Bitcoin 101: A Beginner’s Guide to Understanding Digital Gold with Beacon Bitcoin Guidance
Welcome to Beacon Bitcoin Guidance, where we help beginners learn and secure Bitcoin with confidence! If you’re new to Bitcoin and curious about what it’s all about, you’re in the right place. Bitcoin is often called “digital gold” because of its scarcity and potential as a long-term investment. Unlike traditional money, it’s decentralized, secure, and built on a technology called blockchain. In this post, we’ll break down what Bitcoin is, how it works, and why it might be worth considering—without the jargon. Join us for our free info session July 17th, 630pm at the West Lincoln Community Centre to learn more!
Craig Brown - Founder, Beacon Bitcoin Guidance
5/8/20241 min read
What is Bitcoin?
Bitcoin is digital money you can send or receive anywhere in the world without banks or intermediaries. Created in 2009 by an anonymous person (or group) named Satoshi Nakamoto, it’s powered by blockchain—a secure, transparent ledger that records all transactions. Think of it as a global notebook that everyone can see but no one can tamper with. Bitcoin’s supply is capped at 21 million coins, making it scarce like gold, which is why many see it as a hedge against inflation. You can buy Bitcoin on exchanges, store it in a digital wallet, and use it for payments or hold it as an investment. At Beacon Bitcoin Guidance, we’ll show beginners how to get started safely, and confidently.
