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What is Bitcoin?
What is Bitcoin?

Bitcoin is a decentralized digital currency that can be used for sending and receiving payments to and from anywhere in the world.

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Written by OpenNode Support
Updated over a week ago

Bitcoin is a form of digital cash that allows the transfers of funds peer-to-peer over the internet without using a financial institution. It is an excellent way to purchase goods or services online because it is faster, safer, and cheaper than any other payment processor (Visa, Mastercard, PayPal, etc.) available today.

A Bitcoin can be divided down to eight decimal places. It is possible to send someone 0.00000001 bitcoin. This smallest fraction of a bitcoin β€” the penny of the Bitcoin world β€” is called as a satoshi, paying homage to the anonymous & pseudonymous creator of Bitcoin, Satoshi Nakamoto.

Bitcoin is not a company, it is a protocol. It doesn't have a CEO yet it's still able to operate 24/7, 365 days a year with virtually zero down time.

OpenNode is a payments company that helps businesses accept bitcoin and access an increasingly global economy. We are bringing efficiency to the payments industry through the power of bitcoin.

Read more about how to get set-up with your own Bitcoin wallet and start experiencing the advantages of the fastest growing payments network today.

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