Bitcoin is a type of digital money that people can use to buy things online. It’s like pretend money in a video game, but it’s real money that you can use in the real world. Just like how you can save up your allowance to buy something you want, people can save up their Bitcoin to buy things they want.
Instead of having a bank hold your money, with Bitcoin, your money is stored in something called a “wallet” that you can keep on your computer or your phone. It’s a little bit like keeping your allowance in a piggy bank. And just like how you can show your allowance to your parents or friends to prove that you have it, people can show their Bitcoin to other people to prove that they have it.
But the most interesting part is that no one person or company is in charge of Bitcoin. It’s like a big computer game that everyone can play and that no one can cheat at. Everyone can see all the moves that are made in the game and that’s how we know that the game is fair and no one is cheating.
It’s a new technology and it’s still growing, so people are still figuring out how to use it best. But many people think it’s really cool and could be a big part of how we use money in the future. Like how you learn how to save your allowance and use it to buy things, people are learning how to use Bitcoin too.