Bitcoin is a distributed peer to peer digital currency. You can think of it as electronic cash that you can use to send money to friends or merchants hassle-free.
Bitcoin was invented by cryptographer Satoshi Nakomoto, who published the first white paper on the digital currency in 2008. He then went on to release the first version of the Bitcoin software a year later. Bitcoin has come a long way since then, and is now used widely across the globe for a number of transactions.
Once you’ve sent your Bitcoin, it goes through a process known as ‘mining,’ which involves verifying the transaction once it’s received by the Bitcoin network. Following this process, the transaction is moved to a public digital ledger called Blockchain.