# What is Bitcoin?

By [Dhruv](https://paragraph.com/@dhruv-2) · 2023-03-14

---

Bitcoin (BTC) is a cryptocurrency, a virtual currency designed to act as money and a form of payment outside the control of any one person, group, or entity, thus removing the need for third-party involvement in financial transactions. It is rewarded to blockchain miners for the work done to verify transactions and can be purchased on several exchanges.

---

*Originally published on [Dhruv](https://paragraph.com/@dhruv-2/what-is-bitcoin)*