Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
Bitcoin is unique in that there are a finite number of them: 21 million.
NOTE: WARNING: Sending Bitcoin from Xcoins is a risky process. Before sending any funds, you should always do your research to ensure that the platform you are using is legitimate and secure. Be aware that fraudulent websites may offer services that appear to be legitimate but are actually scams. Be sure to double check the authenticity of the website, and never send funds to anyone who you don’t know or trust.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.
As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.