What are Bitcoins?
Bitcoins are a new type of money – a ‘digital currency’ that is being increasingly used all over the world. Unlike traditional money that is printed or minted in industrial facilities, bitcoins are created by lots of people around the world running computers, using open-source software that solves complex mathematical problems. Bitcoins are the first example of a category of money called cryptocurrency where the production, transactions and issuing of the money is carried out collectively by the network of people that use it. Bitcoins are created by the people, for the people.