Risk glossary



Bitcoin is a cryptocurrency exchanged using blockchain technology on a public online ledger that verifies and records the transactions. The integrity of the data underpinning the bitcoin system is maintained by ‘miners’ who prove that the bitcoins have not already been spent elsewhere and incorporate the transactions into the blockchain, in return for fees paid in bitcoin. The blockchain technology that underpins bitcoin is open source.

Bitcoin is the longest established cryptocurrency, first issued in 2009. Futures based on bitcoin were traded for the first time in 2017.

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