Bitcoin is a cryptocurrency created in 2009 by an alias named Satoshi Nakamoto. The unique feature of Bitcoin is there is no middlemen. It is a peer to peer system and transactions are made without the help of a bank. Bitcoin can be used at a number of online shops, however people have seem to found power in trading the Bitcoin. Bitcoin pledges to have lower transaction rates and that all transactions are known to the public on a ledger. You will never find a physical bitcoin, they are all stored on a cloud. Banks and the government do not back the bitcoin. Through the use of the peer to peer system, bitcoin transactions are almost immediate.