BitCoin

BitCoin is a virtual currency created in January 2009 by Satoshi Nakamoto (probably a pseudonym) who wrote the first version of the protocol and software and runs in a completely digital way. Unlike the usual currencies (Dollar, Euro, Sterling Pound, Yen, etc.), Bitcoin is not issued by a government or by any central bank and therefore it is not controlled by any country.

Not like regular currencies, BitCoin is based on Cryptography (a branch in mathematics and computer science that deals with information security and data communications) and P2P networks. 

BitCoin coins are created in a process called "mining". The mathematical formula at the base of Bitcoin makes it possible for a total sum of 21 million Bitcoins to be created and as of December 2012 (that's was about the time a heard about Bitcoin), about 10 million coins were minted. Today there are about 16.7 million Bitcoins in circulation. Because the number of Bitcoin coins is limited to 21 million and therefore Bitcoin supporters claim that it is protected from inflation. 

One of the drawbacks is that in order to use the currency it is necessary to access the Internet. In order to hold a Bitcoin coin, a wallet is required, which stores information about how much money the wallet holder has. Such a wallet can be stored on your computer or on a remote server (Internet service). Apparently most people without technical backgrounds use websites that provide wallets. 

The Bitcoin system is designed to ensure in a completely decentralized manner (without the use of a central entity), that for each currency transfer from one person to another, the person who receives the payment can know reliably that the coins came from the payer and that they are not counterfeit. 

In addition, the recipient of the payment may know that a person who has not paid in those currencies at the same time, or in part, to another person. This problem does not exist with physical currencies, but this is a concern that arises when using a virtual currency. As of the time I write this page, each Bitcoin wallet is identified by a 27-34 character string, and money can be transferred to that address. The Bitcoin Wallet keeps a record of transactions made by the account holder and thus keeps information about the final balance of Bitcoins that the account holder has in his wallet.

If you want to get some BitCoin for free, you get get this guide on Fiverr: Get Free BitCoin Today.