It’s a digital currency which is not printed like Dollars and Pound. There’s no single institution that controls bit coin network.
Some of the important characteristics are:
- It’s portable
- It’s divisible
- It’s cheap and there’s no chargebacks
- It’s anonymous
- Transition fees are miniscule
- It’s non-repudiable
To know more about how bit coins are produced and how it is used watch this video.
