Cryptocurrency has arisen as a transformative force in the financial and technical domains, drastically altering our perception and interaction with money. Virtual currency, such as cryptocurrency, has established a unique presence in global financial markets, especially following its swift growth and expansion. The adoption of blockchain technology in cryptocurrency usage has attracted interest from several institutions, including the banking sector, stakeholders, government, and private investors. Studies on cryptocurrencies are quite young and limited. These digital currencies are expected to upend established financial and legal systems by offering a substitute way for economic players to engage in transactions. This study offers a thorough study of bitcoin, including its background, underlying technology, several forms, benefits, risks and future directions in great depth. By finishing this chapter, readers will have a thorough awareness of the basic ideas and complexity related with cryptocurrencies