Bitcoin is a decentralized cryptocurrency without any owner or management controlling it. It is a modern peer-to-peer digital currency that is entirely different from conventional currencies such as the US dollar. This digital currency was formed in 2008 but hit the mainstream market in 2011 as the first cryptocurrency.
How Bitcoin Works
It uses the blockchain technology to facilitate online transactions. You only need an e-wallet to store your bitcoins, and you are set to go. Many online wallets such as Coinbase continue to popup daily to fulfill the enormous demand for bitcoins. You can purchase bitcoins from these online wallets using your credit card.