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ORLANDO, Florida – Bitcoin – you’ve probably heard of it, but do you know how it works? Read nine things to know about cryptocurrency below:

1. Bitcoin is the world’s first and largest cryptocurrency, an electronically sent digital token that has no physical medium and is not controlled by a government or bank.

Read: Charities See More Crypto Donations. Who does it benefit from?

2. An anonymous programmer created Bitcoin in 2008.

3. The price of Bitcoin is determined by open market auctions on the Bitcoin exchanges. Like gold, its price fluctuates, but it can be extremely volatile.

4. Bitcoin exchanges and transactions are recorded on a network of decentralized computers called a blockchain.

Read: Amid Wild West Cryptos, Binance Says A Sheriff Is Needed

5. Bitcoin can be bought and sold on websites, but it can take up to seven days for it to appear in a virtual wallet.

6. It can also be redeemed in person by scanning a QR code using a digital wallet on a mobile phone or using a Bitcoin ATM.

7. Cryptocurrencies are an attractive asset to give as they allow donors to bypass capital gains tax and they offer a tax deduction.

Read: Staples Center changes name to Crypto.com Arena

8. Bitcoin can be attractive to criminals because it allows them to open a wallet anonymously.

9. It is a popular method of making ransom payments when a computer system is taken over by ransomware.

The Associated Press contributed to this report.

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