What is Bitcoin ?
Bitcoin is decentralized digital currency, which can be transferred to anyone, anywhere in the world via internet without any mediation any from central authorities like bank or government
The key points to be noted
Its decentralized – Bitcoin currency is not store at single location, rather it is store in databases know as ledgers spread all over the world
Its Digital Currency - Unlike Dollar or Rupee, Bitcoin is digital currency and it is not present in physical form. You will not get a printed noted of a bitcoin
No Mediation – There is no central authorities governing the transaction ,which also means that there is no authority to complain if you lose bitcoin due to malformed transactions