Bitcoin is a digital currency that has gained a lot of attention and popularity in recent years. It exists only in digital form and is not controlled by any central authority, like a government or a bank. Bitcoin is referred to as digital gold due to is programmed scarcity and is best used as a store of value as well as a hedge against inflation. It is also used as a peer to peer currency where a sender can pay a receiver via the blockchain and wallets and without any intermediaries like a bank.