what is bit coin?

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Bitcoin is a worldwide crypt currency and digital payment system invented by an unknown programmer, or a group of programmers... Besides being created as a reward for mining, bitcoin can be exchanged for other currencies, products, and services in legal or black markets.
 
Bitcoins is a form of virtual currency- meaning, if you have bitcoins, you do not physically purchase goods by handing notes or tokens to the seller. Bitcoins are used for electronic purchases and transfers.
 
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Each Bitcoin is basically a computer file which is stored in a 'digital wallet' app on a smartphone or computer. People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people. Every single transaction is recorded in a public list called the blockchain.
 
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