The two most important features of bitcoins as successful digital currency are-decentralisation and cryptography. Unlike fiat currencies or theoretical fiat digital currencies, bitcoin is decentralised, which basically means that it isn't regulated or managed by a single institution or person. Bitcoin is based on a peer-to-peer distributed network and regulated by an open source network system that regulates the production of bitcoins on a clearly understood and transparent logic.
Since there is no single authority behind bitcoins management the fear of currency manipulation through increased production or institutional devaluation is removed. This allows the adoption of the currency to be more welcoming as users don't have to have trust in a bank or agency, but in the system itself that ensures no means of external manipulation.
Bitcoin is also a crypto currency which makes it an ideal digital medium of exchange as compared to other virtual currencies. It is also the first cryptocurrency to be so widely traded and adopted.
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