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Bitcoin promises lower transaction fees than traditional online payment mechanisms and, unlike government-issued currencies, it is managed by a decentralized authority.
There are no physical bitcoins, just funds stored in a ledger, which can be transparently accessed by anyone (although all entries are encrypted).
Bitcoin is not issued or endorsed by banks or governments, nor is an individual bitcoin valuable as a commodity.
Well, you can mine them to get your hands on the oldest cryptocurrency in the world.
Mining is the process of obtaining cryptocurrencies by solving cryptographic equations using powerful computers.
From this, one can create new Bitcoins that go into circulation and are also added to the blockchain ledger.