Bitcoin is a digital currency (also called crypto-currency) that is not backed by any country’s central bank or government.
The Bitcoin network is designed to mathematically generate no more than 21 million Bitcoins and the network is set up to regulate itself to deal with inflation.
A bitcoin exchange is a digital marketplace where traders can buy and sell bitcoins using different fiat currencies or altcoins.
Bitcoin currency exchanges work in a manner similar to banks. Bitcoin exchanges make money basically from the fees they charge.
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