Bitcoin (BTC) is the first decentralized digital currency, or cryptocurrency, to be created and used on a global scale. It was developed in 2008-2009 by an anonymous individual or group known as Satoshi Nakamoto built upon an MIT open-source license to provide users with a secure and efficient way to make payments without relying on traditional financial institutions.
Bitcoin has since become one of the most popular forms of payment online today due to its low transaction fees, fast processing times, and lack of government interference.
The technology behind Bitcoin is blockchain which allows for transactions to be recorded publicly across multiple computers connected in a network called nodes. This means that all transactions are transparently tracked making it nearly impossible for hackers to steal funds from user’s wallets as each block contains information about previous blocks creating an unalterable chain that can not be changed once written into existence; this makes it highly secure compared to other payment methods such as credit cards where personal information must remain confidential at all times making them vulnerable targets for theft or fraud.
Despite its popularity amongst investors and traders alike, there are still many risks associated with investing in bitcoin including high volatility levels which can cause drastic price swings causing losses if you don’t know when the best time to buy/sell your investment; also there have been concerns raised regarding possible government regulations surrounding cryptocurrencies should they become more widely adopted due to their potential use in illicit activities like money laundering, etc…
Despite these drawbacks, however, people continue to flock towards bitcoin because it offers users complete control over their finances without having to rely upon any third-party intermediaries meaning no bank account is required!