Bitcoin is a form of digital currency that is created, held, and transferred electronically. It’s the first and most well known example of a growing category of money known as cryptocurrency. A cryptocurrency is a type of currency that use cryptographic techniques to secure its transactions. These cryptographic techniques are essentially a series of complex equations to ensure that transactions can only be completed once.
One of Bitcoin’s most important characteristics, and the thing that makes it different from conventional money, is that it is decentralized. This means that no single institution controls the Bitcoin Network. Bitcoin manages all transactions and issuing money using peer to peer technology.