DEFINITION of 'Britcoin'

A now-defunct U.K.-based Bitcoin exchange, Britcoin was the first Bitcoin exchange in the U.K. to offer support for GBP trading. Traders are able to trade bitcoins by placing buy or sell orders into an order book and those orders will be matched against opposing open orders in full or partially filled, with Britcoin acting as an escrow for the funds.

As of August 2011 Britcoin had been renamed Intersango, and after failing to establish a reliable UK banking relationship, the 

BREAKING DOWN 'Britcoin'

Bitcoins are a digital currency created in 2009, which allow users of bitcoin exchanges to make payments and trades at a very low cost. Bitcoin circulation and expansion is governed by Bitcoin software and is programmed to expand as a geometric series, thus limiting the effects of monetary inflation on the virtual currency. Bitcoins are one of many virtual currencies that can be traded online by users.

RELATED TERMS
  1. Bitcoin Exchange

    A bitcoin exchange is a digital marketplace where traders can ...
  2. Bitcoin Cash

    Bitcoin cash is a cryptocurrency created in August 2017, arising ...
  3. Bitcoin Classic

    A fork from Bitcoin Core that proposed increasing the size of ...
  4. Bitcoin Misery Index

    The bitcoin misery index measures the momentum of bitcoin based ...
  5. Altcoin

    Altcoins are alternative cryptocurrencies launched after the ...
  6. Satoshi

    The satoshi is the smallest unit of the bitcoin cryptocurrency. ...
Related Articles
  1. Tech

    Ways To Earn Bitcoins

    There are many ways to earn and own Bitcoins other than just buying them on a Bitcoin exchange.
  2. Tech

    SEC Denies Winklevoss Bid to Launch Bitcoin ETFs in Surprise Upset

    The Bitcoin world was stunned by the SEC's decision not to approve the Winklevoss Bitcoin ETF.
  3. Tech

    How Did Bitcoin Cash’s Price Perform in 2017?

    2018 will likely see bitcoin cash’s legitimacy echo its growing maturity in a rapidly developing market.
  4. Tech

    How to Buy Bitcoin

    It's one of the biggest buzzwords in the financial space, but many people don't know how to buy Bitcoin.
  5. Tech

    New Bitcoin Price Record: Over $2,000 Per Coin

    The price of Bitcoin has climbed to its highest point of all time, now trading at over $2000 per coin.
  6. Tech

    What Determines the Price of 1 Bitcoin?

    There are several factors that affect bitcoin's price, including supply and demand, forks, and competition.
  7. Tech

    How to Invest in Bitcoin Futures

    Bitcoin futures act like other futures contracts. Here's how.
  8. Tech

    What's Bitcoin Cash And Where the Heck Did It Come From?

    Here's a look at Bitcoin Cash and how its arrival has impacted the market dynamics.
  9. Tech

    The Outlook for Bitcoin in 2016

    A look at the forces behind the recent surge in Bitcoin price and how it stands entering 2016.
  10. Tech

    Bitcoin Price Holds Steady But Future Spike May Be In The Cards

    Bitcoin's price remained steady even as bitcoin cash gained more than 11% in the last 24 hours.
RELATED FAQS
  1. Why do Bitcoins have value?

    Performing with transactional anonymity, Bitcoin has value as a private digital currency, investment tool and social networking ... Read Answer >>
  2. Is Bitcoin legal in the US?

    Learn about the legality of Bitcoin as a form of payment in the United States, as well as how it is produced and concerns ... Read Answer >>
  3. How does a block chain prevent double-spending of Bitcoins?

    Find out how double-spending is prevented in the Bitcoin server and how transactions are posted and verified on the Bitcoin ... Read Answer >>
Trading Center