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Bitcoin is a cryptocurrency that was launched in 2009 by a Japanese program developer. The real name of that person is not known. Furthermore, it is difficult to identify whether it is one man or group of people. In contrast to material money, which is released and controlled by government, there is no central organization, which manages Bitcoin. If you want to send or receive these digital money, you can easily do it. Giving your personal information or location is needless.

Bitcoins are virtual currency. The buying process is carried out in exchanges, where you can trade them for real money.

Bitcoins are created by a process called mining. Everyone can produce it. You need only a personal computer with a powerful videocard. All transactions form a blockchain. People compete to prove the correctness of the transactions. If they succeed they will get a certain number of bitcoins as a reward.

Customers should save their bitcoins in an internet wallet, a kind of software that manages your virtual money. Consequently, you are able to buy goods from merchants who accept bitcoins. You can also sell items and get bitcoins in return. You need to use your special bitcoin address when shopping. Bitcoin is a way of selling and receiving money anonymously. But most of the governments are unhappy about that invention. They see it as a good way of transferring money from illegal activities.

The value of bitcoins is proved by their popularity in the world and their safeness. If the number of users increase, then the price of currency will go up. On the other hand, scandals around Bitcoin has made the value of the digital currency go down.

Many economists expect Bitcoin as the currency of the future. However, there are people who criticize it. Because of high electricity consumption, price volatility and thefts. The network may suffer from hackers. Bitcoin is also seen as a playground for money speculation.