Bitcoin is the world's first digital currency. Bitcoin is a digital coin that can be sent or received over the blockchain. This is known as a peer-to-peer electronic cash system. Because Bitcoin is transferred from person to person using a blockchain (without going through a bank or other financial intermediary), the transaction fees for sending Bitcoin are normally much lower compared to traditional financial instruments like credit and debit cards.
You can use bitcoin in any country. This means that for the first time nearly 2.5 billion unbanked people in the developing world will have access to a financial platform.
Bitcoin allows users to become anonymous. By encrypting the blockchain using cryptography, it is not possible to know who is involved with the transactions. For these reasons, Bitcoin is referred to as a cryptocurrency.
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