What is Bitcoin

Bitcoin is a cryptocurrency invented in 2008 with a developer under a group of programmers under the name Satoshi Nakamoto. It was released to the Internet as open-source software in 2009. A "decentralised" Internet of Money without a central bank or government control, Bitcoin's circulation is provided by a network of its clients, that have a financial incentive to make sure each transaction without an intermediary is fulfilled, recorded and secured.

Its central cohesive source is named blockchain; a visible ledger which enables anybody to verify a Bitcoin trade.

Bitcoin gained high popularity as time went by. In the Aftermath of the Cyprus Banking Crisis, Bitcoin's worth more than doubled in the spring of 2013. As investors from Asia and elsewhere started to realise the potential of this digital currency, the price of Bitcoin has ever reached USD $2900+.

Bitcoin stays anonymous, it doesn't care where you are from and who you are, whereas your credit card issuers want to obtain all your private info before sending you the credit card. Bitcoin is protected that it might be very costly to hack on the whole network.

Bitcoin wallets cannot be "frozen" which you often see on people's bank account.

Bitcoin is global money. From Asia to Europe into the America, people are currently utilising Bitcoin. Everyone in the world can send and receive bitcoins around the world, and you won't worry about the high cross-border transaction fee.

By using Bitcoin, the trade fees are very low, comparing to the fees related to credit card payments, PayPal transaction and bank transfers.

There are many places to buy and sell bitcoin. Do a search on Google you can find a bunch of websites that you can trade bitcoins in Australia.