We chat to: Mpho Dagada – Cryptocurrency Expert
The simplest explanation of bitcoin is that it is electronic money.
Bitcoin is a form of digital currency, it is decentralised, and created and held
electronically. No one controls it. Bitcoins aren’t printed, like Rand, dollars or
euros – they’re produced by lots of people running computers all around the
world, using software that solves mathematical problems. These people and
their computers are called ‘bitcoin miners’. It’s the first example of a growing
category of money known as cryptocurrency.