What is Bitcoin? | What is cryptocurrency? | Bitcoin full information | Cryptocurrency full information | Bitcoin cryptocurrency

Bitcoin is a digital currency that works completely free, it is not controlled by any central authority.  A currency that is completely virtual. You can also think of it as the online version of cash which is not controlled by anyone.

Since Bitcoin is a decentralized digital cash, all its transactions are done using a peer-to-peer computer network, that is, all the purchases here are done by the confirmed users.  At the same time, there is no interference of any bank or government here at all.

Nowadays it has become possible to earn money with the help of internet.  There are many ways by which we can earn money from internet sitting at home.  One of those ways is Bitcoin, due to which we can earn a lot of money.

Some of you must have heard about Bitcoin and those who do not know anything about Bitcoin, today they will come to know through this article.  Yes, today I am going to tell you about what is bitcoin.

What is bitcoin:                                    

Bitcoin is a decentralized currency, which means that it is not tied to any specific country or currency.  It is a currency built on top of blockchain technology, which means that transactions made with bitcoin are publicly and chronologically stored on the blockchain.  This means that anyone can see all the transactions done so far.

Bitcoin was introduced in 2009 by an individual or group named Satoshi Nakamoto.  Bitcoin was meant to be a way to create a digital version of cash where payments could be made from person to person without having to go through a financial institution or other middleman who might charge a fee for this type of payment and  Can slow down the process time.

Anyone can use bitcoin as we all use the internet and there is no owner of it, in the same way bitcoin is also there.

Why is bitcoin used?

We can use bitcoin to make online payment or to do any kind of transactions.  Bitcoin works on peer to peer network based which means that people can easily transact with each other directly without any bank, credit card or through any company.

Bitcoin is considered to be the fastest and most efficient to use in transactions.  Nowadays many people are adopting bitcoin like online developers, entrepreneurs, non-profit organizations etc. And because of this bitcoin is being used for global payment all over the world.

Like we do online transactions using other currencies, then we have to follow the payment process of banks, only then we are able to make payment and the account of every transaction done by us is present in our bank account so that it can be detected.  Where and how much money has been spent, but there is no owner of bitcoin, so the transactions done with it are recorded in a public ledger (account) which is called bitcoin "blockchain".

There, all the transaction details done with bitcoin are stored and the same blockchain is the proof of whether the transaction has taken place or not.

What is a bitcoin wallet?

We can only store bitcoin electronically and a bitcoin wallet is needed to keep it.  There are many types of bitcoin wallets such as desktop wallet, mobile wallet, online / web-based wallet, hardware wallet, using one of these wallets, we have to create an account in it.

This wallet gives us a unique id in the form of an address, as if you have earned bitcoin from somewhere and you have to store it in your account, then you will need that address there and with the help of that, you can transfer bitcoin to your account.  Can keep in wallet.

Apart from that, if you want to buy or sell bitcoin, then you need a bitcoin wallet and after that all the money you get in exchange for the bitcoin you sell, you can also get it transferred to your bank account through bitcoin wallet.