What is Bitcoin?

For many people, Bitcoin represents the future of paying for something, as a new digital global 'cryptocurrency'. Rather than using a £1 coin or $1 bill, something could be 1 Bitcoin (1 BTC).

But Bitcoin is much more than a currency, and this is why people often get confused. It's also the entire network (known as a Blockchain) that securely oversees the entire process of someone sending money to someone else.

Say you spend £20 at a restaurant on a Visa debit card. That transaction must be processed through a card machine, Visa, your bank, and the merchant bank. At each step, communication and verification take place.

Bitcoin's promise is to remove all of this friction involved in the verification, whilst also making payments much more secure. You could use your mobile phone to send £20 worth of Bitcoin to the restaurant directly. Buying Bitcoin Securely 

This video really good for everyone that you're all should know because this will give amazing ideas to you how buying Bitcoin process.

Now to make it completely real for you, here's a guy buying ice cream with Bitcoin.