BTC
The ticker symbol for bitcoin, the native currency of the Bitcoin network.
BTC is the ticker symbol for bitcoin, the digital currency used on the Bitcoin network. Bitcoin is a decentralized payment system that lets people send value directly to one another without relying on a bank or central payment company. Transactions are recorded on a public blockchain, and new blocks are added through a process called mining, which helps secure the network and confirm payments.
BTC matters because it is the unit people quote, send, receive, save, or trade when using Bitcoin. For example, an exchange might show the price of 1 BTC in dollars, while a wallet might display a smaller amount such as 0.005 BTC. BTC can be divided into much smaller units, with the smallest called a satoshi. In everyday use, BTC is similar to a currency code like USD or EUR, but it refers to a cryptocurrency that operates on an open, global network rather than a national monetary system.
Other terms in Bitcoin
ASIC
A specialized computer chip built to do one task very efficiently, commonly used in Bitcoin mining to perform hashing calculations.
Bitcoin
A decentralized digital currency and payment network that lets people send value without relying on a bank or central authority.
Block Height
A block height is the number that shows a block’s position in a blockchain, counted from the first block.
Block Reward
New cryptocurrency paid to a miner or validator for successfully adding a block to a blockchain.