Bitcoin is a cryptocurrency. It is a decentralized digital currency that is based on cryptography. As such, it can operate without the need of a central authority like a central bank or a company. Bitcoin is unlike government-issued or fiat currencies such as US Dollars or Euro in which they are controlled by the country’s central bank. The decentralized nature allows it to operate on a peer-to-peer network whereby users are able to send funds to each other without going through intermediaries. Who created Bitcoin? Bitcoin was created by an unknown individual or group that goes by the name Satoshi Nakamoto with the idea of an electronic peer-to-peer cash system as it is written in a whitepaper. Until today, the true identity of Satoshi Nakamoto has not been verified though there has been speculation and rumor as to who Satoshi might be. When was Bitcoin launched? Bitcoin was launched in January 2009 with the first genesis block mined on 9th January 2009.