![image.png](https://files.peakd.com/file/peakd-hive/mrnightmare89/23wX3L8FNvVrnoyoPSscuQ7hJcfVcG2F9Za7waWQK5u6fUiKmCKPib754tHtDHriZoGUU.png)
[unsplash](https://images.unsplash.com/photo-1591994843349-f415893b3a6b?ixid=MXwxMjA3fDB8MHxzZWFyY2h8MXx8Yml0Y29pbnxlbnwwfHwwfA%3D%3D&ixlib=rb-1.2.1&auto=format&fit=crop&w=1100&q=60)


Okay, I know this is not new or you can search it right away on google to learn about it. But maybe let's have some refresh by a simple explanation because even I was having hard times understanding it. What I will be doing is sharing the little information I have while watching videos and reading articles about Bitcoin.

It's obvious that Bitcoin is a type of currency. Digital currency can be used in buying things we want to buy online. It's a type of money as well but it's not cash like a typical currency in your country. But considering its value you can compare it to gold. It's a currency but compares to gold because of the high value. 

Now, you have an idea of what is Bitcoin. My knowledge of Bitcoin is rather limited. I'm just hoping I can give you new ideas about it. Just like how Bitcoin has its own value? I'm not lying or trying to pretend like an analyst here. But what I understand about it is the trust of the people that this coin has potential in the future. At first, of course, there was no value in it. But when people started trusting it and started buying in it. The time has come that a certain amount has been given to the value of Bitcoin. If you still don't get it just think about how an engine made the machine working. Let's skip the hard part of knowing it and just focus on the present that its own value has been provided.

![image.png](https://files.peakd.com/file/peakd-hive/mrnightmare89/23uFMbqQBbgsw4p6DSPLWAYPwgsrWh9oJwozyY3UkEpctmVNT8aT1pnEoVaAwRS9YDYJY.png)
[unsplash](https://images.unsplash.com/photo-1613919517761-0d9e719d3244?ixid=MXwxMjA3fDB8MHxzZWFyY2h8MXx8Y3J5cHRvY3VycmVuY3l8ZW58MHx8MHw%3D&ixlib=rb-1.2.1&auto=format&fit=crop&w=1100&q=60)
The question is, how the value is climbing up the ladder? When people on the internet learned about this currency. They started buying and the demands became higher. Just like buying food or things in the market. When the demand is high it just means that the price will get higher as well. Maybe this simple logic helps you to understand right away. 

Let's not forget the other coins that are showing up these days. It literally depends on Bitcoin of course. If you're already in crypto or you are already knowledgeable about this. You noticed when the Bitcoin value went down like a rocket. Most of the coins were doing the same. Of course, their value reflects the Bitcoin value. Although there might be an exemption that may unreachable to my understanding. Just remember the demands that it grows higher value.

If you're not into blockchain for now. You should try to get information to be one of the people who is getting rich. Don't wait that it will be hard to enter because every human being in the world will know about crypto. The crypto market or blockchain is still small. Join and don't wait for it to be wider.


Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@mrnightmare89/what-is-bitcoin)