How To Explain Bitcoin to Your Grandparents

How To Explain Bitcoin to Your Grandparents

Many of you in social media have asked me “What is Bitcoin” or “Please Explain bitcoin”
At face value bitcoin can be a little daunting and confusing.

Courtesy of Cointelegraph, I have a nice image you can use to explain Bitcoin to even your grandparents.

What is Bitcoin

Does that Explain Bitcoin for you?

A more technical version is:

Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people and businesses running computers all around the world. They use software that solves mathematical problems. We call the software, mining software.

It’s the first example of a growing category of money known as cryptocurrency.

There is a great FAQ over at Bitcoin.org
It may be a little technical in some places but it is chock filled with information
for someone trying to learn about bitcoin.

I hope so. If not, ping me and I’ll further break it down for you.

Faith Sloan
1.800.670.3202

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