Bitcoin is a peer-to-peer digital currency. This means there is no central entity that processes or approves your transactions—in this way it is similar to cash. As a consequence, nobody can censor your transaction, and no one can freeze—or worse, close—your “account”; you have full control over your funds. You don't need a bank; you are your own bank.
Bitcoin - A Short Primer
Bitcoin - A Short Primer
Bitcoin - A Short Primer
Bitcoin is a peer-to-peer digital currency. This means there is no central entity that processes or approves your transactions—in this way it is similar to cash. As a consequence, nobody can censor your transaction, and no one can freeze—or worse, close—your “account”; you have full control over your funds. You don't need a bank; you are your own bank.