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Bitcoin is a worldwide payment system for cryptocurrency. The system works without one central bank or a single administrator and is the first decentralized digital currency. The network is peer-to-peer and there are direct, non-intermediary transactions between users.

These transactions can be checked using cryptographical network nodes and recorded as a blockchain in a distributed public directory. Bitcoin was invented and released in 2009 as open-source software by an unknown person or group of people known by the name Satoshi Nakamoto. As a reward for a mining process, Bitcoins are created. You can swap for other currencies, products and services. As of February 2015, Bitcoin was accepted as payment by over 100,000 traders and sellers.


The receiver of the first bitcoin transaction, programmer Hal Finney, was one of the first supporters, adopters and contributors to Bitcoin. On the day it was released, Finney downloaded a bitcoin software and received 10 Nakamoto bitcoins in the world’s first bitcoin transaction. Wei Dai and Nick Szabo, the creator of bitcoin’s B-money predecessor, were also early proponents. It is estimated that Nakamoto mined 1 million bitcoins in the early days.

In 2010, Nakamoto handed Gavin Andresen, who became the lead developer at the Bitcoin foundation, over the network alert and control of the Bitcoin Core code repository.

Where to Buy Bitcoin (BTC)?

Bitcoin can be bought really easily on the following websites:

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