What is Bitcoin, how it works, where it is kept, you will have lots of questions in your mind. Thanks to internet, today's life has become easier. We are able to do everything from getting rid of all kinds of information, shopping, ticket booking, etc. with the help of internet. Today, it is possible to make money with the help of internet. There are so many ways that we can earn money from the internet just sitting at home. One of the ways in which Bitcoin can make us a lot of money.
Some of you will have heard about Bitcoin and who know nothing about Bitcoin today they will know through this article. Yes, today I'm about to tell you what Bitcoin is about.
Bitcoin is a virtual currency. Like other currencies such as rupee, dollar, etc. Bitcoin is also a digital currency. This is very different from the other currencies because neither we can see Bitcoin nor we can touch it like money. We can store Bitcoin only in the online wallet. Bitcoin invented Satoshi Nakamoto in 2009 and since then its popularity has been increasing. Bitcoin is a decentralized currency, which means that there is no bank or authority or government to control it, i.e. no one owns it. Anyone can use Bitcoin as if we use all the internet and there is no owner of it, just like Bitcoin is there.
Why Bitcoin is used?
Bitcoin can be used for online payment or any kind of transaction. Bitcoin works on peer to peer network which means that people can easily transact with each other without any bank, credit card or any company easily. Bitcoin is considered to be the fastest and efficient to use in transactions. Many people are adopting Bitcoin today, such as online developers, entrepreneurs, non-profit organizations, etc. And due to this, bitcoin is being used worldwide for global payments.
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As we do online transactions using the other currencies, we have to follow the bank's payment process, then we can pay and every transaction we make is present in our bank account so that they can be traced Where and how much money has been spent, but Bitcoin does not have any boss, so the transactions done with him are recorded in a public accounting account which is called bitcoin "blockchain". All transactions done with bitcoin are stored there and the same blockchain is the proof that the transaction is done or not.
How much is Bitcoin's value?
Bitcoin's value is about $ 1500 above today time, Its value continues to be more or less because there is no authority to control it, so its value varies according to its demand.
What is Bitcoin Wallet?
We can just keep Bitcoin electronically stored and require bitcoin wallet to keep it. There are many types of bitcoin wallets like desktop wallet, mobile wallet, online / web-based wallet, hardware wallet, using one of these wallet, we have to make an account in it. This wallet gives us an unique id in the form of address as if you have earned bitcoin from anywhere and you have to store it in your account, then you will need that address there and with the help of that you can give bitcoin to your keep it in wallet. Apart from that, if you have to buy bitcoin or sell, then you need a bitcoin wallet and after that you can get the amount of money you get from the bitcoin that you can get in your bank account through transfer bitcoin wallet.
How can Bitcoin be earned?
We can earn Bitcoin in three ways-
The first is that if you have money you can buy a bitcoin by paying $1500 directly. It is not that if you have to buy a bitcoin, you will have to pay the full $1500, you can buy bitcoin's smallest unit "Satoshi" too. Just like 100 rupees in 1 rupee in our India, there are 100 million Satoshi in 1 bitcoin, so if you want to buy bitcoin bitosin Satoshi can gradually collect bitcoin 1 or more. When bitcoin is present and its price increases, then you can earn more money by selling it.
Another way is that if you are selling any goods to anybody online and if the bitcoin is present to the buyer, then you take bitcoin in return for the money, in such a way you will sell them also and you will also get bitcoin Which will be stored in your bitcoin wallet. If you wish, later you can get that bitcoin by selling it to a different person at a higher price.
The third method is bitcoin mining. For this, we need a computer with a high speed processor, which should also be good for hardware. We use bitcoin only for online payment and when someone pays a bitcoin, that transaction is verified. Those who verify them, we are miners and those miners have high performance computer and GPU and they verify transactions through it. They verify that the transactions are correct or have not been done in any way. Instead of this verification they get some bitcoins as a reward and in this manner they come in the new bitcoin market. Anyone can do this, it requires a computer with a high speed processor, which is not in everyone's budget.
Just as every country has a limit to print currency in a year, you can print just so many notes in a year, in the same way with bitcoin there are some limitations that more than 21 million can not come into bitcoin market. That is, the bitcoin limit is just 21 million, but bitcoin will never be found. Now talk about 13 million bitcoin in the market and those who are new bitcoin will now come through mining.
How to Buy Bitcoin (How to Buy Bitcoin in India)
You can buy bitcoin as soon as you buy gold, in Indian currency too. So let us know that there are websites from such angles from where we can buy Bitcoin easily, even in their own currency.
Here in these websites, you can easily see their pricing, in real time too.
- Unocoin
- Zebpay
What are the benefits used for using Bitcoin?
- Your transaction here is much less than the payment of fee credit card and debit card.
- Bitcoin can send you anywhere in the world and without any hassle.
- There is no account block of bitcoin here, as if for some reason the bank blocks our credit or debit card, then the problem is not here.
- If you want to invest in bitcoin for long term, you can get a lot of money from it because it has been seen in the record that the price of bitcoin which is growing is going on, meet.
- There is no government or authority in the transaction process of Bitcoin, and if you do not look at it then there are many people who use it for doing wrong work, it is a waste of time for them.
What are the Disadvantage of using Bitcoin?
There is no authority, bank or government to control bitcoin here, due to which there is considerable fluctuation in price of bitcoin, it becomes a bit risky.
If your account ever gets hacked then you will lose all your bitcoins and it can not be brought back to it, no one will help you in this.
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