Bitcoin is used as both a digital currency and a store of value. Created in 2009 by the mysterious Satoshi Nakamoto, it was designed to enable peer-to-peer transactions without relying on banks or intermediaries. One of its main uses is as a medium of exchange, allowing people to send money across borders quickly and securely with lower fees than traditional payment systems. Many online merchants, freelancers, and even some retail businesses now accept Bitcoin as payment for goods and services.

Another major use of Bitcoin is as an investment asset. Many investors view it as “digital gold” because of its limited supply—only 21 million coins will ever exist. This scarcity has made it appealing as a hedge against inflation and currency devaluation. Traders also use Bitcoin to profit from price fluctuations in cryptocurrency markets.

Bitcoin is also used in remittances, helping people transfer money internationally with fewer restrictions and delays. In addition, it serves as a gateway into the broader cryptocurrency ecosystem, often being the first asset new users buy or trade.

While its volatility limits its everyday use as a stable currency, Bitcoin’s role in financial innovation, borderless payments, and decentralised wealth storage continues to grow, making it one of the most influential financial technologies of the modern era.