Bitcoin is a digital currency which was put to roll on in the net by Satoshi Nakamoto. It is basically a network system which is to a large extent made publicly available by creating a file called blockchain. Thus bitcoin network is designed to operate with greater transparency. The system is totally decentralized requiring no central authorities like banks or fed etc. the network is more public than any other banking network.
Each and every transaction gets recorded in the ledger of blockchain and by so it is seen by public which hinders any user to make bad checks. Because the network is public the faulty transactions can be traced back long after the transaction dates. The services like bitcoin have made it possible to hide the transaction. It works on a good amount of blind trust. Bitcoin already has accumulated a large pool of digital currency which may go up to 21 billion units by the year 2040 which has made it possible for services like bitcoin. One single bitcoin is estimated to be the equivalent $40. The value is increasing with the increase in the popularity of the bitcoin network.
The bitcoin is divided into 100 million smaller units which are called Satoshis. In the account you may find numerals like 0.00000001which is actually one Satoshis. For exchange of bitcoin for some services or commodity toy need to worry much because you are not to receive payment. But for receiving payments as is often the case with businesses, you have to get a QD code.
The main difference of bitcoin currency from the other currency is that unlike other currencies, bitcoin has no central authority which is to control and transact the bitcoin currency. The transaction here is based on a system called cryptography. While sending the transaction it has to be encrypted with the help of the public key of the person to which the transaction is sent. The receiver decrypts with his private key. The system is so designed that the private key cannot be derived from the public key. In this way the btc to usd system becomes completely secure. For receiving payments through the bitcoin network you have to open QD code which the sender would like to see. The sender would like to take a photo of the code too. It is time to get the conversion.