Bitcoin is a form of digital currency formally known as a cryptocurrency. Bitcoin was the first official cryptocurrency which refers to a new form of decentralized digital currency that is not controlled by any single administrator or central bank and can be sent freely through a peer-to-peer network (known as the blockchain) without the need for intermediaries or any form of traditional payment processor. Bitcoin was created by Satoshi Nakamoto in 2009, and is still to this day the most widely used and most valuable of all 1,600+ cryptocurrencies currently in existence.
