What is Bitcoin, How Does it Work and How to Earn Bitcoin in India: What is Bitcoin, how it works, where it is kept, you will have many questions in mind? Thanks to the Internet today, everyone’s life has become easier. We are able to do everything from getting rid of all kinds of information, doing shopping, booking tickets, etc. with the help of internet. Today it is possible to make money with the help of the internet.
There are so many ways that we can earn money from the internet just sitting at home. One of the ways in which Bitcoin can make us a lot of money. Some of you will have heard about Bitcoin and who know nothing about Bitcoin today they will know through this article. Yes, today I’m about to tell you what Bitcoin is about.
What is Bitcoin?
Bitcoin is a virtual currency. Like other currencies such as rupee, dollar, etc. Bitcoin is also a digital currency. It is very different from the other currencies because we can not see Bitcoin nor we can touch it like money. We can store Bitcoin only in the online wallet. Bitcoin invented Satoshi Nakamoto in 2009, and since then its popularity has been increasing. Bitcoin is a decentralized currency, which means that there is no bank or authority or government to control it, i.e. no one owns it. Anyone can use Bitcoin as if we use all the internet and there is no owner of it, just like Bitcoin is there.
Why is Bitcoin used?
Bitcoin can be used for online payment or any kind of transaction. Bitcoin works on peer to peer networks, which means that people can easily transact with each other without any bank, credit card or any company easily. Bitcoin is considered to be the fastest and efficient to use in transactions. Today, many people are adopting Bitcoin such as online developers, entrepreneurs, non-profit organizations, and due to this, bitcoin is being used worldwide for global payment.
As we do online transactions using the other currencies, we have to follow the bank’s payment process, then we can pay and every transaction we make is present in our bank account so that they can be traced Where and how much money has been spent, but Bitcoin does not have any boss, so the transactions done with him are recorded in a public accounting account which is called bitcoin “blockchain”. All transactions done with bitcoin are stored there and the same blockchain is the proof that the transaction was done or not.
How much is Bitcoin’s value?
Bitcoin’s value is about $ 999 today, meaning a Bitcoin’s value is 65,000. Its value continues to be more or less, because there is no authority to control it, therefore its value varies according to its demand.
What is a Bitcoin Wallet?
We can keep Bitcoin electronically only, and bitcoin wallet is required to keep it. There are many types of bitcoin wallets like desktop wallet, mobile wallet, online / web-based wallet, hardware wallet, using one of these wallets, we have to create an account in it. This wallet gives us a unique id in the form of the address as if you have got a bitcoin from anywhere and you have to store it in your account, then you will need that address there and with the help of that you have bitcoin can keep in a wallet. Apart from that, if you have to buy bitcoin or sell, then you need a bitcoin wallet and after that the bitcoin you sell, you can get the amount of money you get in your bank account through transfer bitcoin wallet.
How to Earn Bitcoins Fast?
We can earn Bitcoin in three ways-
- The first is that if you have the money you can buy a bitcoin by paying $ 999 directly. It is not that if you have to purchase a bitcoin, you will have to pay the full $ 999, if you want, buy Bitcoin’s smallest unit “Satoshi” too. Just like our 100 rupees in 1 rupee in India, there are 100 million Satoshi in 1 bitcoin, so if you want to buy bitcoin Satoshi the smallest and gradually can collect bitcoin 1 or more. When bitcoin is present and its price increases, then you can earn more money by selling it.
- Another way is that if you are selling any goods online and that bitcoin is present to the buyer, then you take bitcoin in return for the money, in such a way you will sell them also and you will also get bitcoin Which will be stored in your bitcoin wallet. If you wish, later you can get that bitcoin by selling it to the other person at a higher price.
- The third method is bitcoin mining. For this, we need a computer with a high-speed processor, which should also be good for hardware. We use bitcoin only for online payment, and when someone pays a bitcoin, that transaction is verified. Those who verify them, we are miners and those miners have high-performance computer and GPU and they verify the transactions through it. They verify that the transactions are correct or have not been made in any way. In return for this verification, they get some bitcoins as a reward and in this manner, they come in a new bitcoin market. Anyone can do this, it requires a computer with a high-speed processor, which is not in everyone’s budget.
Like in every country there is a limit to print currency in a year, you can print just so many notes in a year, in the same way with bitcoin there are also some limitations that more than 21 million can not come into the bitcoin market. That is, bitcoin’s limit is just 21 million, but bitcoin will never be found. Now talk about 13 million bitcoins in the market and those who are new bitcoin will now come through mining.
What are the Advantages used for using Bitcoin?
- Your transaction here is much less than the payment of fee credit card and debit card.
- Bitcoin can send you anywhere in the world and without any hassle.
- There is no account block of bitcoin here, sometimes for some reason, the bank blocks our credit or debit card, then the problem is not here.
- If you want to invest in bitcoin for the long term, you can get a lot of money from it because it has been seen in the record that the price of bitcoin which is growing is going on, meet.
- There is no government or authority in the Transaction Process of Bitcoin that does not look at you, so many people who use it for doing wrong work, it is a fiasco for them.
What are the Disadvantages of using Bitcoin?
- There is no authority, bank or government to control bitcoin here, due to which there is considerable fluctuation in the price of bitcoin, it becomes a bit risky.
- If your account ever gets hacked then you will lose all your bitcoins and cannot be brought back to it. No one will help you with this.
How to Buy Bitcoin (How to Earn Bitcoin in India)
You can buy bitcoin as soon as you buy gold, also in Indian currency. So let us know that there are websites from such angles from where we can buy Bitcoin easily, even in their own currency.
Here in these websites, you can easily see their price, in real-time.
Unocoin is a very friendly website that anyone can use. With this, you can easily purchase and sell bitcoin. There are many such features in Unocoin that make it different from others.
- Zero% fees – Unocoin customers do not charge any fees to accept bitcoin as a payment method.
- Simple Integration – You can easily integrate with your business Unocoin.
- 0% Volatility Risk – If Bitcoin has some fluctuation in price, then you can keep Bitcoin or even sell it immediately.
- No Chargebacks – If you are using Unocoin, you do not have to pay any chargeback.
- OTC Trading (Over the counter)
- Auto Sell Bitcoin
- NETKI – You can prepare your own Bitcoin address of which nobody can read
- 2 step Authentication for more security
How to buy Bitcoin
If you have to buy bitcoin then you can buy by visiting Unocoin’s website.
Zebpay is a very user-friendly website, so you can easily purchase bitcoin. Zebpay’s access is accompanied by a lot of vendors so that it provides more convenience.
- You can also fill top up in your mobile and DTH with the help of Bitcoin.
- You can buy a voucher for Amazon, Flipkart, and MakeMyTrip so that you can save up to 10%.
- Fastest way by which you can buy Bitcoin.
- It is also very safe too.
- The lowest price in the market.
- Using App, you can also buy from mobile.
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