What is Bitcoin? How does it work? How to make money?

Bitcoin is a relatively new concept that will leave you with any questions about what it is and how it works. The internet has made everyone’s lives easier since the invention of the Internet. With the help of the internet, we can get all kinds of information, shop online, book tickets, and so on. What is Bitcoin how does it work and how to make money.

With the help of the internet, we can earn money nowadays. Online earning is becoming increasingly popular. Making a lot of money with Bitcoin is one of those ways.

This article will reveal everything you need to know about Bitcoin to anyone who has heard of it but has no idea what it is. I will explain Bitcoin to you today.

What is Bitcoin – What is Bitcoin in Bengali

Bitcoin is a virtual currency. Bitcoins are also digital currencies, just like rupees, dollars, and so forth. It’s far completely exceptional from other currencies because we cannot see or contact bitcoin like cash.

We will simplest store Bitcoin in a web pocket. Bitcoin was invented by way of Satoshi Nakamoto in 2009 and has been growing in popularity ever because. Bitcoin is decentralized forex, which means there may be no financial institution authority or government to control it, which means no person owns it.

All people can use Bitcoin as all of us use the internet and don’t have any proprietor, so does Bitcoin.

Why is Bitcoin used?

We will use Bitcoin to make online bills or make any type of transaction. Bitcoin works on a peer-to-peer network foundation. Because of this, human beings can easily transact with each other at once through any financial institution, credit score card, or any enterprise.

Bitcoin is considered to be the fastest and most green to use in transactions. Many online builders, marketers, non-earnings businesses, and so forth. Are actually accepting Bitcoin and because of this Bitcoin is getting used for worldwide bills all over the globe.

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As we transact online the usage of other currencies, we need to observe the financial institution’s price procedure. Then we are able to be able to make the payment and the account of every transaction we make is present in our financial institution account so that it may be traced. In which and what sort of money has been spent, but no one owns Bitcoin. So transactions with it are recorded in a public ledger (account) called Bitcoin “blockchain”.

There, info of all transactions made with Bitcoin is saved and proof of whether or not the equal blockchain transaction has taken vicinity.

Today’s rate of Bitcoin

Bitcoin is really worth about, 11,855 these days, because of this a bitcoin is really worth, 8,85,000. Its value has a tendency to be extra or less as it has no authority to manipulate, so its fee varies in keeping with calls for.

What is a Bitcoin wallet?

We are able to only shop bitcoin electronically and we need a bitcoin wallet to keep it. There are many types of Bitcoin wallets such as desktop wallets, mobile wallets. Online / web-based wallets, hardware wallets, using one of these wallets, we need to create an account in it.

This wallet gives us a unique ID in the form of an address, such as if you earned Bitcoin from somewhere. You need to save it in your account, then you will need that address there. You can transfer Bitcoin to your account. You can keep it in your wallet.

In addition, if you want to buy or sell bitcoin, you need a bitcoin wallet, and after that. You can transfer the money you receive in exchange for the bitcoin you sell, to your bank account via bitcoin wallet.

How to earn bitcoin?

We can earn bitcoin in three ways. Here we have given complete information on how to create a bitcoin account.

1. The first way is if you have money, you can buy a bitcoin directly by paying 999. Not only that, if you want to buy Bitcoin, you have to pay the full $ 999, you can buy the smallest unit of Bitcoin “Satoshi” if you want.

Just as we have 100 paise for 1 rupee in India, there are 100 million satoshis in 1 bitcoin. So if you want, you can buy a small amount of bitcoin satoshi and gradually deposit 1 or more bitcoins. When you have Bitcoin and its price goes up, you can make more money by selling it.

2. Another way is that if you sell a product to someone online and if that buyer has Bitcoin, you will buy Bitcoin for money. In that case, you will sell those products to them and you will also get Bitcoin which will be stored in your Bitcoin wallet.

If you want, you can make a profit by selling that bitcoin to another person at a higher price.

3. The third way is bitcoin mining. For this, we will need a computer with a high-speed processor whose hardware should also be good. We only use Bitcoin for online payments and when someone pays with Bitcoin the transaction is verified.

Those who verify them, we call them mines and those mines have high-performance computers. GPUs and they verify transactions through them. They verify that the transaction is correct or that there has been any manipulation. Instead of this verification, they get some bitcoin as a reward, and thus new bitcoin comes on the market.

Anyone can do it, it requires a computer with a high-speed processor, which is not in everyone’s budget to buy.

Each country has a limit of one currency per year that you can print so many notes per year, similarly. Bitcoin has some limitations and no more than 21 million bitcoins can enter the market. That is, the bitcoin limit is only 21 million, more than that bitcoin will never be found.

Speaking of which, about 13 million bitcoins have come into the market and new bitcoins will now come through mining.

What are the benefits of using Bitcoin?

1. Your transaction fees here are much lower than paying by credit card and debit card.

2. You can send Bitcoin anywhere in the world and anytime without any hassle.

3. There is no Bitcoin account block here, as sometimes the bank blocks our credit or debit card for some reason, then that problem does not occur here.

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5. If the Bitcoin transaction process is not monitored by any government or authority. Then there are many people who use it in the wrong way, then it is beneficial for them.

What are the disadvantages of using Bitcoin?

1. There is no authority, bank, or government to control Bitcoin, so for this reason, the price of Bitcoin fluctuates a lot, then it becomes a bit risky.

2. If your account is ever hacked you will lose all your bitcoin and it will not be returned, no one will be able to help you.

How to buy bitcoin?

You can buy bitcoin like gold, also in Indian currency. So let us know that there are websites in India from where we can easily buy bitcoin, also in our own currency.

Here on these websites, you can easily see their fair price, also in real-time. If you need detailed information on how to buy Bitcoin, read here.

1. Wazirx

2. Unocoin

3. Jebpe

1. Wazirx

Wajirox is currently the most preferred and most widely used cryptocurrency exchange in India. With this, anyone can easily buy and sell cryptocurrencies. At the same time, its UI is very nice and intuitive to use. At the same time, you will see many new features in it.

Features:

1. Accessible across platforms – You can access the WazirX Trading Platform on many different platforms. Be it web, Android smartphone, Apple iOS mobile, Windows, and Mac system.
2. Cryptocurrency Range – This allows you to trade around 100+ cryptocurrencies with USDT. USDT is actually a Tether USD currency supported by 1: 1 USD.
3. Speed ​​Transactions – Their platform is very stable and has the capability to easily handle billions of rupees in transactions.

How to buy?

If you want to buy Bitcoin or any other cryptocurrency, you can do so by visiting the WizRix website.

Note: – If you want a referral code, you must use “x62d4j95”.

2. Unocoin

Unocoin is a very friendly website that anyone can use. This will allow you to easily buy and sell Bitcoin. Unocoin has many features that set it apart from others.

Capabilities:

1. zero% price – Unocoin customers do now not fee a price for accepting Bitcoin as a payment technique

2. easy Merger – you may without problems integrate your commercial enterprise with Unocoin.

3. zero% threat of volatility – If the price of Bitcoin fluctuates, you could maintain Bitcoin or you can promote it immediately.

four. No chargeback – in case you use Unocoin you will no longer pay back any fees.

5. OTC buying and selling (Counter Over)

6. Bitcoin auto Sale

7. Netki – you may create your very own bitcoin deal with that everybody can examine

eight. 2 step authentication for extra protection

How to buy

In case you need to buy Bitcoin, you can do so with the aid of visiting Unicoin’s internet site.

Observe: if you want a referral code, make sure to use “U-124697” so that you can without difficulty get Rs. two hundred / – bitcoin.

3. ZebPay

Zebpay is a completely user-friendly internet site from which you could effortlessly buy bitcoin. Zebpay has to get entry to many providers so it gives greater advantages.

Features:

1. you could additionally fill up top-up in your cellular and DTH with Bitcoin.

2. you may purchase vouchers from Amazon, Flipkart, and MakeMyTrip so that you can store up to 10%.

three. In the quickest manner, you can purchase Bitcoin.

4. it’s miles very safe.

5. the lowest rate in the market.

6. you can additionally purchase from cellular the use of the app.

How to shop for

in case you want to buy Bitcoin, you may buy it by way of going to JebPay’s Android utility.

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