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NYDIG Bitcoin 101

April 27, 2021


This document is intended for investors who are new to Bitcoin (uppercase “B” Bitcoin is the technology or network, and lowercase “b” bitcoin is the asset native to the network). Interest in Bitcoin continues to grow, and with that, a desire to understand more. The concept of Bitcoin, its technology, and terminology can be overwhelming at first.

This document is intended to describe Bitcoin’s history, design, and development in terms that can be understood by all. This document is organized into topics with important questions and answers on each topic. Some questions have more in-depth answers, designated as “bitcoin deep insight sections,” for readers who wish to know more.

Bitcoin is an open source monetary system – that is, a system for storing and transmitting an asset of value whose underlying code is fully open to the public. This system allows bitcoin (lowercase “b”), the native digital asset of the Bitcoin network, to be sent securely between users over the internet without the need of an intermediary.

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