What is BitCoin in ENGLISH - Hello guys how are you, hope you are fine. Friends, currency is used in every country of the world which is used to buy goods. Every country's currency is different and its own name and value are also kept according to the country. For example, the currency that is used for transactions in India is called Rupee. In the US, the currency is in Dollar and in UK the currency is in pound, in the same way, the currency of different country is different, similarly in the Internet there is also a currency that is used for online transactions. Is BitCoin you must have heard about it because bitcoin has been very much discussed in the last several years, in this video also today we are going to tell you about bitcoin, what it is, how it is used and why. Goes and how much is the value of this currency, you must read this post till the end to get complete information about BitCoin.
What is BitCoin?
Bitcoin is a Virtual Currency and can also be called Digital Currency as it is used digitally. BitCoin is called a virtual currency because it is completely different from the rest of the currency. Because we cannot see it like the rest of the currency like Rupee or Dollar, nor can we touch it with money, but still we use it in transactions like money. We can only call BitCoin as an online Wallet store.
BitCoin - was invented by Satoshi Nakamoto in 2008 and was released as a global payment in 2009 and has been growing in popularity ever since. Bitcoin is a decentralized currency. This means that there is no bank or government authority to control it, that is, no one owns it. Anyone can use bitcoin like we all use the internet and so does anyone. The owner is not the same as in bitcoin. Anyone who has bitcoin can not physically buy things, rather, bitcoin can be used online. Apart from online payment, it can also be converted into other currency. If you have bitcoin, you can convert it to your country's currency and transfer it to the bank account. Bitcoin has become the most expensive currency in the world. Through the computer network, this currency can be transacted without any means while the digital currency can be kept in a digital wallet.
BitCoin is also called Cryptocurrency and Bitcoin can be spent easily like ordinary currency, you can use it to donate to some NGOs to buy goods or to someone else. Can also be used for sending. Bitcoin cannot be controlled by any entity which means that the government or bank has no authority over it, it can be used or purchased by anyone because the trading of bitcoins cannot be stopped, so no one The bank or government institution cannot stop you from sending your bitcoins to anyone else through the internet but there is a dilemma that if you are cheated, you cannot file a complaint about it with anyone, yet around the world. Big businessmen and many big companies use this currency.
Where and why is BitCoin used?
The bitcoin that we can use to make online payments or to do any kind of transaction is based on the coin p2p network which means that people directly interact with each other without any bank credit card or any other Transactions can be done easily through the company. If you pay about 2 to 3% fee by paying with debit or credit card but there is nothing like this in bitcoin, there is no extra charge in its transaction, due to this it is also becoming popular, apart from this it is safe and Fast that makes people excited to accept bitcoin.
Nowadays many people are adopting bitcoin like online developer, entrepreneur and non-profit organization etc. And this is the reason why bitcoin is being used for global payment all over the world, like any other credit card. There is no limit. There is no problem of moving with cash. It is absolutely safe and fast and it is effective anywhere in the world and there is no limit to its use.
What is the value of BitCoin?
The value of bitcoin keeps increasing more or less as there is no authority to control it, so its value varies according to its demand, its price varies in every country because its phase is in the world market Therefore it is priced according to its demand in every country
How to buy BitCoin and where to buy it?
There must be a question somewhere in your mind that what can be done for how bitcoin can be found so that if you get bitcoin, then we also tell you the answer to bitcoin in 2 ways. Can be found.
1. If you have money, then you can buy bitcoins by paying directly, if you do not have that much money but still you have to take bitcoins, then there is a way if you do not buy the whole bitcoin. If you can, you can buy its smallest unit like 100 rupees in one rupee, in the same way there are 10 crores satoshi in one bitcoin, then you can buy small amount of bitcoin satoshi slowly one or more bitcoin You can make deposits when you have more bitcoins deposited, then you can earn more money by selling it, by buying bitcoins in a way, you can invest in it. There is a very famous bitcoin website in India from where you can buy and sell bitcoins. The name of those websites is zebpay.com and unocoin.com. You can buy bitcoins from both these websites. To buy bitcoin, you have to create your account in one of these websites, after which you will also have to submit some of your documents like Aadhar card, PAN card, Voter ID, phone number, email and bank account details etc. After creating an account you can buy and sell bitcoins.
2. Bitcoin mining In the common language, mining means mining of minerals such as gold, coal etc. by mining because bitcoin has no physical form, so it cannot be mined. This is why mining here means creating bitcoins, which is possible only on computers, that is, ways to create new bitcoins are called bitcoin mining. Bitcoin mining makes bitcoin minus the need for high speed processor and computer and mining software It is only we use bitcoins for making online payments and when someone pays with bitcoins, the transition is verified which verifies them, we are called miners and those miners have a higher performance computer and better There is hardware through which they verify the transaction. Minors complete transactions in various ways using special types of computers and secure the network. In exchange for this verification they receive some bitcoins as reward and in this way new bitcoins come in the market but to verify the transition so much It is not easy, it has a lot of mathematical calculations, it has to be solved because it is very difficult. Bitcoin mining can be done by anyone. It requires a computer with high speed prosessor. Mining is done by people who have special calculating computers and the ability to do big calculations.
Is it illegal to use BitCoin?
In India, the Reserve Bank of India is preventing people from investing in this currency and already any type of investment in it has been declared illegal but still people are investing in large numbers in it. The Reserve Bank of India on December 24, 2013 In relation to virtual currency like Bitcoin, it was said that no official permission has been given to the transactions of these currencies and there is a lot of risk in the transaction. On 1 February 2017 and 5 December 2017, the Reserve Bank issued caution to them about this.
Friends, I hope that you have got all the information about what is Bitcoin from this post, how it is used and how much its value is, I always keep trying that through our post you will get the complete Get information so that you do not have to go anywhere else. Thank you!
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