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About Bitcoin?

The Bitcoin symbol resembles a dollar sign with a double-barred letter B.
Bitcoin is a decentralized, digital-only currency. It has no central monetary authority. Instead, a peer-to-peer computer network maintains transactions and "creates" Bitcoins through a process called mining. Users and their transactions are anonymous; there are no international exchange rates to figure out, and no middlemen to collect fees.
Bitcoins were created in 2009, a year after an individual known as “Satoshi Nakamoto” — likely a pseudonym — wrote a paper discussing the idea and how Bitcoins could work as a method of currency.

Bitcoin wallet

Bitcoin transactions are processed through a Bitcoin wallet, an app that users download and install on their computers or smartphones. Purchasers and sellers are identified only by their digital wallet address, a string of letters and numbers. Wallets can be set up for free and with relative ease, meaning consumers can open and close wallets at will to maintain their anonymity.

Bitcoin mining

Bitcoins can be purchased using real money, but they can also be generated or "mined." Users generate Bitcoins by having their computers solve difficult mathematical algorithms that help verify the creation of new Bitcoins and the transfer of Bitcoins between users. The algorithms become progressively more difficult over time.


Source: http://www.tomsguide.com/us/what-is-bitcoin,news-18037.html