Now a day bitcoin is a booming topic in online market place. Many entrepreneur invest in bitcoin for current and futures profit. So lets get information about what is bitcoin? How it works? How to earn?
What is bitcoin?
Bitcoin is a digital currency also known as cryptocurrency or virtual currency. Bitcoin is invented by Satoshi Nakamota in 2009. We can use bitcoin only by internet. We do not touch bitcoin like any other currency like USD, RUPEE, EURO. We can only store it by digital form. Their is so any government control over bitcoin means any company or country control it.
Bitcoin is a open source network. It work as peer to peer network means it directly transfer from one source to another, their is no bank, credit card, debit card required to transfer or receive bitcoin. To receive or transfer bitcoin we have to create first bitcoin wallet to store bitcoin i.e Blockchain, Coinbase, Coinpayment.
How to use bitcoin and its works?
When we buy any product from store we give payment in the form of cash, or by debit card or credit card. Similarly we give payment by using bitcoin. But bitcoin uses only online transaction. You can use it transfer or receive for online shopping, for sell your product or service.
Bitcoin price will be change according to trading similarly stock market. To send or receive bitcoin you have to need bitcoin wallet.
The value of bitcoin at present time is 1948.43 USD (125761.41 INR). In future days it goes high, so it is beneficial now to invest in bitcoin.
How to earn bitcoin?
Their are many methods to earn bitcoin but in here we discuss 4 simple and effective ways to earn it.
By investment- In this first purchase the bitcoin from any site and store it into bitcoin wallet and it price become high sell it. This is the simplest method to earn it. But bitcoin price get high or low like stock market.
Bitcoin mining- It is the process where some user verify the transaction, they need to solve some mathematical equation for this they required powerful computer when they solve this equation they get reward for that, this is bitcoin mining.
Website- We can also earn free bitcoin by doing simple works. Their is lots of website for that and they get rewarded for that i.e freebitco.in, btcclick.
Service- You can sell your service or product online and accept payment by bitcoin. And when bitcoin price become high sell it. This the simple way ti earn bitcoin.
Hope you understand now what is bitcoin and its uses, its earning ways all type of information. If you have any doubt about this feel free to comment.