Bitcoin (BTC) was the first distributed digital currency created as an open source project in 2009. It was invented by a user named Satoshi. Bitcoin software uses advanced technologies and algorithms to create an online international secure payment system. These transactions recorded in decentralized public ledgers. Bitcoin holds the largest market capitalization and value of all cryptocurrencies and is 19 times larger than the next cryptocurrency, which ranks second in the rankings.
The number of units is 21 million, of which 16 million are already mined. The upper limit ensures that inflation does not reduce its value.
When users allocate computer processing power to mine Bitcoin, they will receive transaction fees and newly created coins. Its units can be purchased or sold against other cryptocurrencies or fiat currencies, such as USD or EUR on multiple exchanges, like traditional currency transactions. BTC can also be saved or used to pay for goods or services.