What is Bitcoin, How to purchase Bitcoin,

What is Bitcoin, How to Buy the Bitcoin and became rich -

Who doesn't wanta to be rich? Everyone wants them to earn good money and earn it. Many people want to become rich people by doing a little work. We often get to hear about a currency bitcoin in ways to earn money online, but very few people know about it. What is Bitcoin and how to earn?  Many such questions arise which are related to this.

If you want to know the answer to such questions, then you are at the right place. Because in today's post, I will answer all these questions. I will give you information related to how to reduce this currency here. Apart from this, we will know how to buy and sell it. Friends, Internet is such a place from which we complete our countless work with great ease. Whether it is related to banking or shopping. 

You will know about the share market. This makes the whole economy run, no matter where the country is, people earn money by investing money. As the world is becoming digital, people have also started working online. Nowadays there are many ways to earn money from the Internet, one of which is investing in bitcoin. You may have heard the name of this currency and if I have not heard it, here I will share with you all the information related to this. What is bitcoin?

What is Bitcoin - 

Bitcoin is a cryptocurrency also called electronic cash. It is a kind of virtual or digital currency. We cannot see or touch this currency because it is not in physical form (note or coin). The currency that we use, like rupee, dollar, yen, all these currencies are also in physical form. This digital currency is just the opposite of regular currency. We cannot store it in our house or wallet. There are online digital wallets to store it.




It is a decentralized currency which means that it has no owner. Neither it is governed by any government or any authority. It has no administrator. It is open source, anyone can use it. You can convert this currency into your country's currency.

This currency was invented by Satoshi Nakamoto in 2009. It has strengthened its hold in the entire world in a very short time. Its popularity is increasing day by day. Companies in every part of the world like Dell, Expedia PayPal and Microsoft also accept this currency.

How does Bitcoin work - 

Using this currency, we can make online payment for any kind of service online. As I have already said that it is now used by big companies in every part of the world. So now let's understand how it works.

Bitcoin is based on a peer to peer network, and it works on that basis. This means that one user can send this digital currency directly to another user. There is no need for any medium in the middle. If you still do not understand, I will give you a simple example for this.

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You frequently do mobile recharge and online transaction. So it will be either using a bank account or using a mobile payment gateway. But you can send the currency directly to your friend without using any mediator.

It is being used as a global payment all over the world. It is becoming popular among people every day. Now, its payment option has also been enabled everywhere to buy any service online. That is, when you go to pay online, you will see the credit card, debit card, wallet, paytm in the payment option, in the same way there is also the option of BTC in many places.

It is an open source, then how does its transaction history know?
For this, it uses "Blockchain technology". Blockchain stores the records of every data exchange. Each record is stored as "ledger" and every transaction is stored as blocks inside the ledger.

What is Bitcoin wallet - 

You have known about BTC that it is a digital currency. Which we can store and keep online only. The online location used to store it is called Bitcoin Wallet. This wallet is a kind of software program. Every bitcoin address stored in a person's wallet has a private key (secret number).

To use this wallet, an account has to be created. On creating an account, a unique id is given which defines the address of the wallet. Where we can send and receive it. Now using this wallet, you can buy goods and services by paying as BTC. With this, you can transfer your money to your bank account by selling it. Wallets are mainly of 4 types Desktop, Mobile, Web and Hardware.

• What is satoshi - Satoshi speaks the smallest part of this currency. It is named after Satoshi Nakamoto why he invented this currency. 10 crores satoshi = 1 BTC. We speak bitcoin in short form only BTC. In this way you must have understood how many Satoshi are there in 1BTC. Also, they have also understood that satoshi is the smallest unit of this currency.

How to earn bitcoin -

For earning bitcoin there are many points in who you can earn bitcoin, here are some most and common types in which you can earn Bitcoin.

•  Take as the payout for your work by doing task - There are many websites online that pay you free BTC on completing the task. Often such websites give you BTC in small amount just to visit. There are some also other types of widrwaing.

• By accepting as original payment - From my point of view, the best and most easy way to earn bitcoin is to accept it as payment. If you are selling or giving service to someone and they have BTC payment method, then tell them that they pay BTC only. In this way, BTC will be stored in your wallet and its value will also increase. Also, you can also use it for making payments or you can earn money by selling it.

• Bitcoin Earn from Mining  - Bitcoin mining is a process in which new bitocoin are generated. Use high performance computers for mining. It adds bitcoin transaction to the blockchain. Blockchain is a public ledger where all bitcoin transactions are stored. In addition, it also searches for new blocks. A block is a file that contains the most recent transaction records. When your computer discovers a new block, you are given some BTC.

•  Buy & Sell Bitcoin - If I say that the easiest way to earn money from BTC is that you put the money yourself and buy it. After that leave it for some time. Its value keeps increasing in the market. When you find profitable, then sell at that price. It is just like buying and selling land.
  If you want, buy it in small amount unit i.e. satoshi. There are 10 crore satoshi in 1 BTC. Because now the price of this is very high, that is why it is better that you buy satoshi and wait for its price to increase.
  

 How to buy the Bitcoin -

Buying and selling bitcoins is not a difficult task. If you have ever made an online transaction or online payment, then you can buy it very easily. You can use the website and mobile app to buy and sell this currency in India.

There are 2 very popular companies in India to buy and sell this currency.

• Unocoin.com
• Zebpay.com

BTC can easily buy and sell from these two companies. Here I will tell you how to buy it? For this, you have to create an account and then you can buy it by following the steps

Create New Account -You can create a new account by going to either of the two mentioned above. This registration process is also similar to the regular registration process. Enter your mobile number and signup the account.

Upload document for KYC - After this, you have to upload your documents for KYC. For this, you have to select which document you want to upload for KYC. After uploading the Aadhaar card, PAN card or any other document, you submit. You will get a verification mail that your account has been activated.

Add your bank details for transaction - After the account becomes active, you can add your bank account details to make the payment. So that you can buy it sometime. For this, you will have to deposit money from your bank into this account, only then you will be able to buy BTC.

Now Buy and sell - Just like if you deposit your money from bank account in this new account, you can buy BTC anytime. After loading the money you can convert it to BTC. And then you can buy it with Buy Bitcoin.

Where to Sell bitcoin -

If you want to sell the product that you have purchased before, then you do not need to go anywhere else for this. From the website you bought it from, you can sell it very easily. There you will get the option of Sell Bitcoin with which you can sell it. After selling and withdrawing, you can deposit it in your bank account. Your money will be sent to your account within 2-3 days anytime.

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Conclusion - Friends, you must now understand what is bitcoin. This is one such way to earn money, which is not very popular in India right now, but in the future, if everyone becomes aware of it, then everyone will start taking interest in it to earn money.

In this post, you also learned how to earn bitcoin and how to buy it. You have also become aware of its benefits and what can be the harm.

I hope you enjoy this post. If you like this post, then definitely share it with your friends. Share this post in your Facebook, Twitter, to your friends and help this blog grow.