What is bitcoin, in plain words
What bitcoin (BTC) is, how it works, why its supply is limited, what drives its tenge price and how to buy bitcoin legally in Kazakhstan.
Bitcoin (BTC) launched in 2009. Its creator, known by the pseudonym Satoshi Nakamoto, described an electronic cash system that works without banks or a central issuer.
How bitcoin works
- Blockchain. All transfers are recorded in a shared public ledger kept by thousands of computers.
- Mining. Miners confirm transfers and receive new coins and fees in return.
- Keys. Whoever holds the private key to an address owns the bitcoin. Losing the key means losing the coins.
Why supply is limited
The network rules cap supply at 21 million BTC. Roughly every four years a halving cuts the miner reward in half, so new coins appear more slowly. That is why bitcoin is often called "digital gold".
What drives the tenge price
The BTC price in tenge has two parts:
- the global bitcoin price in dollars, set by supply and demand;
- the tenge to dollar exchange rate.
That is why exchanger quotes change constantly. See the live rate on the BTC to tenge page.
Risks
- Volatility. The price can move tens of percent in a month.
- Irreversibility. A mistaken transfer cannot be undone.
- Fraud. "Bitcoin doubling" schemes and fake exchanges.
The lesson how to buy bitcoin explains the steps, and what is USDT explains how it differs from a stablecoin.
FAQ
Who controls bitcoin?
No single party. The network is run by thousands of independent nodes and miners worldwide, and the rules are written in open-source code.
How many bitcoins will there ever be?
No more than 21 million. New coins are issued to miners for each block, and roughly every four years the reward halves.
Can I buy part of a bitcoin?
Yes. One bitcoin divides into 100 million satoshis, so you can buy any amount above the exchanger's minimum trade.
Updated October 6, 2026