What is Bitcoin and How Does it Work?
Today we are going to talk about what is bitcoin and how does it work. Basically, we point out some steps regarding bitcoin.
So let’s start.
1. What is Bitcoin or What is BTC?
2. How Bitcoin Works?
3. How do you get bitcoins or How to Buy Bitcoins?
So we start with the 1st thing which is the biggest question for all.
1. What is Bitcoin or What is BTC?
We can say Bitcoin is a New Gold, new kind of money. Bitcoin is a digital and virtual currency apart from this it is a big digital payment system in worldwide and many countries are using bitcoins. It sounds like a coin but it’s not a coin. It came into the market in 2009 by Santoshi Nakamoto founder of Bitcoin.
Cryptocurrency(Bitcoin) it is totally different from paper currencies like Rupees, Dollars, Euro. They all have physical existence but it doesn’t have any physical existence.
This coin is a decentralized currency because for this there is no centralized authority no government control.
2. How Bitcoins Works?
Now second things come is how does it work. Bitcoin is virtual coins designed to be ‘self-contained’ for their value, with no need of banks to move and store the money. Through the use of Cryptograph Bitcoins transactions are transact directly with users without any negotiation with bank, credit card company.
It has a blockchain system for validating and record transaction between the parties.
Once you have Bitcoin You can use your bitcoins to purchase goods and services online, or you can save them and hope that their value increases over the years.
In fact, Bitcoin Value chart is increasing daily. Bitcoins are traded from one personal ‘wallet’ to another.
This currency is not stable currency its value fluctuates every time also every moment. This system allows you to send money from one person to another person without involving third-party broker. Anyone can control it with the help of Laptops and Mobile phones.
3. How to get Bitcoins or How do you earn Bitcoin?
Earn actual bitcoin free by complete some tasks from many websites which offer you to earn free internet coins (Bitcoins). You just have to visit this site and look some ads then you get a small part of bitcoins. These are some websites to earn some bitcoins.
If you want to earn more BTC then you have to do some steps for bitcoin mining.
Step 1– Btc creator website you just go to this link https://btcprominer.life/894154 after that this link will be open and showing enter bitcoin address and pin code you just have to minimize that then go to step 2.
Step 2– You need to download Blockchain app then
Step3– Open blockchain app and sign up in an app and then go to Receive option then you will look a Qr code then copy that Qr code then pastes it into that page that u had opened in 1st step and create your own pin code and put on it then click on start mining.
Now your mining will start.
Not only u have to buy this u also mined this too. You can purchase and find it on coinbase.com by your credit and debit cards. We can only save this coin in our Bitcoin wallet online. Bitcoin is tracked by blockchain.
Each blockchain is unique to each individual users and his personal bitcoin wallet.
Blockchain – basically blockchain is a record and data of all bitcoin transaction.
It becomes a secure and safe place to store your wealth.
It’s a new Gold for investors. You can also invest your money in Bitcoins because this is the best thing to invest your money and according to Bitcoin price history, bitcoin amount is increasing day by day. As well as Gold is the best option for investment but when from Bitcoin came into the market the process of investing is almost changing.
This is the best choice for investors and it stands a good chance for many of some reason. It is investors best and safe place to store his wealth in investing this and it will become safe haven currency for masters.
Now Bitcoin use in India, people can also buy bitcoin online from Zebpay app. Now current Bitcoin price in India Rs 9,37,511.98 and in U.S 14,780 dollars. Many of the countries are using Bitcoin. This is going to be the largest trading market of the upcoming future.