Bitcoins are a digital currency based on blockchain technology that allows users to send and receive money directly without banks or intermediaries https://etherions.com/what-are-bitcoins-and-why-do-people-use-them/. They are decentralized, meaning no government or financial institution controls them, and transactions can be made with a high level of privacy. People use Bitcoins for fast international transfers, lower transaction fees, online payments, and as an investment or store of value outside traditional financial systems.