What is Bitcoin?


Bitcoin Blockchain Summary

bitcoin logo

Launch Year



Public Blockchain


Proof-of-Work (PoW)

Bitcoin stands as the revolutionary force that started the entire cryptocurrency movement. Its true innovation lies in its decentralization, achieved through a trustless network secured by its Proof-of-Work consensus mechanism. Bitcoin introduced the concept of a digital currency that operates independently of banks or governments, offering censorship resistance, transparency, and limited supply. As the first and most widely recognized cryptocurrency, Bitcoin boasts a vast ecosystem and serves as a benchmark for the industry.


Bitcoin mining mechanism and details

Bitcoin’s Proof-of-Work (PoW) mechanism is at the heart of its security and decentralization. Miners compete to solve complex mathematical puzzles to add blocks to the blockchain and earn BTC rewards. This process requires significant computational power and energy consumption, ensuring that manipulating the Bitcoin network is incredibly difficult and costly. The mining difficulty adjusts automatically to maintain a predictable block production rate.

Details about Bitcoin staking and earning

  • No Traditional Staking

    Bitcoin does not use a Proof-of-Stake consensus mechanism, so there’s no native staking in the traditional sense.

  • Alternative Earning Opportunities

    Alternative ways to potentially earn passive income with Bitcoin, such as lending platforms or liquidity pools on decentralized exchanges.


Blockchain's native cryptocurrency: BTC

Coin Utility

Used as a digital store of value, medium of exchange, and increasingly as an investment asset.


There will only ever be 21 million BTC in existence, creating built-in scarcity.

Approximately every four years, the block reward for miners is cut in half, controlling inflation and influencing BTC’s long-term value.


Bitcoin is the most widely accepted cryptocurrency, with growing merchant and institutional adoption.


Bitcoin Smart Contracts

Bitcoin’s primary focus is as a secure digital currency. While it has limited smart contract functionality compared to newer blockchains, layers built on top of Bitcoin (such as the Lightning Network) and sidechains enable more complex use cases.

Details about Bitcoin smart contracts

  • Limited Functionality

    Offers basic smart contract capabilities compared to more expressive platforms.

  • Layers & Sidechains

    Utilize Layer-2 solutions (like Rootstock, Stacks), or sidechains for advanced smart contract functionality built on top of Bitcoin.


Bitcoin Wallet Options

Hodlezz app showcase

Leger & Trezor

Hardware wallets offer the highest level of security for storing your BTC.

Exodus, Electrum

Software wallets provide a balance of security and convenience for desktop or mobile devices.

Exchange Wallets

Integrated with cryptocurrency exchanges, but be aware of the custodial risk (you don't control your private keys).


How to Buy Bitcoin (BTC): Exploring Your Exchange Options

As the pioneer of cryptocurrency, Bitcoin (BTC) can be purchased on numerous established exchanges. Let’s explore some popular options to help you find the best place to buy Bitcoin for your needs.

Best CEXs to Buy BTC

  • Binance

    Global exchange leader with high liquidity and a wide range of BTC trading pairs.

  • Coinbase

    Popular and user-friendly exchange focused on simplicity, features BTC trading prominently.

  • Kraken

    Well-respected exchange with a strong focus on security, offers a good selection of cryptocurrencies, including BTC.

  • Gemini

    Trusted exchange regulated in the US, known for security and compliance.

  • Cash App

    User-friendly platform for beginners, with simple ways to buy and sell small amounts of BTC.

Best DEXs to Buy BTC

  • Bisq

    A truly decentralized, peer-to-peer exchange prioritizing privacy and direct BTC trading with various payment methods.

  • Hodl Hodl

    P2P exchange that supports a variety of payment methods for acquiring BTC.

  • Robosats

    P2P platform focused specifically on Bitcoin, offers a streamlined experience.

  • THORchain

    While not solely focused on BTC, this cross-chain DEX offers swaps for native Bitcoin.

Important Note: Always research and consider factors such as fees, security, supported fiat currencies, and regional availability before choosing an exchange. It’s recommended to compare multiple options to find the best way to buy Bitcoin that aligns with your requirements.


How to track Bitcoin assets?

Monitor and capitalize all your Bitcoin assets from multiple sources with auto-synced data about coin prices, NFT floor prices, advanced analytics and custom asset based opportunities.

Hodlezz app portfolio data and features

7 easy steps to track and capitalize all your Bitcoin assets

Open your crypto wallet app or web extension

BTC Wallet instructions for Hodlezz app
BTC Wallet instructions for Hodlezz app

Select your Bitcoin public wallet address and copy it

Open the Hodlezz mobile app and create a portfolio

Hodlezz app portfolio instructions
Hodlezz app coin display

Select the settings icon in your portfolio

Select [Add connector] from the menu

Hodlezz app Portfolio menu
Bitcoin integration in Hodlezz app

Select [Bitcoin] for any Bitcoin compatible address

Choose a name for your connector and insert your public wallet address

Hodlezz app portfolio connector setup

Start tracking all your crypto assets now

Experience seamless management of your digital assets with Hodlezz: the premier app for real-time tracking and analytics of your cryptocurrencies and NFTs.