcity contributes to its value. Bitcoin is a technology-based currency that was first introduced in 2009, after an anonymous author — under the pen name Satoshi Nakamoto — conceptualized it in 2008. People value Bitcoin primarily because it is a decentralized, borderless currency. It supports efficient worldwide payments and has a limited supply of 21 million coins. Additionally, bitcoin is volatile enough to attract the attention of day traders and swing traders who seek to earn profits on quick price changes. Learn more: Robo-advisor: How to start investing right away How has the bitcoin price changed between 2015 and 2025? In January 2015, one bitcoin was worth about $320. By January 2025, one bitcoin was worth more than $90,000; as of October 2025, one Bitcoin was worth $120,000. Bitcoin is legal in the U.S., but restricted or banned in other countries. You cannot use bitcoin in China, Afghanistan, Egypt, Kuwait, or other countries. Bitcoin’s backbone is blockchain technology, which is difficult, if not impossible, to hack. However, there are other risks associated with cryptocurrency. Bitcoin’s volatility creates a high risk of financial loss. There are also bitcoin-based scams that attempt to dupe users into providing their personal information or sharing access to their Bitcoin keys. Jamie Young and Tim Manni edited this article.

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[Child Tax Credit](https://finance.yahoo.com/personal-finance/taxes/article/child-tax-credit-2023-170245284.html) ... ADVERTISEMENT 1. [Personal Finance](https://finance.yahoo.com/personal-finance/) 2. / 3. [Investing](https://finance.yahoo.com/personal-finance/) Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our [Advertiser Disclosure](https://finance.yahoo.com/personal-finance/guidelines-for-personal-finance-content-222326718.html). [![Yahoo Personal Finance](https://s.yimg.com/ny/api/res/1.2/CG1fItRs06KVm5zJRlJavg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTIzMjtoPTQ4/https://s.yimg.com/os/creatr-uploaded-images/2020-12/e70e9a00-35a2-11eb-bdfd-3f73c982ffa9)](https://finance.yahoo.com/ "Yahoo Personal Finance") # What is bitcoin, and how does it work? [C](https://finance.yahoo.com/author/catherine-brock) [Catherine Brock](https://finance.yahoo.com/author/catherine-brock) UPDATED January 30, 2026 7 MINUTES\_READ [Bitcoin](https://finance.yahoo.com/quote/BTC-USD/) ([BTC-USD](https://finance.yahoo.com/quote/BTC-USD)) is a virtual currency that’s used as an investment and a form of payment for goods and services. It’s known for its volatility, so it’s important to understand how bitcoin works. Here’s what you need to know so you can make informed, risk-aware decisions about buying and using bitcoin. *Learn more:* [*How to start investing: A 6-step guide*](https://finance.yahoo.com/personal-finance/investing/article/how-to-start-investing-162530701.html) ## What exactly is bitcoin, and how does it work? Bitcoin is a type of cryptocurrency, which is a currency that exists only in digital form and operates without government or banking oversight. By comparison, the U.S. dollar, the EU euro, the Canadian dollar, and other national currencies have paper versions and are issued by their respective governments. Bitcoin relies on a public digital ledger that validates and records transactions and verifies bitcoin ownership. This ledger is called the blockchain, and it is globally distributed — that is, decentralized — across a broad, worldwide network of servers. Decentralization is a fundamental aspect of cryptocurrencies. Decentralization facilitates peer-to-peer payments with no banking intermediary, enhanced security, and defends against manipulation attempts. *Learn more:* [*Read all the latest crypto and bitcoin news at Yahoo Finance*](https://finance.yahoo.com/topic/crypto/) ## Bitcoin terms to know Bitcoin is a technology innovation with a specific vocabulary. Here are some terms you should know: - **Block.** A block is a permanent digital record of validated transactions within the Bitcoin blockchain. Each block references the block that came before it, which hardens the chain against tampering. - **Node.** A node is a computer, server, or similar device that stores the Bitcoin blockchain. Nodes monitor blockchain activity and can reject noncompliant transactions. There are over 18,000 Bitcoin nodes. - **Bitcoin address.** A Bitcoin address is a unique number that references a destination for Bitcoin payments. - **Cryptography.** Cryptography is a mathematical system that the Bitcoin blockchain uses to verify and secure transactions. - **Bitcoin mining.** Mining is the process of confirming transactions and adding blocks to the blockchain. Miners earn bitcoins for their work. - **Bitcoin exchange.** This is an online platform that allows users to buy and sell bitcoin and convert it to other currencies. - **Bitcoin wallet.** A bitcoin wallet stores keys that unlock bitcoin. Wallets don’t hold bitcoin directly because the currency only exists on the blockchain. The keys are your proof of ownership and allow you to access your bitcoin — so you can safely buy, sell, and use it. *Learn more:* [*How to protect your money during economic turmoil, stock market volatility*](https://finance.yahoo.com/personal-finance/investing/article/how-to-protect-your-money-during-economic-turmoil-stock-market-volatility-174937265.html) ## Pros and cons of bitcoin ### Pros As a currency and investment, bitcoin has many benefits, including: - **Faster transactions.** You can usually send bitcoin to someone else within 10 to 60 minutes. - **Cheaper transactions.** The cost of transferring bitcoin to another wallet is, on average, \$0.50 to \$2.50, but it can be more depending on how busy the network is and how much data is included in your transaction. By comparison, wire transfer fees can run as high as \$60. - **Decentralization.** Decentralization puts people in charge of their own finances. With traditional currency, banks and brokers are the gatekeepers of cash and financial assets. If the financial institution fails, it can limit asset access. Bitcoin’s decentralization makes it possible to store access keys directly on an offline hardware device. - **Secure.** Each bitcoin transaction is subject to multiple verifications. It’s very difficult to fake, hack, or hijack the network. *Learn more:* [*What is a financial advisor, and what do they do?*](https://finance.yahoo.com/personal-finance/investing/article/what-is-a-financial-advisor-and-what-does-a-financial-advisor-do-152541716.html) ### Cons However, there are also some disadvantages to bitcoin to consider: - **Volatility.** Bitcoin’s value changes rapidly. This affects its utility as a medium of exchange. You could complete a transaction, and then realize you paid more than you expected because bitcoin’s price suddenly changed. - **High energy consumption.** The Bitcoin network uses a lot of electricity to verify transactions and add to the blockchain. A single transaction can use more electricity than the average U.S. household consumes in about 38 days. - **Lack of history.** Bitcoin is a young currency — it only became available in 2009. The lack of history makes it difficult to predict how bitcoin will behave under extreme economic conditions. - **Competition.** While bitcoin is the most popular cryptocurrency, it faces competition from other cryptocurrencies that have faster, more efficient technology. - **No risk-free income opportunities.** Bitcoin does not pay an interest yield the way cash does. There are ways to earn income on bitcoin, such as lending, but they aren’t without risk. *Learn more:* [*How to invest in gold in 4 steps*](https://finance.yahoo.com/personal-finance/investing/article/how-to-invest-in-gold-181632105.html) ## How to buy bitcoin Joining an exchange is the simplest way to buy bitcoin. An exchange, like [Coinbase](https://finance.yahoo.com/personal-finance/credit-cards/article/coinbase-reveals-new-bitcoin-credit-card-185439289.html), operates much like a stock trading app. Once you verify your identity, open an account, and add funds, you can begin trading. The exchange converts your dollars to bitcoin and vice versa. You can also exchange dollars or bitcoin for other cryptocurrencies or [stablecoins](https://finance.yahoo.com/personal-finance/investing/article/what-is-a-stablecoin-130038254.html). Crypto exchanges are user-friendly, but they are also centralized — which may be a drawback for some investors. But there are some ways to procure bitcoin without an exchange: - **Bitcoin ATMs.** To buy bitcoin at an ATM, users provide a Bitcoin address and pay with cash or by swiping a debit card. - **Peer-to-peer exchanges.** P2P exchanges (ex., Binance) are platforms that allow bitcoin traders to transact directly with one another. - **Exchange integrations with wallets.** There are various hardware and software wallets available for bitcoin owners. Some have integrations that support payments and transfers. - **Play-to-earn games.** There are apps and games that pay users in bitcoin for playing. Examples include Axie Infinity, The Sandbox, and Bitcoin Miner. - **Bitcoin futures exchange-traded fund (ETF).** Those interested in bitcoin as a long-term investment can also opt for indirect ownership through a Bitcoin ETF like the iShares fund ([IBIT](https://finance.yahoo.com/quote/IBIT/)). These funds track the bitcoin price, but they’re centralized and charge an expense ratio. *Learn more:* [*Can you buy crypto with a credit card? See the pros and cons*](https://finance.yahoo.com/personal-finance/credit-cards/article/buy-crypto-with-credit-card-223323104.html)*.* EU\_CONSENT\_BLOCKED ## Ways to use bitcoin Once you have bitcoin on hand, you can use it to: - Send money to any Bitcoin address globally - Buy goods and services from merchants that accept it - Store currency without using a bank - Diversify your investment portfolio - Trade on volatility for short-term gains - Gamble in a cryptocurrency casino **Keep in mind:** Bitcoin’s effectiveness as a diversification asset is somewhat unproven. Though some data suggest that bitcoin’s behavior aligns with the stock market, particularly when stock prices are falling. *Learn more:* [*Want to buy a house with crypto? Here's what to expect*](https://finance.yahoo.com/personal-finance/mortgages/article/can-you-buy-a-house-with-cryptocurrency-163607140.html) ## Origin and history of bitcoin Bitcoin materialized from a [2008 whitepaper](https://bitcoin.org/bitcoin.pdf) written under the pen name Satoshi Nakamoto. In the paper, Nakamoto outlined a system for a transparent, independent, digital, and P2P currency system. Bitcoin mining began in the next year. Bitcoin exchanges, like Coinbase, began to launch in the early 2010s, which made the cryptocurrency more accessible and interesting to a wider audience. Bitcoin has since grown in value and popularity. The bitcoin supply is capped at 21 million coins. Over 19 million have already been mined. This scarcity contributes to its value. ## Bitcoin FAQs ### Where did bitcoin come from? Bitcoin is a technology-based currency that was first introduced in 2009, after an anonymous author — under the pen name Satoshi Nakamoto — conceptualized it in 2008. ### Why does bitcoin have value? People value Bitcoin primarily because it is a decentralized, borderless currency. It supports efficient worldwide payments and has a limited supply of 21 million coins. Additionally, bitcoin is volatile enough to attract the attention of day traders and swing traders who seek to earn profits on quick price changes. *Learn more:* [*Robo-advisor: How to start investing right away*](https://finance.yahoo.com/personal-finance/investing/article/robo-advisor-210202607.html) ### How has the bitcoin price changed between 2015 and 2025? In January 2015, one bitcoin was worth about \$320. By January 2025, one bitcoin was worth more than \$90,000; as of October 2025, one Bitcoin was worth \$120,000. ### Is bitcoin legal? Bitcoin is legal in the U.S., but restricted or banned in other countries. You cannot use bitcoin in China, Afghanistan, Egypt, Kuwait, or other countries. ### Is bitcoin safe? Bitcoin’s backbone is blockchain technology, which is difficult, if not impossible, to hack. However, there are other risks associated with cryptocurrency. Bitcoin’s volatility creates a high risk of financial loss. There are also bitcoin-based scams that attempt to dupe users into providing their personal information or sharing access to their Bitcoin keys. *Jamie Young and* [*Tim Manni*](https://finance.yahoo.com/author/tim-manni/) *edited this article.* MORE\_FROM\_YAHOO\_SCOUT What is bitcoin's origin and history? What is bitcoin and how does it work? How can someone buy and use bitcoin? What are the main advantages and disadvantages of bitcoin? ### READ\_MORE [![Is bitcoin's price volatility an investing opportunity? 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Learn how to invest in crypto in 3 steps.](https://finance.yahoo.com/personal-finance/investing/article/how-to-invest-in-cryptocurrency-for-beginners-155910593.html "How to invest in cryptocurrency: A beginner's guide") [![How to trade crypto: A step-by-step guide](https://s.yimg.com/lo/mysterio/api/9E291C612202CB06C6DDF99D466E5C041F1E007CF6125A41530ECC408250D060/subgraphmysterio/resizefill_w194_h109;quality_80;format_webp/https:%2F%2Fs.yimg.com%2Fos%2Fcreatr-uploaded-images%2F2022-06%2F1701f760-eb3d-11ec-9fcd-fda7580ab069)](https://finance.yahoo.com/personal-finance/investing/article/how-to-trade-crypto-151041383.html "How to trade crypto: A step-by-step guide") [How to trade crypto: A step-by-step guide New to crypto? This step-by-step guide breaks down how to trade, where to buy, and how to protect your digital assets.](https://finance.yahoo.com/personal-finance/investing/article/how-to-trade-crypto-151041383.html "How to trade crypto: A step-by-step guide") [![What is a crypto wallet? A beginner's guide to crypto storage.](https://s.yimg.com/lo/mysterio/api/719DB7AF3BC8907E3FDE8853346134EC578747E5197DBEE8DE38EA25333C8EB8/subgraphmysterio/resizefill_w194_h109;quality_80;format_webp/https:%2F%2Fd29szjachogqwa.cloudfront.net%2Fimages%2F2026-03%2F0ac9d819-f29d-4f79-a135-4bf86a4d5cfa)](https://finance.yahoo.com/personal-finance/investing/article/what-is-a-crypto-wallet-135059733.html "What is a crypto wallet? A beginner's guide to crypto storage.") [What is a crypto wallet? A beginner's guide to crypto storage. 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Readable Markdown

[Bitcoin](https://finance.yahoo.com/quote/BTC-USD/) ([BTC-USD](https://finance.yahoo.com/quote/BTC-USD)) is a virtual currency that’s used as an investment and a form of payment for goods and services. It’s known for its volatility, so it’s important to understand how bitcoin works. Here’s what you need to know so you can make informed, risk-aware decisions about buying and using bitcoin. *Learn more:* [*How to start investing: A 6-step guide*](https://finance.yahoo.com/personal-finance/investing/article/how-to-start-investing-162530701.html) Bitcoin is a type of cryptocurrency, which is a currency that exists only in digital form and operates without government or banking oversight. By comparison, the U.S. dollar, the EU euro, the Canadian dollar, and other national currencies have paper versions and are issued by their respective governments. Bitcoin relies on a public digital ledger that validates and records transactions and verifies bitcoin ownership. This ledger is called the blockchain, and it is globally distributed — that is, decentralized — across a broad, worldwide network of servers. Decentralization is a fundamental aspect of cryptocurrencies. Decentralization facilitates peer-to-peer payments with no banking intermediary, enhanced security, and defends against manipulation attempts. *Learn more:* [*Read all the latest crypto and bitcoin news at Yahoo Finance*](https://finance.yahoo.com/topic/crypto/) Bitcoin is a technology innovation with a specific vocabulary. Here are some terms you should know: - **Block.** A block is a permanent digital record of validated transactions within the Bitcoin blockchain. Each block references the block that came before it, which hardens the chain against tampering. - **Node.** A node is a computer, server, or similar device that stores the Bitcoin blockchain. Nodes monitor blockchain activity and can reject noncompliant transactions. There are over 18,000 Bitcoin nodes. - **Bitcoin address.** A Bitcoin address is a unique number that references a destination for Bitcoin payments. - **Cryptography.** Cryptography is a mathematical system that the Bitcoin blockchain uses to verify and secure transactions. - **Bitcoin mining.** Mining is the process of confirming transactions and adding blocks to the blockchain. Miners earn bitcoins for their work. - **Bitcoin exchange.** This is an online platform that allows users to buy and sell bitcoin and convert it to other currencies. - **Bitcoin wallet.** A bitcoin wallet stores keys that unlock bitcoin. Wallets don’t hold bitcoin directly because the currency only exists on the blockchain. The keys are your proof of ownership and allow you to access your bitcoin — so you can safely buy, sell, and use it. *Learn more:* [*How to protect your money during economic turmoil, stock market volatility*](https://finance.yahoo.com/personal-finance/investing/article/how-to-protect-your-money-during-economic-turmoil-stock-market-volatility-174937265.html) As a currency and investment, bitcoin has many benefits, including: - **Faster transactions.** You can usually send bitcoin to someone else within 10 to 60 minutes. - **Cheaper transactions.** The cost of transferring bitcoin to another wallet is, on average, \$0.50 to \$2.50, but it can be more depending on how busy the network is and how much data is included in your transaction. By comparison, wire transfer fees can run as high as \$60. - **Decentralization.** Decentralization puts people in charge of their own finances. With traditional currency, banks and brokers are the gatekeepers of cash and financial assets. If the financial institution fails, it can limit asset access. Bitcoin’s decentralization makes it possible to store access keys directly on an offline hardware device. - **Secure.** Each bitcoin transaction is subject to multiple verifications. It’s very difficult to fake, hack, or hijack the network. *Learn more:* [*What is a financial advisor, and what do they do?*](https://finance.yahoo.com/personal-finance/investing/article/what-is-a-financial-advisor-and-what-does-a-financial-advisor-do-152541716.html) However, there are also some disadvantages to bitcoin to consider: - **Volatility.** Bitcoin’s value changes rapidly. This affects its utility as a medium of exchange. You could complete a transaction, and then realize you paid more than you expected because bitcoin’s price suddenly changed. - **High energy consumption.** The Bitcoin network uses a lot of electricity to verify transactions and add to the blockchain. A single transaction can use more electricity than the average U.S. household consumes in about 38 days. - **Lack of history.** Bitcoin is a young currency — it only became available in 2009. The lack of history makes it difficult to predict how bitcoin will behave under extreme economic conditions. - **Competition.** While bitcoin is the most popular cryptocurrency, it faces competition from other cryptocurrencies that have faster, more efficient technology. - **No risk-free income opportunities.** Bitcoin does not pay an interest yield the way cash does. There are ways to earn income on bitcoin, such as lending, but they aren’t without risk. *Learn more:* [*How to invest in gold in 4 steps*](https://finance.yahoo.com/personal-finance/investing/article/how-to-invest-in-gold-181632105.html) Joining an exchange is the simplest way to buy bitcoin. An exchange, like [Coinbase](https://finance.yahoo.com/personal-finance/credit-cards/article/coinbase-reveals-new-bitcoin-credit-card-185439289.html), operates much like a stock trading app. Once you verify your identity, open an account, and add funds, you can begin trading. The exchange converts your dollars to bitcoin and vice versa. You can also exchange dollars or bitcoin for other cryptocurrencies or [stablecoins](https://finance.yahoo.com/personal-finance/investing/article/what-is-a-stablecoin-130038254.html). Crypto exchanges are user-friendly, but they are also centralized — which may be a drawback for some investors. But there are some ways to procure bitcoin without an exchange: - **Bitcoin ATMs.** To buy bitcoin at an ATM, users provide a Bitcoin address and pay with cash or by swiping a debit card. - **Peer-to-peer exchanges.** P2P exchanges (ex., Binance) are platforms that allow bitcoin traders to transact directly with one another. - **Exchange integrations with wallets.** There are various hardware and software wallets available for bitcoin owners. Some have integrations that support payments and transfers. - **Play-to-earn games.** There are apps and games that pay users in bitcoin for playing. Examples include Axie Infinity, The Sandbox, and Bitcoin Miner. - **Bitcoin futures exchange-traded fund (ETF).** Those interested in bitcoin as a long-term investment can also opt for indirect ownership through a Bitcoin ETF like the iShares fund ([IBIT](https://finance.yahoo.com/quote/IBIT/)). These funds track the bitcoin price, but they’re centralized and charge an expense ratio. *Learn more:* [*Can you buy crypto with a credit card? See the pros and cons*](https://finance.yahoo.com/personal-finance/credit-cards/article/buy-crypto-with-credit-card-223323104.html)*.* Once you have bitcoin on hand, you can use it to: - Send money to any Bitcoin address globally - Buy goods and services from merchants that accept it - Store currency without using a bank - Diversify your investment portfolio - Trade on volatility for short-term gains - Gamble in a cryptocurrency casino **Keep in mind:** Bitcoin’s effectiveness as a diversification asset is somewhat unproven. Though some data suggest that bitcoin’s behavior aligns with the stock market, particularly when stock prices are falling. *Learn more:* [*Want to buy a house with crypto? Here's what to expect*](https://finance.yahoo.com/personal-finance/mortgages/article/can-you-buy-a-house-with-cryptocurrency-163607140.html) ## Origin and history of bitcoin Bitcoin materialized from a [2008 whitepaper](https://bitcoin.org/bitcoin.pdf) written under the pen name Satoshi Nakamoto. In the paper, Nakamoto outlined a system for a transparent, independent, digital, and P2P currency system. Bitcoin mining began in the next year. Bitcoin exchanges, like Coinbase, began to launch in the early 2010s, which made the cryptocurrency more accessible and interesting to a wider audience. Bitcoin has since grown in value and popularity. The bitcoin supply is capped at 21 million coins. Over 19 million have already been mined. This scarcity contributes to its value. Bitcoin is a technology-based currency that was first introduced in 2009, after an anonymous author — under the pen name Satoshi Nakamoto — conceptualized it in 2008. People value Bitcoin primarily because it is a decentralized, borderless currency. It supports efficient worldwide payments and has a limited supply of 21 million coins. Additionally, bitcoin is volatile enough to attract the attention of day traders and swing traders who seek to earn profits on quick price changes. *Learn more:* [*Robo-advisor: How to start investing right away*](https://finance.yahoo.com/personal-finance/investing/article/robo-advisor-210202607.html) ### How has the bitcoin price changed between 2015 and 2025? In January 2015, one bitcoin was worth about \$320. By January 2025, one bitcoin was worth more than \$90,000; as of October 2025, one Bitcoin was worth \$120,000. Bitcoin is legal in the U.S., but restricted or banned in other countries. You cannot use bitcoin in China, Afghanistan, Egypt, Kuwait, or other countries. Bitcoin’s backbone is blockchain technology, which is difficult, if not impossible, to hack. However, there are other risks associated with cryptocurrency. Bitcoin’s volatility creates a high risk of financial loss. There are also bitcoin-based scams that attempt to dupe users into providing their personal information or sharing access to their Bitcoin keys. *Jamie Young and* [*Tim Manni*](https://finance.yahoo.com/author/tim-manni/) *edited this article.*

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