Bitcoin (BTC) is the first and best-known cryptocurrency, launched in 2009 under the pseudonym Satoshi Nakamoto. It is decentralized digital money: it works without banks or governments, and every transfer is recorded in a shared public ledger — the blockchain. Bitcoin’s supply is capped at 21 million coins, which is why it’s often called “digital gold” — a store of value protected from uncontrolled issuance.
What is Bitcoin in simple terms
Bitcoin is both a network and a currency. Unlike rubles or dollars, Bitcoin has no single center controlling it: the network is maintained by thousands of computers worldwide. No one can “print” extra coins or reverse your transaction.
Put simply: BTC is money that belongs only to you and is stored not in a bank but in your crypto wallet. Only you can manage it — using your secret key.
How Bitcoin works: blockchain and mining
All Bitcoin transfers are gathered into “blocks” and recorded in a chain of blocks — the blockchain. This ledger is public: anyone can verify a transaction, but no one can alter or forge a record.
New blocks are created by miners — network participants whose computers solve computational tasks (the Proof-of-Work mechanism). For this they receive a reward in new bitcoins plus fees. A new block is added roughly every 10 minutes, and a transaction is then considered confirmed. The more confirmations, the more secure the transfer.
Why Bitcoin has value
- Capped supply. Only 21 million BTC will ever be issued — a hedge against inflation, on the “digital gold” principle.
- Decentralization. There is no single authority that could shut down the network or devalue the coin by printing more.
- Liquidity. BTC is accepted by virtually every exchange and exchanger in the world — it’s easy to buy and sell.
- Transfers without intermediaries. BTC can be sent anywhere in the world, without banks or permissions.
About networks and fees
Bitcoin operates on its own network — you must send BTC over the Bitcoin network, not via TRON or Ethereum. The fee depends on network congestion and is measured in satoshis per byte: the higher the demand, the more expensive the transfer. There is also “wrapped” bitcoin — for example, BTCB on BNB Chain (BEP20), which mirrors the price of BTC, but this is a token on a different network, not the original bitcoin. Always confirm the exact form and network of a transfer.
Risks worth knowing
- Volatility. The BTC price can swing sharply in a short time — it is not a stablecoin.
- Responsibility for keys. Lose your seed phrase and you lose access to your coins forever. There is no “support” to restore it.
- “Dirty” coins. BTC may have passed through fraudulent addresses, so an AML check is performed before an exchange.
- Irreversibility. A sent transaction cannot be canceled — always verify the recipient’s address.
How to store Bitcoin safely
BTC is stored in crypto wallets: “hot” ones (apps, extensions) for everyday use and “cold” ones (hardware devices) for large amounts and long-term storage. The main rule: never share your seed phrase and never enter it on suspicious sites. Read about common scams in our cryptocurrency fraud guide.
Where to buy or sell Bitcoin for cash
Bitcoin can be bought or sold on exchanges, via P2P, at online exchangers, and at offline exchangers with cash payout. The last option is convenient when you need physical cash in hand or want to deposit cash and receive BTC without relying on bank cards.
HASchange exchanges Bitcoin for cash rubles, dollars, and euros at offices in Moscow, Saint Petersburg, Yekaterinburg, and other cities. The final rate is set at the moment of the deal at the current market rate, and an AML check is performed beforehand. Minimum amount — from 200,000 RUB or equivalent.
Before an exchange, the cryptocurrency is screened — more on the AML policy. For another popular asset, see the guide “USDT (Tether): what it is and how it works”.
Frequently asked questions
How many bitcoins will there ever be?
The supply is capped at 21 million BTC. This is built into the protocol and cannot be changed unilaterally.
How many confirmations does a BTC transfer need?
A few confirmations are usually enough; a new block is added roughly every 10 minutes. The larger the amount, the more confirmations are typically awaited for security.
Can I send BTC over the TRON or Ethereum network?
No, the original bitcoin only travels over the Bitcoin network. Other networks have “wrapped” versions (such as BTCB on BNB Chain) — these are separate tokens.
Is Bitcoin anonymous?
Not quite — it’s pseudonymous: all transactions are public on the blockchain, though not directly tied to a name. An AML check is performed before an exchange.
Can I exchange Bitcoin for cash rubles?
Yes. At HASchange offices you can sell BTC for cash rubles, dollars, or euros, or buy BTC for cash.
What happens if I lose my seed phrase?
Access to the coins is lost irreversibly — there is no backup “support” in a decentralized network. Store your seed phrase offline and in a safe place.
This material is for informational purposes only and is not investment advice.
Материал носит информационный характер и не является инвестиционной рекомендацией.
