Bitcoin is basically a digital encrypted form of money (cryptocurrency), that you can hold in your own digital wallet and transact with it as you wish.
Bitcoin use as money :
1- It can be used a Medium of exchange
A person can transfer bitcoin across the internet directly to someone else (peer-to-peer digital transfer).
Much like cash transactions but over the internet in digital form.
Some people use bitcoin as a way to transfer money without the need of intermediary services like banks, paypal or western union etc ..
In countries experiencing baking crisis , some have resorted to using bitcoin as a form of money to bypass banks that shutdown access to accounts or limit withdrawals
2- It can be used a store of value
Bitcoin is predicted to increase in value over time.
Most people buy & hold bitcoin as a speculative store of value investment. These people believe Bitcoins price will rise significantly in the long term.
Hello, My name is Uzma