Key characteristics of Bitcoin
1. Limited supply
Bitcoin was programmed by Satoshi to have a supply of 21 Million. This is a key piece of information when evaluating the price of an asset. What it means is that no bank can pump more currency into the market (one form central banks do that is known as quantitative easing). For that reason, Bitcoin is often seen as inflation-proof and is often compared to gold.
Bitcoin is created through mining. This means, developers join the network and volunteer to verify Bitcoin transactions, so that the system can operate without authorities getting involved. In return, they get rewarded in Bitcoins for the time and electrical power they put into it.
3. Fast transactions
Bitcoin transactions are verified on average every 10 minutes. This means you can use Bitcoin to send money anywhere in the world within 10 minutes even during the weekend. As impressive as this might sound, Bitcoin is no more the fastest method of payment available, due to the rise of new cryptocurrencies with focus on transaction speed.