What is Bitcoin and how it works full Details, where is it kept, there will be many questions in your mind about all this? Today people life has become easier due to the Internet. For getting all types of information like shopping, booking tickets, etc. We are able to do everything with the help of the internet. Today Bitcoin is very popular so, today you know about bitcoin in detail.
Nowadays many millions of people earn money with the help of the internet. There are many ways by which we can earn money from the internet sitting at home.
What is Bitcoin
Bitcoin is a virtual currency. Just like other currencies are as Dollar, Rupee, etc. In the same way, Bitcoin is a digital currency. It is totally different from other currencies because we can neither see nor touch Bitcoin like money. It is only stored in the Digital form.
Bitcoin is a type of cryptocurrency. The English word ‘crypto’ means secret.
We can only store Bitcoin digital currency in an online wallet. Bitcoin currency was invented by Satoshi Nakamoto in 2009 and since then its popularity has been increasing. Bitcoin currency 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 on the Internet.
Bitcoin Price Today
The value of Bitcoin is around $ 34,999 in today’s day, which means that the value of one Bitcoin is 26,02,630 in Indian Rupees. Its value getting more or less time-to-time 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 by storing a bitcoin we need a wallet to keep it. There are many types of wallets in which you can store your income such as:-
- Desktop Wallets
- Mobile Wallets
- Online / Web-based wallets
- Hardware Wallets
This digital 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, you need a unique address and with the help of that, you can transfer bitcoin to your account.
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.
What are the benefits of using Bitcoin?
1. You can send Bitcoin anywhere and anytime in the world without any problems.
2. Here your transaction fee is very less than paying by credit card and debit card.
3. No government or authority in the transaction process of Bitcoin keeps an eye on you, so there are many people who also use it to do wrong things, then it is beneficial for them.
4. Here the account of bitcoin is not blocked, like sometimes for some reason the bank blocks our credit or debit card, then that problem does not happen here.
5. 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 growing, then you may get a lot of benefits from it going forward.
What are the disadvantages of using Bitcoin?
1. There are no authorities, banks, or governments 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 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.
Also, Read: Difference between Prepaid and Postpaid
How to earn free Bitcoin
There are many ways to earn bitcoin online like from online shopping from such a website which gives Bitcoin as a cashback like Lolli is the website. From this website when you purchase products then they give you Bitcoin as a cashback.
How to Buy Bitcoin ?
There are many exchanges in the market from where you can easily buy bitcoin and other types of cryptocurrency like : ethereum, polkadot, solana, cardano, etc.
- Coin DCX
- Coin switch , etc.
Note : – If you are a beginner than I recommend you to go with Coin DCX. Because here you can easily buy or sell cryptocurrency currencies.
Also, Read :
FAQ of Bitcoin Currency
Q1. What is the Hindi meaning of Bitcoin?
Q2. Bitcoin price in India.
Price of Bitcoin Change time-to-time But today Bitcoin price is about 26,02,630 in Indian rupees or in $ 34,999.
Q3. What is Bitcoin?
Bitcoin is a virtual currency. Which is stored in our digital wallets and from where you can purchase products.
Q4. What is Cryptocurrency?
Cryptocurrency is also called digital currency. It is a type of Digital Asset that is used for the purchase of goods or services. Cryptography is used in these currencies.
Q5. When was bitcoin created?
Q6. Which country use bitcoin currency
Friends who made bitcoin? No one knows why it was made and how it was made. And which country’s currency is this, it can not even be said.
But there is a country in which country has considered Bitcoin as its official currency. The name of that country is Liberland.
In this article, you know about what is bitcoin and how it works in full detail. If you like this article then share it with your friends. Thanks for Reading…