Bitcoin is a pure peer-to-peer form of electronic money that would permit the online payments to be sent directly from one party to another without going through a financial organization and Bitcoin is completely cashless. Bitcoin transactions are sent from and to electronic bitcoin wallets and are digitally signed for security. Bitcoin mining is decentralized, anyone having the compatible hardware will participate in mining. Bitcoin is not accepted as a commodity, not a barter currency, but Bitcoin is accepted as barter in India and Singapore.”]
Source: https://gbhackers.com/all-that-you-should-know-about-bitcoins-and-its-exchange-a-detailed-overview/