What is Bitcoin Complete information about bitcoin

What is Bitcoin?

 Know the complete information of bitcoin - Bitcoin is a digital currency, which we can also call Internet Currency in the common language. We cannot store this currency in our house or our Wallet because it is not any kind of note or any coin. Therefore, you can use bitcoin-only online. Bitcoin is in a Decentralized way means there is no Authority, Government or any bank to control this currency

It works on Peer To Peer Network Base. And bitcoin users believe that it is a currency. In this way, it has become a Global Currency. Bitcoin was invented by Santoshi Nakomoto in the year 2009 and since then it has become quite popular currency.

How much does bitcoin cost

If we talk about the value of bitcoin, then the value of 1 bitcoin in today's date (January 2020) is about 1222211.11 Pakistan Currency. It is not that if you want to buy Bitcoin, then you have to buy 1 Bitcoin only. Actually, the smallest unit of bitcoin is Santoshi and 1 bitcoin = 10,00,00,000 (crore) is Santoshi.

Just like in Pakistan currency there are 1 rupee = 100 Paisa. A bitcoin is made from 10 core Santoshi in the same way. That means you can break 1 bitcoin up to 8 decimals. You can also use 0.0001 Bitcoin.

Bitcoin Wallet

If we cannot keep it in our house or pocket wallet, then we can store bitcoin. So to store it, you need a Bitcoin Wallet. A lot of applications on the Internet. Software. And there is a cloud-based Wallet in which you can store bitcoins by creating an account.

 how does Bitcoin Wallet work?

 So the first thing it provides you a Uniq Address. Suppose you have bought Bitcoin from somewhere, then you will need an address to order it. In such a situation, you can store and store bitcoins in your Wallet. Just like you have sold bitcoin and earned a few rupees from it, you will need a Bitcoin Wallet to transfer those rupees to the bank.

How to buy bitcoin

1. There are many ways to buy bitcoins like
2. You can buy bitcoins from your Local Currency.
3. You can take bitcoin in exchange for something from a service or by selling or selling something.
4. Apart from this, you can Earn Bitcoin with the help of any website or application.

So the most important thing you can do is Bitcoin Miner.

What is Bitcoin Miner

Before we learn about mining, let us tell you that there is a limit for printing notes in every country, similarly, there is a limit for making bitcoins. And Limitation is that there cannot be more than 21 million bitcoins in the market and as of now, there is about 13 million bitcoin in the market. So there are new bitcoins that come through Mining.

What is Bitcoin Mining? 

Suppose you have sent some bitcoins to someone. So Verify this process of sending and those who are verifying are called Miners. Those who have a High Power Computer. And Verify Bitcoin Transaction from these computers.

What do Miners Verify?

 When we take bitcoins from someone, there is no cheating or cheating on it. On Verify, they get new bitcoins as a reward. So in this way, new bitcoins come on the market. If you have a heavy computer, then you can also do mine.

What are the benefits of bitcoin

1. It costs less to exchange bitcoins
2. .You can sell or buy bitcoins anywhere in the world. That too without any problem.
3. You can make long term investment in it because bitcoin is increasing in the record so far.
4. The government does not monitor you in bitcoins.

 So due to the lack of any government in Bitcoin, some people also use it wrongly, such as in black money or in Drugs Baghera. There are some advantages of bitcoin and some disadvantages as well.

What are the disadvantages of bitcoin

1. There is no Control Authority, Bank, or any Government in this, due to which it keeps on decreasing its value.
2. If your Bitcoin Account gets hacked then you cannot take Bitcoin Pups' and the Government will not help you in any way.

Now you must know what Bitcoin is. How can we buy it from where else? And what do we gain from bitcoin and what can be the loss of bitcoin

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