Bitcoin is a collection of concepts and technologies that form the basis of a digital currency. Bitcoins are used to store and transmit value among users in the bitcoin network. Users can transfer bitcoin to do just about anything that can be done with conventional currencies, such as buy and sell goods, send money to people or organizations, Bitcoins can be purchased, sold and exchanged for other currencies at specialized currency exchanges.
Bitcoins are sent via a peer-to-peer network between users, with no middleman bank to take a fees, the bitcoin network is not controll by anyone (central authority) it is totally decentralized.
You can send bitcoins anywhere and it will processed in minutes, there are no conventional banking fees with bitcoin because there is no central bank involoved. instead, you will pay small fees to miner.
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