Hello friends, as you are seeing nowadays, how much people depend on internet nowadays. Nowadays people are earning a lot of money through the internet, of which there are many ways, one of them is by bitcoin.

Nowadays bitcoin is in vogue and many of you must have heard its name as well, in today's article we will learn about bitcoin.

What is bitcoin?, What are its advantages?, How Bitcoin Works?, How to Make Money with Bitcoin?, What is Bitcoin Mining?, Bitcoin Facts. An attempt has been made to answer all these questions through this post. At present, the value of 1 Bitcoin in India is about 2,42,392.76 Indian Rupee (as of 29 Jan 2019).

Bitcoin, bitcoin mining, you me and i.t

What is Bitcoin?

Bitcoin is a virtual currency, if you have bitcoin, you cannot physically buy it from it in the form of notes or coins. Bitcoin is used for online electronic purchases and transfers. You can use your bitcoins for your friends or merchants. There is a digital login immediately (on the computer) on every purchase of bitcoin and the transfer log is also updated with the exchange. This lets us all know who owns how many bitcoins. Bitcoin is a digital Assets and a payment processing currency started by Satoshi Nakamoto in the year 2008 and released in 2009 in Open Sourses Software.

This digital transfer log of Bitcoin is known as 'Block-Chain'. The popularity of bitcoin is increasing very fast today. No matter how hard people try to make a bitcoin, you have to make some points every hour, only then your bitcoin increases. Which is 1 bitcoin a day and then you get paid. Now even in business, bitcoin has come in very fast trend. Its trend is also catching up fast in India. In the early times, this business liked the bookies very much because they started showing ways to earn money in it. Bitcoin


How Bitcoin Works?

1 Bitcoin is made by adding 100000000 (1 crore) . You can buy, trade bitcoins, mine bitcoins, buy bitcoins in exchange for something, or you can sell bitcoins if you want. You can place your bitcoins in your online bitcoin wallet. You can keep not only bitcoin but all other cryptocurrencies in your online wallet.

You can buy goods from bitcoins on shopping websites which have bitcoin transaction facilities. Or you can sell any of your own goods in exchange for bitcoin.

It all works on a blockchain network in which the miner has to solve Bitcoin Blocks. A block is given 10 minutes to solve and 2,16,000 blocks take about 4 years to solve.

Bitcoin works by 3 people. The first person buys bitcoin and the second person sends bitcoin and the third person is the one who completes the transaction of those first two persons through bitcoin mining by bitcoin mining.


What is Bitcoin Mining?

Bitcoin Mining, Bitcoin, you me and i.t
People all over the world send bitcoins to each other which is completed through a transaction. But this online transaction is not completed on its own as in a normal bank transaction. These incomplete transactions are called blocks. Transactions of bitcoin or cryptocurrency are completed when another user solves these blocks by mining bitcoins.

When a user mine bitcoins with the help of his computer and hardware equipment such as Bitcoin Miner, the transactions of bitcoins are completed. In this, the person who does bitcoin receives some cryptocurrency to complete the transaction that he gets from his Bitcoin Mining Pool's server on his Bitcoin Wallet.


How to Make Money with Bitcoin?

Today, there are millions of online uses who are making money through bitcoins. There are many ways to earn money online with the help of bitcoins such as -

01 | Bitcoin Trading

Bitcoin trading works almost like the stock market. In this, you have to buy bitcoins from a company providing bitcoins and you can keep them on your bitcoin wallet just like a stock. When the price of bitcoin increases, you can sell it if you want.


02 | Bitcoin Mining

You can do bitcoin mining in two ways:-
  • Bitcoin Cloud Mining
  • Bitcoin Hardware Mining

A | Bitcoin Cloud Mining

There are many websites on the Internet that facilitate cloud mining. You can get bitcoins mined by investing some money on those websites. On those websites you get the speeds of MH / s, GH / s, TH / s which mine bitcoins and after mine, bitcoins are deposited in your online wallet.


B | Bitcoin Hardware Mining

It is called hardware mining because you need hardware to do bitcoin mining, which we call bitcoin minor. For this you have to buy bitcoin minor which you can mine bitcoin by connecting you with bitcoin mining pool. If you have some money to invest, then buying Bitcoin Minor can be beneficial for you because you can earn millions of rupees from home.

Bitcoin, bitcoin mining, You Me and I.T


What are its advantages?

  • The benefits of Bitcoin are many. If you have created 1 bitcoin, you can get at least $ 3400.
  • By doing bitcoin business, you can earn at least 60 to 70 thousand rupees sitting at home in a month.
  • It takes a lot of hard work to earn money from bitcoin, but when you get money, it also brings joy.
  • Its importance does not work with gold.
  • It fluctuates like other currencies.


Bitcoin Facts

  • Bitcoin is limited, which means that only 21 million (2,10,00,000) bitcoins exist in the whole world. The faster people generate bitcoins, the faster bitcoin mining will grow in difficulty (Bitcoin Difficulty).
  • Bitcoin has been created in such a way that as soon as you mine bitcoin, bitcoin mining will end in the year 2140.
  • When a person performs a transaction of bitcoin, that transaction is connected to the blockchain network. This transaction is verified by bitcoin mining.
  • The Hashing Power of Bitcoin or Calculating Power depends on the uptake of bitcoin mining.

Conclusion

Through this article of today, we went into detail about Bitcoin. Hope you understand what is Bitcoin, What is bitcoin mining and how Bitcoin work?. This article of  complete information must have been helpful for you.

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