You must have heard the name of Bitcoin. Bitcoin is a popular digital currency. Nowadays everyone wants to know about it.
In today's post, we will give you complete information related to bitcoin. Here we will tell you what is bitcoin? What is bitcoin currency? How to buy bitcoin? How to earn bitcoin for free? How to invest in bitcoin and What is bitcoin mining. So let's start-
What is bitcoin?
Bitcoin is a crypto currency, We also call it Virtual Currency. It is used only for online transactions. You cannot see or touch Bitcoin. You can keep it in online Wallet only.
All the accounts in Bitcoin are recorded in a public account called Blockchain. By which we know whether the transaction has happened or not. The transaction done through this is opposite to Debit or Credit Card.
It was invented by Satoshi Nakamoto in 2009. Bitcoin is a decentralized currency. This means that neither it is controlled by any bank authority nor any government authority.
Bitcoin is used as a wallet. You have to create your account in this Electronic Wallet. After the account is created, a unique ID is received, using which you can keep Bitcoin in your wallet and transfer it to the bank account by exchanging it in your currency whenever you want.
The prices of bitcoin fluctuate very quickly and in such a situation it is a bit risky to buy it. Due to which some financial experts also advise to stay away from it. But in today's time if you want to buy bitcoin then you should buy it only when its price is low.
This is the reason that nowadays Bitcoin is being considered as the fastest and most efficient for transaction. So let us now give you a little detail about Bitcoin, how you can buy it, and how it is mined.
How to buy bitcoin?
Nowadays it has become very easy to buy Bitcoin. There are many ways to buy it. You can buy and sell Bitcoin very easily through any Trusted Wallet. For that, first of all you have to create your account on any wallet, after that you can buy it with the help of Debit or Credit Card.
There are some very popular wallets using which you can buy Bitcoin easily. Such as Wazirx, Zebpay, Unocoin etc.
How to earn bitcoin for free?
There are many ways to earn bitcoins for free on the internet. First of all there are some apps and websites from where you get a chance to earn bitcoins for free.
Coin Switch is also an application from where you can earn bitcoins for free. Here you can also do bitcoin trading. Apart from this bitcoin mining is also a good option to earn bitcoins for free, but for this you will need a large and powerful mining setup.
What is bitcoin mining?
When we send money to someone through online transaction, the bank verifies the money sent by us and process it further.
But no authority controls the cryptocurrency, so only computers work between the sender and the receiver, through which transactions are validated.
These computers are run by someone or the other. And in return for their work they get some bitcoins. This is called bitcoin mining.
Advantages of bitcoin
- Bitcoin account is never blocked.
- No fees are levied on any bitcoin transaction.
- There is no government authority over bitcoin so there is no risk of it being closed.
Disadvantages of bitcoin
- If you have ever done any wrong transaction then you cannot ask for it back.
- There is no government authority on bitcoin, due to which sometimes its price rises and sometimes falls suddenly. Due to which there is a risk of both profit and loss.
- Bitcoin is a digital currency, it has no physical form, so users cannot use it in physical stores.
Bitcoin today price
To find out what the bitcoin rate or bitcoin today price, open the Google Chrome browser and type in the search bar "Bitcoin to USD" and then press Enter. Today's bitcoin price will be up to you.