What is Bitcoin? Why was the Bitcoin created?

Bitcoin was created in 2009 by Satoshi Nakamoto. Bitcoin is first decentralized Crypto-currency. The main aim was reduce the costing of transaction while Money Transfer. Bitcoin: A Peer-to-Peer Electronic Cash System. Bitcoin is decentralized and limited. 

The idea was to produce a internet based currency independent of any central authority, transferable electronically, more or less instantly, with no transaction fees.

Transactions are made without any third party intervention – It means, no banks! There is almost negligible transaction fees and you just your need Bitcoin address instead of real name.