What is bitcoin? How does it work? and How can it be earned?

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What is bitcoin

What is bitcoin, how it works, where is it kept, there will be many questions in your mind about all this? Today everyone’s life has become easier due to the Internet. From getting all kinds of information to shopping, booking tickets, etc., we can do everything with the help of the internet.

Nowadays it has become possible to earn money with the help of the internet. There are many ways by which we can earn money from the internet sitting at home. One of those ways is Bitcoin, due to which we can earn a lot of money.

Some of you must have heard about Bitcoin and those who do not know anything about Bitcoin, today they will come to know through this article. Yes, today I am going to tell you about what is bitcoin.

What is Bitcoin? Explain Now

Bitcoin is a virtual currency. Just like other currencies are Rupee, Dollar, etc., in the same way, Bitcoin is also a digital currency. It is completely different from other currencies because we can neither see nor touch Bitcoin like money.

We can only store Bitcoin in an online wallet. Bitcoin was invented by 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, that is, no one owns it.

Anyone can use Bitcoin as we all use the internet and there is no owner of it, in the same way, there is also Bitcoin.

Why is bitcoin used?

We can use bitcoin to make online payments or to do any kind of transaction. Bitcoin works on peer-to-peer network-based which means that people can easily transact with each other directly without any bank, credit card, or through any company.

Bitcoin is considered the fastest and most efficient to use in transactions. Nowadays many people are adopting bitcoin-like online developers, entrepreneurs, non-profit organizations, etc. And because of this bitcoin is being used for global payment all over the world.

Like we do online transactions using other currencies, then we have to follow the payment process of banks, only then we can make payment and the account of every transaction done by us is present in our bank account so that it can be detected. Where and how much money has been spent, but no one is the owner of bitcoin, so the transactions done with it are recorded in a public ledger (account) which is called bitcoin “blockchain”.

There, all the transaction details done with bitcoin are stored and the same blockchain is the proof of whether the transaction has taken place or not.

bitcoin today rate

The value of bitcoin in today’s day is about $ 11,855, meaning the value of one bitcoin is 8,85,000. Its value keeps getting more or less because there is no authority to control it, so its value keeps changing according to its demand.

What is a bitcoin wallet?

We can only store bitcoin electronically and to keep it a bitcoin wallet is needed. There are many types of bitcoin wallets such as desktop wallets, mobile wallets, online/ web-based wallets, hardware wallets, using one of these wallets, we have to create an account in it.

This wallet gives us a unique id in the form of an address, as if you have earned bitcoin from somewhere and you have to store it in your account, then you will need that address there and with the help of that you can store bitcoin in your account. Can keep in a wallet.

Apart from that, if you want to buy or sell bitcoin, then you need a bitcoin wallet and after that, all the money you get in exchange for the bitcoin you sell can also get it transferred to your bank account through bitcoin wallet.

How to earn bitcoin ?

We can earn bitcoin in three ways. Here we have given complete information on how to create a bitcoin account.

1. The first way is that if you have money, then you can buy a bitcoin directly by paying $ 999. It is also not that if you want to buy a bitcoin, then you have to pay the full $ 999, if you want, you can also buy the smallest unit of bitcoin “satoshi”.

Just like there are 100 paise in 1 rupee in our India, in the same way, there are 100 million satoshis in 1 bitcoin, so if you want, you can gradually accumulate 1 or more bitcoin by buying the smallest amount of bitcoin satoshi. When you have bitcoin and its price will increases, then you can earn more money by selling it.

2. Another way is that if you are selling any goods to someone online and if bitcoin is present with that buyer, then you take bitcoin in exchange for money, in this case, you will sell those goods to them and you will also get bitcoin. Which will be stored in your bitcoin wallet.

If you want, later you can also get profit by selling that bitcoin to another person at a higher price.

3. The third way is bitcoin mining. For this, we will need a computer with a high-speed processor whose hardware should also be good. We use bitcoin only for online payment and when someone pays with bitcoin, that transaction is verified.

Those who verify them, we call them miners and those miners have high-performance computers and GPUs and they verify transactions through this. They verify whether the transactions are correct or not or whether any kind of manipulation has been done in it. In exchange for this verification, they get some bitcoins as a reward and in this way, new bitcoins come to the market.

Anyone can do this, for this, a computer with a high-speed processor is required, which is not in everyone’s budget to buy.

Just like in every country there is a limit to print currency in a year that you can print just so many notes year, in the same way, there are some limitations with bitcoin as well that more than 21 million bitcoins cannot come into the market. That is, the limit of bitcoin is just 21 million, more bitcoin will never be found than that.

Talking about now, about 13 million bitcoins have arrived in the market and the new bitcoins will now come through mining.

What are the benefits of using Bitcoin?

1. Here your transaction fee is very less than paying by credit card and debit card.

2. You can send Bitcoin anywhere and anytime in the world without any hassle.

3. There is no account block of bitcoin here, like sometimes for some reason the bank blocks our credit or debit card, then that problem does not happen here.

4. If you want to invest in bitcoin for the long term, then you can get a lot of benefit from it because it has been seen in the record that the price of bitcoin is increasing, then later you may get a lot of benefit from it. meet.

5. If any government or authority in the transaction process of Bitcoin does not keep an eye on you, then many people also use it to do wrong things, then it is beneficial for them.

What are the disadvantages of using Bitcoin?

1. There is no authority, bank, or government to control bitcoin here, so due to this, there are many fluctuations in the price of bitcoin, then it becomes a bit risky.

2. If your account ever gets hacked then you will lose all your bitcoins and it cannot be brought back, no one will be able to help you in this.

How to buy bitcoin?

You can buy bitcoin just like gold, that too in Indian currency. So let us know that there are such websites in India from where we can buy Bitcoin very easily, that too in our own currency.

Here on these websites, you can easily see their fair price, that too in real-time. If you need detailed information on how to buy bitcoin, read here.

1. Wazirx

2. Unocoin

3. Zebpay

1. Wazirx

Wazirx

Wazirx is currently the most preferred and most used cryptocurrency exchange in India. In this, anyone can buy and sell cryptocurrency very easily. At the same time, its UI is very nice and intuitive to use. At the same time, you also get to see many new features in this.

Features:

1. Accessible Across Platforms – You can access the WazirX trading platform on many different platforms. Whether it is Web, Android smartphones, Apple iOS mobiles, Windows, and Mac systems.

2. Range of Cryptocurrency – In this, you can trade around 100+ cryptocurrencies pair with USDT. USDT is actually a Tether USD currency that is 1:1 backed by US dollars.

3. Speed ​​Transaction – Their platform is very stable and it has the capability that it can easily handle crores of transactions smoothly.

How to buy?

If you want to buy Bitcoin or any other cryptocurrency then you can buy it by visiting Wazirx’s website.

Note: – If you ask for Referral Code, then definitely use

2. Unocoin

Unocoin

Unocoin is a very friendly website that can be used by anyone. With this, you can buy and sell bitcoin very easily. Unocoin has many such features that make it different from others.

Features:

1. Zero % fees – Unocoin does not charge customers any fees for accepting bitcoin as a payment method

2. Simple Integration – You can easily integrate your business with Unocoin.

3. 0% Volatility Risk – If there is some fluctuation in the price of Bitcoin, then you can keep Bitcoin or you can sell it immediately.

4. No Chargebacks – If you are using Unocoin then you do not have to pay any chargeback.

5. OTC Trading (Over counter)

6. Auto Sell Bitcoin

7. Netki – You can create your own Bitcoin address which can be read by anyone

8. 2 step authentication for more security

How to buy?

If you want to buy Bitcoin, then you can buy it by visiting Unocoin’s website.

Note: If you ask for Referral Code, then definitely use so that you can easily get bitcoin of Rs.200/-.

3. ZebPay

zebpay

Zebpay is a very user-friendly website from which you can easily buy bitcoin. Zebpay has access to many vendors so that it provides more convenience.

Features:

1. You can also fill top up in your mobile and DTH with the help of Bitcoin.

2. You can buy vouchers from Amazon, Flipkart, and MakeMyTrip so that you can save up to 10%.

3. Fastest way by which you can buy Bitcoin.

4. It is also very secure.

5. Lowest price in the market.

6. You can also buy from mobile using the app.

How to buy

If you want to buy Bitcoin then you can buy it by going to Zebpay’s Android Application.

Note: If you ask for Referral Code, then definitely use so that you can easily get bitcoin of Rs.100/-.

What did you learn today?

This was the information related to bitcoin, I hope you have understood what is bitcoin, how can it be found and what are its advantages and disadvantages.

It is always our endeavor to provide all the information which is importantly related to bitcoin and other cryptocurrencies. We will continue to provide you with more such information about Bitcoin. If you know anything else, then do share it with us.

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