Bitcoin (BTC) is an innovative payment network and a new kind of money. It is the first decentralized digital currency, as the system works without a central bank or single administrator. The network is peer-to-peer and transactions take place between users directly, without an intermediary.
Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.