Bitcoin is a decentralized digital currency that uses cryptography for security and is not controlled by any government or financial institution. It allows for peer-to-peer transactions without the need for a central authority.
Transactions are recorded on a public ledger called the blockchain. Bitcoins can be bought and sold for fiat currency or other cryptocurrencies on exchanges, and they can also be stored in a digital wallet.
The supply of bitcoins is limited and controlled through a process called mining, in which computers solve complex mathematical problems in order to validate transactions and add new blocks to the blockchain.