Bitcoin is a digital coin.
It can be viewed as an alternative to the standard ways of payment such as the dollar and the euro. All the bitcoin payments are recorded on a widely distributed ledger, also know as the Blockchain. The Blockchain is open for everyone and distributed among the users, leading to full transparency.
Because every transaction is recorded on the Blockchain, Bitcoin therefore also known as a decentral coin. The amount of Bitcoins in circulation is limited, meaning that the suppy of Bitcoins cannot increase forever. Additionally a great advantage of Bitcoin is that global payments can be transferred in a couple of seconds, the costs of transaction by bitcoin are currently extensive.
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