What is bitcoin?how does bitcoin works?

  BITCOIN

Bitcoin,cryptocurrency, crush me loud,crushmeloud

Introduction.

 The world has become so digital that everything has gone online. The most important of these is cryptocurrency. cryptocurrency i.e. digital currency or virtual currency. Bitcoin is the most sought after currency in cryptocurrency. People have always been afraid to use this currency.  So much so that it was online. When bitcoin came in, its value was very low. But its value has increased. Now it is worth 49 thousand dollars.

 What is bitcoin ?, What is the reason for this increase? Will it become real currency in the future !, How does bitcoin work ?, How to invest in bitcoin?  Let us now answer such questions.

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Page contents

  • Introduction
  • What is bitcoin?
  • How to create bitcoin?
  • What is blockchain?
  • Bitcoin mining
  • Uses of bitcoin
  • How to earn bitcoin
  • Top apps for bitcoin investing
  • Conclusion

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 What is bitcoin?

 bitcoin is a cryptocurrency that came out in January 2009. We do not see bitcoin, it's all digital money. It was developed by Satoshi Nakamoto. Satoshi Nakamoto will not be published in a magazine in 2008.

 Bitcoin is made very systematically. It works with a computer algorithm. Simply put, it's the Internet money. No one controls it. Bitcoin belongs to no government. For example, dollars belong to the United States.  No one can control it. It is a decentralized currency. Anyone in the world can send any amount of currency. Our Indian currency is 100 paise per rupee. There are 10 crore pathosis f8r bitcoin.  The value of bitcoin increased with the putting.  Because if there is more bitcoin these will be available to everyone. So limit these.

 How to create bitcoin?

 To create bitcoin we need to do a process called bitcoin mining. That is, companies like non-banking visas work in the middle to see if the transaction is correct when we send money to someone.  The mathematical block is created. The bitcoin miners solve them and add the block to the blockchain. In doing so, some bitcoins are created as a gift to the bitcoin miners. They can use them.

 What is a blockchain?

 A blockchain is like a wrap. This blockchain contains as much information as anyone in the world who has transacted bitcoin from one place to another. It's not just on one computer.  blockchain cannot be hacked because if there is that information in one computer then blockchain can be hacked and the calculations in it can be forgotten. But there are thousands of miners in the world who have that information...

 bitcoin mining.

 bitcoin mining means that a block is formed when a bitcoin transaction is done. Bitcoin mining is the process of solving a block and adding that block to the blockchain.

 Can we do mining too?

 Everyone can do mining. But it's not possible for everyone. Because mining requires big computers, it requires a lot of currents. So when that problem is generated, more heat is generated.  Computer servers have to be used, so these can be done by high-income companies. Initially, mining could be done on ordinary laptops as well. But now it is not possible with ordinary computers.

 Initially, 50 bitcoins were mined for mining. They rose to 25 again. Then to 12.5. It reached 6.25 again. It will take 2040 years for the final bitcoin to be ready.  created bitcoin.

 What is the use of bitcoin?

 Bitcoin has many uses and can cause a lot of harm.

 A good feature of bitcoin is that the currency is the same payment network. For example, a dollar is just a currency, such as phonepe, gpey, and visa, which are just a network of payments.  There is no need for intermediary companies to do that. It saves a lot of money to make a transaction. Did you know that bitcoin can save about $ 200 billion a year if used?

 If bitcoin is the real currency in the future it will not take much time to transact. It can be done from anywhere in a short time.

 If you want to send money to relatives in another country, you have to follow some government rules. It is very difficult. So if we use bitcoin, we can easily send any amount of money to anyone.

 It is unknown at this time what he will do after leaving the post.

 Bitcoin is legal or illegal in India.

 The RBI has warned everyone in India that bitcoin is being made unnoticed and out of control, and that its value has skyrocketed. However, in 2018, bitcoin was banned in India.  The ban was lifted. The RBI has warned the public that no one is liable if they invest in bitcoin and lose money.

 How to earn bitcoin?

 There are two ways to earn bitcoin: 1) mining.2) buying bitcoin.

 Bitcoin mining is very difficult so it is better to buy bitcoin. There are always many apps available to buy bitcoin. We can log in and buy all the bitcoin we need.

 Is it better to invest in bitcoin?

 Investing in bitcoin sounds good and bad. Initially when bitcoin came in it was worth 5 rupees now it has reached 49 thousand dollars which means 35 to 40 lakhs in Indian currency. Think before investing chess in bitcoin.  It is very difficult to depreciate. The value of bitcoin depends on their demand. So if their demand decreases, its value also decreases.

 Top apps for bitcoin trading.

 There are many apps for bitcoin trading. Let's learn about the top apps.

 1) WazirX

 wazirX is used to invest in bitcoin. Any of these currencies can be invested in bitcoin. In addition, wazirX has its currency, which is WRX. We can easily trade-in wazirX.

 Along with this, there are some apps to invest in bitcoin.

 2) unocoin

 3) coinDCX

 4) zebpay

 5) coinswitch kuber

 Conclusion.

 The world is investing so much in bitcoin. The price of bitcoin is increasing exponentially day by day. The value of bitcoin has changed a lot since 2009. Its value has increased from 5 rupees to a few lakhs.  But no one can predict that it will be the same.  Bitcoin is available in some countries.  In some countries, bitcoin has been banned.  It is better to do a little. If the value of bitcoin is completely zero then there will be no more loss.

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