Bitcoin is a virtual currency. Like other currencies are Rupee.Bitcoin is also a digital currency in the same way as Dollar etc.It is completely different from currencies because neither we can see Bitcoin nor can we see it as money.
It can not touched.We can only store Bitcoin in an online wallet of bitcoin.
It was invented by Satoshi Nakamoto in 2009 and since then its popularity has been increasing.It has been Bitcoin is a decentralized currency, which means that there is no bank or authority or government to control, that is, no onedoes not own.
Anyone can use bitcoin like we all use internet and
it also has no owner, in the same way that Bitcoin is also.
Why is bitcoin used?
We use bitcoin to make online payment or any kind of can do transactions. Bitcoin peer to peer network.Works on the basis of which means that people interact with each other directly without any bank,Transactions can be done easily through credit card or any company.
Huh.
Bitcoin is considered to be 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 if we do online transactions using other currencies.We have to follow the payment process of banks, only then can we make payment.We are able to do it and the account of every transaction done by us is present in our bank account.
remains so that it can be ascertained where and how much money has been spent, but
Bitcoin does not have any owner, so the transactions done with it are a
Recorded in the public ledger (account) which bitcoin "blockchain"
say.
If you have the money, you can buy a bitcoin directly for $999. It's not even that
If you want to buy a bitcoin then you have to pay full $999 if you want bitcoin
One can also buy the smallest unit of “satoshi”.
How to earn bitcoins
If you are selling something to someone online and if that buyer has bitcoin
If it exists, then you take bitcoin in exchange for money, in this case you will also sell those goods to them and
You will also get bitcoin which will be stored in your bitcoin wallet.
What is a bitcoin wallet?
We can only store bitcoin electronically and keep it
bitcoin wallet is required. There are many types of bitcoin wallets such as
desktop wallet, mobile wallet, online / web-based wallet,
Hardware wallet Using one of these wallets, we need to create an account in it.
It happens.
Blockchain analysts estimate that Nakamoto had mined about one million bitcoins, before disappearing in 2010 when he handed the network alert key and control of the code repository over to Gavin Andresen. Andresen later became lead developer at the Bitcoin Foundation. Andresen then sought to decentralize control. This left opportunity for controversy to develop over the future development path of bitcoin, in contrast to the perceived authority of Nakamoto's contributions.
Benefits of using Bitcoin -
It is most popular because if you are working for a long time (like 6 months or 1 year).
Investing in Bitcoin can be of great benefit. Because according to the records so far
The value of bitcoin is increasing continuously. But its value can also be less. That
In this case, you may also face loss. So if you want to invest in it
So it can give you a lot of profit or profit and you can buy it for less and sell it for more money.
Huh.
The government is also unaware of Bitcoin and it is also tax free. Government
It cannot be taxed.
Bitcoin is easy to use and absolutely secure. your security on it
And personal informations are taken full care of.
Disadvantages of Bitcoin –
There is no governing authority, (bank or government) to control it. Its rate
Keeps doing a lot of fluctuate (more or less). So sometimes it can be risky.
If your account gets hacked sometime, you will lose all your bitcoins and it will
It cannot be brought back, no one will be able to help you in this.
When you buy a salmon online using Bitcoin and the seller will give you the bad stuff
If you send it, you cannot get a Bitcoin refund by returning it.
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