How do they work?

Traditionally it is very simple to work on Bit coin, as we have to download one software of bit coin like e- wallet, which acts like a bank account .It stores a secret code on our computer and this code enables funds to be spent from your bank account. In the language of Bit coin this bank account is called as Our Wallet. It is as fast and easy as sending email.

In this Bit coin money transfer we didn’t need anything such as any security number, any code, or any professional information of any kind. Nobody approves you for sending or receiving bit coin. It’s free and open –source to send money and receive money from anywhere of the world or to send money anywhere in the world.

In these accounts transactions are protected by a key i.e. Public key cryptography every account has a public key and a private key to open or to operate transactions.