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Introduction to Bitcoin

Co-written by Raphael Bustamante, James de Jesus, and Gabriel Paningbatan
Key Takeaways

With everything suddenly becoming digital, like communication, watching, learning, reading, shopping, gaming, etc., it's no surprise that finance is already catching up with the trend. And no, I'm not only talking about GCash, PayMaya, or even digital banks like Unionbank or Tonik.

I'm talking about cryptocurrencies.

I bet you see this word all over the Internet — people saying things like “to the moon” or mentioning that new trendy coin named after a dog in someone’s comments section. 

So, what is it? What are they talking about? No need to panic my friend, I was also once as puzzled as you.

Before anything else, I guess I should introduce myself. My name is BitBit. The Bitskwela team and I will be helping you out in understanding the world of cryptocurrencies! 

Our primary focus will be on Bitcoin for now — the cryptocurrency that started it all.

Bitcoin is exciting because it has the potential to revolutionize the way the world works. Paying your monthly Meralco bills, sending money abroad, or even just buying a cup of coffee from your local 7-11 will never be the same. 

Unlike fiat money, Bitcoin cannot be hacked, counterfeited, broken, or swayed to the interests of a government or organization. Bitcoin can also help promote financial inclusion, fight against inflation, and incentivize renewable energy. The possibilities are endless!

If you want to learn more about what Bitcoin is and how it works, you’ve come to the right place. Stick around and I promise, I won’t get too technical.

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