What are bit coin?

Bit coin are the software based online payment system; it is one type of digital currency an alternative form of money. This Bit coin represents two things i.e. “B” refers to the payment network and “bit coin” refers to currency itself. These bit coin are neither created nor controlled, or regulated by a central body.


Bit coin are created as a virtual product in reward for payment processing work, in this bit coin people use to transact freely, with no fees and no bank account instantaneously. Free from government means the rules of bit coin are set by the market, without government interference, through this bit coin usage become more stable store of value than currencies that can be inflated or deflated through control the money supply.