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The main difference between Bit and Byte is that the size of the file or the 
amount of information it contains. A bit is the smallest unit of computer 
memory, and it has the capacity to store a maximum of two different values, 
while a byte, which is composed of eight bits, has the potential to store a 
maximum of 256 distinct values.

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Bit:
The smallest unit of data in a computer. Computers store and send and receive 
data in binary. One bit of the binary system is called 1 bit, which is "0" or 
"1".

byte:
Byte is the basic unit of measurement for storage space. Abbreviated as 
capital letter "B". 1Byte stores 1 English letter; 2 Bytes stores 1 Chinese 
character;

1Byte = 8bit.