Cryptocurrency is used in a digital payment system and it is traded 24 hours a day 7 days a week.
Cryptocurrency is a decentralized and peer-to-peer transactions, taking place between users directly, without a central repository or single administrator. These transactions are verified by network nodes and recorded in a public distributed ledger called the blockchain. This Digital money is different than the traditional finance. We could describe it like an email but instead of sending message, you are sending money.
Bitcoin, BTC, is called the first decentralized digital currency. The other examples are Ethereum, Litecoin, Namecoin, etc.
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This Virtual Currency is becoming more and more popular in a fast pace which you could see the acceptance in retail, financial transaction systems, employment salary payments, etc. To store your BTC, you can open a wallet account here, which you will be received Free $10 for referring 1 friend to store.
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The blockchain is the important segment of the protocol that linking the network of crytocurrency transactions together. Bitcoin is dependent on the blockchain that hold the entire system. It keeps track of every transaction made in the network. All transactions are timestamped and verified by network miners.
Bitcoin is invented by Satoshi Nakamoto. In the original 2009 Bitcoin whitepaper, he described Bitcoin as "A Peer-to-Peer Electronic Cash System". This internet cash money has the capacity to change the world. Bitcoin's price is determined by the laws of supply and demand. Because the Bitcoin supply is fixed, thus, as more people use Bitcoin, will force the price to go up. Because the number of people using Bitcoin in the world is still relatively small, the price of Bitcoin in terms of traditional currency like USD can fluctuate significantly, but will increase as more people start to use it. For example, in early 2011 one Bitcoin was worth less than $1, but in 2015 one Bitcoin is worth hundreds of USD.
Disclosure: Trading financial instruments involves certain amount of risk.
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