What is Cryptocurrency and Bitcoin

Cryptocurrency 

A cryptocurrency is a digital or virtual currency that is secured by cryptography, making it nearly impossible to counterfeit or double spend. Many cryptocurrencies are decentralized networks based on blockchain technology – a distributed ledger enforced by a disparate network of computers.

A characteristic of cryptocurrencies is that they are generally not issued by any central authority, making them theoretically immune to government interference or manipulation.

Bitcoin 

Bitcoin is the most popular and valuable cryptocurrency.Bitcoin is a cryptocurrency, a virtual currency designed to act as money and a method of payment outside the control of any one person, group or entity, thereby removing the need for third parties to be involved in financial transactions. It rewards blockchain miners for the work done in verifying transactions and can be purchased on several exchanges.

Bitcoin was introduced to the public in 2009 by an anonymous developer or group of developers using the name Satoshi Nakamoto.

Since then, it has become the most famous cryptocurrency in the world. Its popularity has inspired the development of many other cryptocurrencies. These competitors are either trying to replace it as a payment system or are being used as tools or security tokens in other blockchains and emerging financial technologies.