The bitcoin is a new and innovative kind of the digital currency that uses the peer-to-peer method to manage with no banks or central authority in which issuing of bitcoin currency and it is carried out as a group by the network. The bitcoin is the open source platform that is designed specifically for the public, nobody control or owns the bitcoin in which everyone will take part in it.
Through many of the unique properties the bit coin offers exciting uses where these uses could be covered by any of the previous payment system. From the user perspective the bitcoin is nothing more than the computer program or mobile application that provides you a personal wallet for storing the Btc and allows the user to send and receive the bitcoins with them and this is how the bitcoin works for most of the users.
The bitcoin payment is easy to make than the credit or debit card purchases and can be received without merchant account; you can make the payments through the bitcoin wallet application either with the help of your Smartphone mobile device or computer by entering the recipients address, pressing the amount that you need to pay and finally you need to press send. To make it easier to enter the recipient address you can just the QR code or touch two phones together with the NFC technology. The advantages of the bitcoin is that you can make the payment freedom, fewer risks for merchants, very low fees, neutral and transparent, security and control.