Bit coins are mine by a private network of computers. They are linked by programs. Each transaction that you make in bit coin is stored under blockchain, they are recorded in ledger and the wallet app also. These involve new algorithms which hard for hacking.
Advantages of using bit coin
Irreversible transactions
Once you transfer the money as bit coin, you cannot reverse them. It is hard to hack, so there is no person who can hack your transfer. It is 100 percent irreversible. Always choose a trusted vendor to make healthy transactions.
Zero paper work
People can transfer or buy bit coin from any country. The value remains same for every address that you choose. It is not restricted to hold only one transaction address. You can have multiple bit coin address, they are maintained by cloud itself.
Information on value
For every bit coin you buy, there are transactions which show in graph. They help you understand the efficiency of transactions whether currency is stabilized or it has increased I value. Every time the value of bit coin increases then they are updated through graphs. It helps you in taking decision of buying bit coin in future
Quick and cheap
It destructs the conventional way of moving money to other investors. They take lesser time to update on the bit coin transactions. No day or hour it takes, few minutes is enough on knowing about the transfer of cash did through btc wallet. They are not expensive as credit or debit card transactions.
