Bitcoin

Bitcoin is a type of digital currency that can be used electronically between individuals. Bitcoin does not have a single administrator, not one single institution controls it and coins can be sent to anyone on the peer-to-peer network.

It is generally used by people that do not agree with government run backs and would rather their money not ruled by anyone. It is used by a network of codes by cryptography and is recorded in blockchain by people from around the world that maintain the cite.

With bitcoin there is an underlying algorithm that only allows a certain amount of coins to come out every hour. As demand grows, the value increases, making bitcoin hard to obtain and very expensive to buy. Transactions of Bitcoin cannot be reserved and cannot be tampered with which is comforting for most people that are using the currency.

In bitcoin, you do not have to identify yourself to accept or give money away as there is no validator. All that has to be accepted is that you have the sufficient amount of bitcoin in your wallet to give to an individual. You are only identified by the size of your wallet which is easier to comply with than the identification process that banks use.