Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. The network is peer-to-peer and transactions take place between users directly, without an intermediary.
These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009.
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.
Bitcoin can be purchased on online exchanges and some bricks-and-mortar businesses. A growing number of investors are buying bitcoins as a way to store their money or as an investment.
The Lowest amount of Bitcoin you can buy is 0.00000001 BTC (also known as 1 Satoshi).
This amount will allow you to test the waters with Bitcoin without having to invest too much money.