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Bitcoin Trading for Beginners (A Guide in Plain English)Cryptocurrency is a digital payment system that doesn't rely on banks to verify transactions. It's a peer-to-peer system that can enable anyone anywhere to send. Bitcoin (BTC) is a cryptocurrency, a virtual currency designed to act as money and a form of payment outside the control of any one person, group. Bitcoin is a decentralized digital currency that is exchanged between two parties without involving intermediaries like banks or other.