What is Bitcoin and How can you Earn?
Hello friends how are you today I am back with a completely new type of post. Today's topic of discussion is What is Bitcoin, how it works, and where it is kept, you have many kinds of questions in your mind. Today's internet life has become very easy for all of us. From getting any information from morning to evening to recharge, shopping, ticket booking, etc. we can do everything with the help of the Internet. We can now do everything easily using this internet service.
Nowadays it is possible to earn money from home with the help of the Internet. We can earn much money from the Internet at home in many ways. Among all these ways, one way is Bitcoin, from which we can earn a lot of money.
Many of you must have heard about Bitcoin and those who don't know anything about Bitcoin, today will know complete details through this article. Today I will tell you in detail about what Bitcoin is. You should read the post carefully from the beginning to the end.
What is Bitcoin?
Bitcoin is a virtual currency in today's internet world. Like other currencies like Rupee, Dollar, etc., Bitcoin is also a digital currency. It is completely different from other currencies because we cannot see Bitcoin or touch it like money. We can only store bitcoins in online wallets.
Bitcoin was invented by Satoshi Nakamoto in 2009 and has grown in popularity ever since. Bitcoin is a decentralized currency, meaning that there is no bank authority, or government to control it, i.e. no one owns it. Anyone can use Bitcoin, just like we all use the internet and have no owner, of Bitcoin.
Why is Bitcoin used?
You can use Bitcoin to make online payments or make any type of transaction. Bitcoin works specifically on a peer-to-peer network, meaning that people can communicate directly with each other without a bank, credit card, or company.
You can transact very easily. Bitcoin is considered to be the fastest and most efficient to use in transactions. Nowadays many people like online developers, entrepreneurs, non-profit organizations, etc. are accepting Bitcoin and because of this Bitcoin is being used for global payments all over the world.
For example, when you transact online using other currencies, banks have to follow the payment process, only then you will be able to make the payment, and every transaction you make be present in your bank account so that it can be traced. It is possible to know where and how much money has been spent, but Bitcoin has no owner, so transactions made with it are recorded in a public ledger (account) called the Bitcoin "Blockchain". Details of all transactions made with Bitcoin are stored there and the same blockchain is the proof that the transaction was made or not.
How much is Bitcoin worth?
Today Bitcoin is worth approximately $999, which means that one Bitcoin is worth 65,000. Its value keeps rising or falling because there is no authority to control it, so its value keeps changing according to its demand.
What is Bitcoin Wallet?
You can only store Bitcoin electronically and a Bitcoin wallet is required to store it. There are many types of Bitcoin wallets such as desktop wallets, mobile wallets, online/web-based wallets, and hardware wallets and you need to create an account using one of these wallets.
Now this wallet provides you a unique ID in the form of an address, so suppose you have earned bitcoins from somewhere and now you want to store it in your account, then you need that address there and with that, you can transfer bitcoins. You can keep it in your account.
Besides, if you want to buy or sell bitcoins, you need a bitcoin wallet and after that, the money you get in exchange for the bitcoins you sell, you can transfer it to your bank account through the bitcoin wallet.
How to earn Bitcoin?
We can earn Bitcoin in three ways-
1. The first method is if you have money you can directly buy a bitcoin for $999. Not that you have to pay the full amount of $999 if you want to buy a Bitcoin, you can also buy “Satoshi”, the smallest unit of Bitcoin. As we have 100 Paisa in 1 Rupee in India, 1 Bitcoin has 10 Crore Satoshi, so if you want, you can gradually accumulate 1 or more Bitcoin by buying a small amount of Satoshi. When you have Bitcoin and its price goes up, you can sell it to make more money.
2. The second way is if you sell a product to someone online and if that buyer has bitcoins then you can take bitcoins from him in exchange for the product, in which case you will sell the product to him and you will also get bitcoins. Which will be stored in your Bitcoin wallet. You can later sell those bitcoins to someone else at a higher price and make a profit.
3. The third method is Bitcoin mining. For this, we need a high-speed processor computer with good hardware. We only use bitcoins to make online payments and when someone pays with bitcoins the transaction is verified. Those who verify these are called miners and those miners have high-performance computers and GPUs and they verify the transactions through it. They check whether the transactions are correct or not and if any kind of manipulation has been done. In exchange for this verification, they get some bitcoins as a reward and thus new people come to the bitcoin market.
Anyone can do it, it requires a computer with a high-speed processor, which not everyone can afford.
Just like every country has a limit on the amount of currency printed in a year that you can only print so many notes in a year, Bitcoin also has a limit that no more than 21 million Bitcoins can hit the market. That means the bitcoin limit is only 21 million, more bitcoins will never be available. As of right now, about 13 million bitcoins have hit the market and new bitcoins will now be mined.
What are the benefits of using Bitcoin?
1. When you transact on this platform you will find its fees are much lower than credit card and debit cards.
2. You can send it anywhere in the world in 1 click without any hassle.
3. Your Bitcoin account can never be blocked at any time. Your bank credit or debit card gets blocked but your Bitcoin account doesn't.
4. If you want to invest in Bitcoin for the long term, then you can get a lot of benefits from it because it has been shown on the record that the price of Bitcoin is rising, so you can get a lot of benefits from it in the future.
5. No government or authority is monitoring you for Bitcoin transactions, so many people use it to do wrong, so it is very beneficial for them. Like hackers or those who want to make black money white.
What are the disadvantages of using Bitcoin?
1. There is no authority, bank, or government to regulate Bitcoin, so because of this the price of Bitcoin fluctuates a lot, so it becomes somewhat risky.
2. If your account ever gets hacked you lose all your bitcoins and it can't be recovered and no one can help you with it. All these problems are abundant in this platform.
How to buy Bitcoins in India
Just like you can buy gold, you can also buy bitcoins, again in Indian currency. So let's find out from which websites in India you can easily buy bitcoins using your own country's currency.
On these websites, you can easily see their current price in real-time.
1. Unocoin
2. ZebPay
1. Unocoin
Unocoin is a very user-friendly website that anyone can use. With this, you can easily buy and sell bitcoins. Unocoin has many features that make it different from others.
Features:
1. Zero% Fees – Unocoin does not charge any fees for customers to accept Bitcoin as a payment method.
2. Easy Integration – You can easily integrate your business with Unocoin.
3. 0% Volatility Risk – If there is some fluctuation in Bitcoin price, you can keep Bitcoin or sell it immediately.
4. No Chargebacks – If you use Unocoin you don't have to pay any charges back.
5. OTC Trading (Over the Counter)
6. Auto Sell Bitcoin
7. Netki – You can create your own Bitcoin address that anyone can read.
8. 2-step authentication for more security
How to buy
If you want to buy Bitcoin, you can visit the Unocoin website and buy it.
Note: – If you ask for a referral code, use "_____" so that you can easily get Rs.200/- Bitcoins.
2. ZebPay
Very user-friendly websites like Zebpay and Uncoin from where you can easily buy Bitcoins. Zebpay has access to many vendors so it offers more benefits.
Features:
1. You can top up your mobile and DTH with Bitcoin.
2. You can buy vouchers from Amazon, Flipkart, and MakeMyTrip so you can save up to 10%.
3. Fastest way by which you can buy Bitcoins.
4. It is very safe.
5. Lowest price in the market.
6. You can also buy from mobile using the app.
How to buy
If you want to buy Bitcoin then you can go to Zebpay's Android Application and buy it.
Note:- If you ask referral code then definitely use "______" so that you can easily get Rs.100/- worth of bitcoins.
Guys how did you feel about reading the post in full - hope you liked it. This is the information about Bitcoin, hope you understand What is Bitcoin, how to get it and what are its advantages and disadvantages. If you know anything else about Bitcoin, please share it with us through comments. Stay well stay healthy.
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