What is Bitcoin And how does Bitcoin works.

What is Bitcoin. How does bitcoin works. How to earn bitcoin cash. How to buy bitcoins. How to sell bitcoins and how to convert bitcoin to cash.

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Bitcoin which has no existence that no one can touch, which has no shape that no one has seen, this kind of currency has created a stir on the internet but even today it remains a mystery, today everyone knows its name. 

Is there any currency by doing bitcoin, but there is no proper information about it, people, that's why in today's article, all of you will know about Bitcoin in detail. If you are going to give, then read this post carefully.

What is Bitcoin ?

Bitcoin is a digital currency. By digital currency, we mean that there is really no one in it, no one can touch it nor see it electronically saved in your mobile, computer or media drive. 

The way the dollar moves and the rupee in India moves and you can touch them and so there is a size of the currency and the government controls the currency and the value of this currency decides our government. 

But if we talk about bitcoin, then it is not a digital currency. It is neither a note nor a coin and the value of bitcoin keeps on fluctuating all the time and bitcoin has no government or any foundation. Does not handle 

Bitcoin was first introduced to the concept of bitcoin by a person named satoshi Nakamoto in 2009 and till now this person is not known who it was

Now there must be a strong feeling in your mind that brother, is it bitcoin?

Suppose if I lift a stone from the forest, its price is 100rs, then no one will believe it and no one will buy it, and if a hundred people have said with me, therefore the price of the stone is 100rs, then everyone will really understand its value only 100rs. 

Likewise, satoshi nakamoto created a website on the internet called bitcoin.org and explained to the people in detail about bitcoin, what bitcoin is and how it works and the people read it and liked the concept.

Or when it went growing demand of buyers, and bitcoin's value basis means its value went up, based on demand

The smallest amount of bitcoin is known as satoshi, as the amount smaller than rupee is money, in the same way that the amount smaller than bitcoin is satoshi and in the same way that 1 rupee is equal to 100 paise, in the same way satoshi counts to 8 decimal. Meaning the smallest amount of bitcoin is 0.00000001 satoshi.

Just as our government prints a note in a limited amount, there is a fixed amount of bitcoin meaning that only 21 million bitcoins can be bought and sold.

What are the advantages of using Bitcoin?

One advantage of using bitcoin is that every transaction that we do in it is completely secret since it does not have any government control, so you can

transfer any amount of money in it secretly because of someone on bitcoin. There is no control, so we also know it by the name of decentralize currency and bitcoin is a peer to peer currency. It involves transcation with direct sender and receiver.

No hacker can hack Bitcoin (BTC). Because its database is public computers and any hacker will have to hack thousands of computers simultaneously to hack bitcoin.

If you do international transaction from one country to another, if you make 100$, then there is a charge of around 5$. And while you can do the same transaction within a few mints with a charge of just 1$. 

How does bitcoin work?

If we try to know the working process of bitcoin in more depth, then there will be a long article and you will not understand the working process of bitcoin for the first time, that is why you should short and sweet the working process of bitcoin with example. If I try to understand the way, then let us understand how bitcoin works in real.

What do all of us do in real, like if I have to buy something, then we give that person the value of that item in the same way as I have 1 bitcoin and assume that the price of a bitcoin is 2000$.

So what I will do is I will give bitcoin to any person and take the dollar or inr of the value of that bitcoin instead, so that person will get bitcoin and you get the right price for that bitcoin, and bitcoin Exchanges we through Blockchain.

Just like the price of 1 Paytm Cash is equal to 1rs and we can use our mobile no. To transfer money from one Paytm to another Paytm. We use blockchain wallet to provide bitcoin login in the same way and on this blockchain you are provided with an address to receive bitcoin called blockchain address.

How to make money with bitcoin?

In today's time, people of America and other developed countries have made trading and mining of bitcoin trading a means of coming into their lives. I know that there must be a strong feeling in your mind that what is this trading and what is mining, so let us know both.

Trading - 

The price of bitcoin keeps on decreasing all the time and when the price of bitcoin is low then these traders buy and save bitcoins and sell them when bitcoin price is high and this people sell through bitcoin trading Make money from.

Note: The price of bitcoin depends on its demand and supply. If the demand increases then the price of bitcoin also increases.

Mining - 

When a person makes a transaction through bitcoin in this world, that transaction has to be verified from at least 3 networks and on the other side many people have engaged their computer for bitcoin mining. Whichever computer gets this transaction verified.

He gets some bitcoins as rewards and this process is called bitcoin mining and people can earn money through mining in the same way.

Hope you have liked the information about bitcoin given by us, if you like, you can definitely share it with friends, and stay tuned for similar crypto currency, thank you with us!

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