Bitcoin is a popular and distributed peer to peer digital currency, created and stored electronically. You can think of it as electronic cash that you can use to send money to friends or merchants hassle-free. It’s not centrally controlled, nor are they printed; instead, Bitcoin are made by people and businesses through software that solves mathematical problems.
Bitcoin belong to a growing category of digital money called cryptocurrency.
One of Bitcoin’s most distinguishing characteristics is that it’s completely decentralized. This means that its network is not controlled by any one institution. This makes a lot of people feel secure because it means that a large bank or institution won’t be able to control their money.
Bitcoin was invented by cryptographer Satoshi Nakamoto, who published the first white paper on the digital currency in 2008. He then went on to release the first version of the Bitcoin software a year later. Bitcoin has come a long way since then, and is now used widely across the globe for a number of transactions.