Lesson 1: What is Bitcoin ?

Bitcoin is the first and most widely recognized cryptocurrency, introduced in 2008 as a groundbreaking digital form of money. At Movo, we describe Bitcoin as a decentralized currency designed specifically for use over the internet.

Bitcoin was first introduced through a white paper written by an unknown individual or group using the pseudonym Satoshi Nakamoto. This foundational document outlined the principles and workings of Bitcoin, setting the stage for a new form of digital finance. You can read the original Bitcoin white paper here: Bitcoin White Paper.

Unlike traditional currencies issued by governments or banks, Bitcoin operates on a peer-to-peer network, meaning transactions occur directly between users without intermediaries. Bitcoin transactions are securely recorded and verified using blockchain technology, ensuring transparency and security.

One of Bitcoin’s most important features is its fixed supply: only 21 million bitcoins will ever exist. This limited supply helps protect its value and makes it different from traditional currencies, which can be printed in unlimited quantities.

Because Bitcoin isn’t controlled by any single entity, it offers users greater freedom and control over their own money. People worldwide can send and receive Bitcoin quickly, securely, and with relatively low transaction fees, at any time.

At Movo, we support Bitcoin transactions, making it simple for you to manage and securely control your digital assets.