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Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. The network is peer-to-peer and transactions take place between users directly, without an intermediary.

These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.

An exchange is a marketplace in which securities, commodities, derivatives and other financial instruments are traded. The core function of an exchange is to ensure fair and orderly trading and the efficient dissemination of price information for any securities trading on that exchange.

Binance is a China-based cryptocurrency exchange that lists most of the Chinese coins.

Coinbase is one of the foremost cryptocurrency exchanges and the largest Bitcoin broker, also called as digital currency exchange

Dash is an altcoin or cryptocurrency that was mainly designed as a fork of Bitcoin

Ether also acts as a currency which is used to pay the transaction fees and services on the Ethereum

Zcash is a digital currency or cryptocurrency that works on a peer-to-peer decentralized format

Bitcoin Cash network split into two when the network tried upgrading to a new software program.

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