What is Bitcoin?

Started in the year 2009, Bitcoin is a form of digital currency and also known as peer-to-peer electronic cash system or ‘cryptocurrency’. A mysterious Satoshi Nakamoto had put the idea in a white paper for such sort of currency. However, the real identity of him/her is still yet to be confirmed. Bitcoin works with the assurance of lower transaction charges in comparison to the convenient online payment method. It functions through a decentralised authority, which is quite different from the government-regulated currencies.