What is bitcoin?
Bitcoin is a digital currency. Using bitcoin has 3 key advantages versus other currencies and payment networks:
- Instant worldwide transactions: send money like an email
- (Near) zero cost: only the sender pays a very small fee, the receiver pays no fee at all; plus merchants get rid of fraud costs because bitcoin transactions are final (there are no charge-backs possible)
- Independence of third parties: to use bitcoin you don't need a bank account, most wallets are free and open source and you can also build your own
It's pretty easy to buy and sell bitcoins in most countries, just like any other currency. The other cool thing is that you can buy almost anything with your bitcoins already and the number bitcoin accepting merchants is growing daily.
Understanding bitcoin at it's technological level can be quite demanding. But it's not really important! Just like most people don't care about HTTP - the underlying protocol of browsing the web - you can easily use bitcoin without understanding its technical details.
You will best grasp the magic of bitcoin when you use it. Get started now and choose your wallet!