Bitcoin is the world’s first decentralised currency, which means it isn’t controlled by any government or bank. This has its advantages: you can transfer Bitcoins tax-free, and transactions are usually free, or relatively low cost. But Bitcoins are also wildly volatile. In January 2013, one Bitcoin was valued at around $14. In November 2013, that value peaked at $1,124 but plummeted to $539 the following month. So we can see there are pros and cons in BTC.