Bitcoin is the first publicly used cryptocurrency as a mean of exchange that combines decentralized control and anonymity of users. With this, no one can monitor its transaction path. It was created by a programmer by the name of Satoshi Nakamoto, a pseudonym he invented for himself to remain anonymous. In actual sense, no one knows his real name or his country and he remains unknown.

Bitcoin is mined from an incorruptible virtual ledger referred to as blockchain using mathematical algorithms. This blockchain is distributed across a network of computers worldwide and individual miners run computational analysis to mine it. The miners are rewarded for their work by earning bitcoins.

The value of bitcoin varies daily due to many factors. Currently in existence is over two billion dollars worth of bitcoin and the mining of the coin is estimated to stop when the available bitcoin itself reaches 21 billion coins. Bitcoin is the leading cryptocurrency, its path is being followed by the majority of other cryptocurrencies, now widely accepted as a medium of exchange. It has only been around for a few years and has proven beyond reasonable doubt to be the future of money.