Bitcoin is a digital currency which is used to make secure payments, and has virtually no fees. It is generated by a process called ‘mining’ and a public record of all transaction carrieds out using the medium is maintained on a ledger, called ‘blockchain’.
Bitcoin came into existence in 2008, and was launched online the following year. A user by the name Satoshi Nakamoto is given credit for the inception of this cryptocurrency. Attempts have been made to reveal the identity of this user, but none have been successful.
Bitcoin is unregulated. In other words, it is free from government control. But the biggest plus point it has to offer is that of complete anonymity. Bitcoin is seen as a tool for private, secure and anonymous transactions. This is the reason why it's so appealing.
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