The mitral valve is also called the bicuspid valve because it contains two leaflets or cusps. ... The tricuspid valve has three leaflets or cusps and is on the right side of the heart. It is between the right atrium and the right ventricle, and stops the backflow of blood between the two.
They are both valves. The difference comes in their location and structure.
Bicuspid/Mitral valve is found between the left ventricle and atrium and has 2 flaps, whereas the tricuspid valve has 3 flaps and is found between the right atrium and the right ventricle.
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