One of Bitcoin’s greatest assets is that it is decentralized. Instead of relying on governments and financial institutions, the cryptocurrency is operated by a network of nodes (operators) around the world that split and verify the work evenly. With no single authority in charge, users have more control over their assets and do not need to worry about Global Recessions and the Fed skyrocketing inflation.
Bitcoin was designed to be a peer-to-peer electronic cash system, meaning that one individual could send money to another without incurring costly road bumps along the way. When sending fiat currencies across borders the funds go through various posts, changing currencies and incurring forex charges. Bitcoin can be sent from one side of the world to another for a fraction of the price and time, and is a direct transfer from sender to receiver.
The technology behind Bitcoin is called blockchain, and has taken the world by storm. This trustless technology functions with a community of nodes sharing equal responsibility with no one authority dictating. The technology is being integrated in industries around the world, from supply chain management to renewable energy to farming.