Bitcoin

Bitcoin is a form of digital currency and the world's largest brand of cryptocurrency. It was the first widely known brand of crypto, and the name is often used generically in reference  to cryptocurrency as a whole.

Unlike conventional currencies like the dollar or the euro, cryptocurrencies are 100% digital: they exist as records on a distributed ledger called the block chain. This is a publically viewable financial database of all the digital transactions.

Each user has a private key, a digital signature that enables them to access funds without revealing personal information.This privacy is part of Bitcoin’s appeal, as it offers the virtual impossibility of fraud.

Cryptocurrencies like Bitcoin are also not controlled by a government or bank. The amount of Bitcoin available is based on unique mathematical algorithms that cannot be duplicated. The actual value of Bitcoin depends on supply and demand.