Glossary Term

BTC

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BTC is an abbreviation for Bitcoin, a digital cryptocurrency that traces its roots back to 2009. It allows value to be transferred anywhere, almost instantly, for minor transaction fees in a completely decentralised way. No banks, governments or any other authorities are involved as the currency only exists online with records of transactions being kept on a global public ledger backed by an enormous amount of computing power. Bitcoins can be exchanged for fiat currencies but can also be used for acquiring products and services.

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