Bitcoin is the world’s first cryptocurrency and blockchain. Bitcoin was established in 2009. There are no physical bitcoins, only balances kept on a public ledger that everyone has transparent access to (although each record is encrypted). All Bitcoin transactions are verified by a massive amount of computing power via a process known as "mining." Bitcoin is not issued or backed by any banks or governments.
Did you know?
The first commercial Bitcoin transaction was for two Papa John's pizzas -- 10,000 BTC was paid for $41 worth of pizza. At today's prices, 10,000 BTC would be worth over $500 million!