First of all is there a difference ? Yes, There is. There are key concepts that we must understand before explaining which is the difference.
bit: minimum unit that handles a computer. (zero a one).
byte: it is a set of 8 bits and represents a character.
bps: (bit per seconds) unit of measurement of information transference.
bytes/s: (bytes per seconds) unit of measurement of transference of information in byte per second.
1 KB/s = 1024 bytes per second
1 kb/s = 1000 bits per second
1024 kb = 1 mb (megabyte)
The Internet connection speed is measured in Kilobits (Kb) which is different from Kilobytes (KB) the later being used to measure file sizes on a system.
Therefore if you ask for a 1Mbps broadband connection, it will take minimum 8 seconds to download a 1 MB file from the internet. Most Broadband companies define 1K as 1,000 and not as 1,024 which is the used for computing. So next time you are looking in to your internet speed do keep this in mind.
You can also install a bandwidth monitoring software that will track your internet usage behind the scenes and assist you diagnose slow internet connections and whether the ISP is giving your the promised speed or not.
We recommend Netmeter, download link here