Bitcoin is a cryptocurrency. It is a decentralized digital currency without a central bank or a single administrator, which can be sent from one user to another in a peer-to-peer bitcoin network without the need for intermediaries.
Transactions are verified by network nodes using cryptography and recorded in a public distributed book called the blockchain. Bitcoin was invented in 2008 by an unknown person named Satoshi Nakamoto and began in 2009 when its source code was released as open-source software. 1 Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.