Bitcoin is a sort of digital foreign money (cryptocurrency). Much like conventional currencies, just like the greenback, pound or euro, there are numerous sorts of digital currencies. Different standard ones embody Ethereum and Dogecoin. In contrast to conventional currencies, although, Bitcoin isn’t backed or managed by centralised monetary establishments. As an alternative, it’s decentralised. This makes it standard for individuals who suppose decentralisation can deliver monetary freedom, however it additionally makes it extraordinarily risky – rising and falling in worth on the whim of Bitcoin consumers and sellers.