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The Greatest Bitcoin Explanation of ALL TIME (in Under 10 Minutes)It's a digital currency that works like real-world dollars and other currencies (called fiat) but is not regulated by a third party like banks. Bitcoin (BTC) is a form of digital money. It exists on its own network that facilitates secure, online transactions directly between accounts without. Bitcoin is a decentralized digital asset. It is a new type of asset that joins the ranks of traditional assets such as cash, gold, and real estate.