Bitcoin is nothing but an open source crypto currency and is the first digital money that is ever created. It was developed by pseudonym Satoshi Nakamoto in the year 2009 and its price has been gradually increasing over the past decade.

Bitcoin is a distributed accounting system which means the transactions made with this electronic currency is kept in a public ledger and the bitcoin address involved in the transaction is visible to all. It does not have a central authority like government, banks and other institution to have a control over the crypto currency. This electronic money is just like cash but can be transacted on the internet.

The price of this crypto currency has been increasing for many years and its price used to fluctuate often for numerous reasons. Bitcoin transactions are peer to peer that it there will be no involvement of any intermediary. To transact and store bitcoins, one should have a digital wallet or e-wallet which is a application that can be downloaded on your electronic devices like mobile phones, personal computers, tablets and more and this wallet is classified into 5 types which include desktop, hardware, online, mobile and paper wallets.

The transactions of these bitcoins are stored in a block chain which is a distributed, digital, public ledger and is also used to keep track of all transactions made with digital money. One can earn this electronic cash in many methods and bitcoin mining is the best as well as difficult way to get them.