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An Introduction to Bitcoin Fundamentals

February 11, 2022

2m

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Bitcoin is a cryptocurrency that defines not only the entire cryptocurrency market but also the blockchain industry as well. Anyone with knowledge of either topic knows about Bitcoin, and anyone who is introduced to crypto usually tends to hear of Bitcoin first.

Bitcoin is not only the first cryptocurrency, it is also the first blockchain network. Both facts together make Bitcoin a first-mover and the original creator of the decentralized space that we participate in. With 12 years behind its back, Satoshi’s invention successfully established itself as a leading alternative in the retail financial world. The recent years have pushed it into the corporate world as well.

In our previous series, the Shrimpy Academy explained how Bitcoin works on more than one occasion. Considering the rich history and vast size of Bitcoin, we believe that this cryptocurrency deserves a special series of its own.

Henceforth, the series you have chosen to read today covers all of the important lessons needed to master the fundamentals of Bitcoin. We will explain what Bitcoin is, what makes it special, how to mine it or buy it, and even how to use Bitcoin! Moreover, the last lessons also deal with notable forks, features, and events that form an essential part of the project’s history.

This series equips you with the information required to learn how to:

  • Choose a Bitcoin wallet
  • Set up a Bitcoin Wallet
  • Send and receive BTC
  • Store Bitcoin safely
  • Convert Bitcoin back into fiat

However, this area will be explained in a separate series named “Getting Started with Bitcoin.”

Without further ado, let us move on with the first lesson of Bitcoin Fundamentals and start by learning what Bitcoin is.

About The Author:  
Marko is a crypto enthusiast who has been involved in the blockchain industry since 2018. When not charting, tweeting on CT, or researching Solana NFTs, he likes to read about psychology, InfoSec, and geopolitics.

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