Bitcoin is a type of Cryptocurrency meaning digital currency that uses cryptography for security. Although it’s value may fluctuate, it still remains one of the most popular forms of online currency. The unknown person or group using the name, Satoshi Nakamoto are the inventor of bitcoin. The unknown inventor did not intend to create an entire currency but instead an Electronic Cash System resembling peer-to-peer networks for file sharing. Satoshi was able to create a decentralised digital cash system something many have tried and failed at.
Where can you use it?
The currency can be used in online transactions, there are currently a lot of merchants that accept bitcoin as payment. And can be exchanged for currencies, products and services. It has also been used as an investment tool. However several agencies have issued investor alerts about it.