what is bitcoin ,how is it works to earn money or spend and sell it ? What is cryptocurrency?

ALL you know that technology has been changed so many things like physical things into digitalized it gets many changes in so many things.

Digitalization of money

in this generation, money has been changed physically into digital. it is the biggest change in the money transaction before the money digitalization money has been given to others hand by hand . after digitalization giving money hand by hand has been decreased up to 92% only 8% has been using as the physical money. other 92% have been using the internet as UPI payment,

money transfers online. every payment was paid with digital money.

  in this manner bitcoin also a digital currency that we can't touch and can't see they are fully digital not physical.

 in the process of bitcoin transaction bitcoin, miners have to solve the hardest mathematical block. solving the hardest maths problems which can be solved by the high requirement pc with so many high computer servers are required. these are so many blocks that have to solve and complete the transaction successfully so have to use the high CPU pool in their working stations. after solving the maths block they have to generate the block into the blockchain(ledger network) which is a safe and secure chain. it can handle by the bitcoin miners and all transactions are saved in the blockchain. it means every transaction of bitcoin can see in the blockchain. bitcoin miner pc is updated very well. so blockchain is a safe network. which hackers cannot hack or change mathematical blocks. we can hack a single pc but we can't hack the blockchain pc. so this all process is called bitcoin mining.

        by reading the up para you understand how the miner works to run the transaction process safely.

now let's talk about how users receive their bitcoin into their account.so A bitcoin directly transacted between users it is called peer to peer network. this is all possible through blockchain technology. Bitcoin introduced blockchain technology to allow users to send and receive bitcoin without using a third party and you don't need to reveal your identity to transact the payments.no one can't see who is transacting the bitcoin and who is receiving.

what bitcoin miners get by doing this work?

By doing this process automatically system creates a new extra bitcoin to give the appreciation of their work. that can be used by bitcoin miners. by adding each block to the blockchain they get 12.5 bitcoins. but we can't say the same quantity of bitcoins can be given to miners the quantity can decrease also. 

*This is how bitcoins are made by miners. mining is the most important process to produce a bitcoin.

*miners use the bitcoin for themself by selling them or exchange. These bitcoins are only we are using now. that means how money is running around us.

How many bitcoins can be produced by miners over all.

According to Satoshi Nakamoto who releases the concept of bitcoin he said that bitcoins can be produced by computers but one thing is the limit of the number of bitcoins that can be produced. that means overall the global only 21 million bitcoins only can be produced. not more than 21 million .because the mining system didn't support you to produce more than 21 million bitcoins. because satoshi programmed the bitcoin system as a limit of bitcoins can be produced. anyone can't produce more than 21 million.

Have you heard about crytpography?

the prefix crypto stands for "cryptography" which is a technology that keeps information safe and hidden from attackers. you may have heard of cryptography in history class-it was used to send and receive secret messages by allied forces in world war. 

so this is why we called bitcoin cryptocurrency because it is a safe and hidden technology that we are using as a digital currency.

Types of cryptocurrencies

the three main types of cryptocurrencies

1) Bitcoin                                                                                     

2)Altcoins  

3)Token (for dApps)

the top cryptocurrencies

1)Bitcoin

2)Ethereum

3)Ripple

4)Litecoin

these are only the top and most usable in cryptocurrency and the other are 4000 types of cryptocurrencies are there. that is there to use. but most people bitcoin,ethereum, ripple,litecoin.

how bitcoin cryptocurrency cost increases and decreases?

Durability is a major issue for fiat currencies in their physical form. A dollar bill, while the sturdy, can still be torn, burned, or otherwise rendered unusable. Digital forms of payment are not susceptible to these physical harms in the same way. For this reason, bitcoin is tremendously valuable.

*which means a bitcoin gets more value by digitalization. each bitcoin can make millions of money and it is safe in the accounts and crypto securities much better than banks. 

why it increases

when more people knowing about the bitcoin and after realizing the value of bitcoin. so many people through to buy them. but the supply of a bitcoin less than the required quantity. which makes to increases the value of bitcoin.

why it decreases

according to increasing value of a bitcoin can also a reason for decreasing the value of bitcoins. it means that so many people bought bitcoins and they used them as convert into cash by exchanging, some are sold to others, some people transact to others accounts. in all these processes transaction is common. all you understand about miners who earn bitcoin and use them for themselves. after completing so many transactions miners earn so many millions of bitcoins. so many people don't know about bitcoins in that case bitcoin supply is more and demand is less.

* it depends on supply and demand like our market 

how to use a bitcoin and earn money?

1. Step 1: Download a bitcoin wallet. ...
2. step  2: create an account in the bitcoin wallet app or website
3. Step 3: Add Bitcoin or Bitcoin Cash to your wallet. ...
4. Step 4: Use a bitcoin wallet to send and receive bitcoins

To use a bitcoin it is very easy to understand for example: I have to give 1lakh to my friend by cash it has to be given by hand. but the problem is notes should not be damaged or toared any note is toared that will not be accepted to take them. in that case Bitcoin is the best solution to use for ex: each bitcoin cost is 2 lakh so you can transact half part of Bitcoin to your friend. it is the digital transaction that also saves paper-like net banking. but it is different because bitcoin is a programmed currency that is safe and secure in the transaction.

how many millions or thousands you can transact by a bitcoin.you must have created the account crypto wallets.

there are so many apps and websites are available to earn bitcoins and transact bitcoins.but it depends on you what you choose and what is trusted app you can find in the internet.

either you can convert your bitcoins into cash. There are different ways to convert them into real money. You can either use ATMs, debit cards for this purpose, or sell bitcoins for cash.

HOW TO BUY A BITCOIN ?

Don't worry about bitcoin purchasing it is very easy to buys a bitcoin. in India there are so many apps are there which are very trusted. you can buy a bitcoin in their apps. which is safe and fully legal to purchase.

In India, you can buy bitcoins from some trusted Bitcoin apps. There are quite a lot of such apps. To name a few there is Zebpay, UnoCoin, CoinSecure etc. Choosing the best platform to buy them from is another task. 

What is the minimum amount needed to buy Bitcoins in India?

*Don't think that a whole bitcoin you can purchase easily. it is impossible because a whole bitcoin cost is in millions but you can buy a small part of bitcoin. it may cost begins from 500 rupees and you can also spend thousands or lakhs it depends on how much part you want to buy.

*In us 2$ is the beginning price to buy a bitcoin.

*So when you are going to invest in bitcoins start buying from small parts and after the bitcoin cost raises more and more. you can sell your bitcoin in the high costs and gets more profit. when you experienced your first bitcoin part profit after the profit of that money you can purchase a some more big  part of bitcoin.

*It is not much possible that bitcoin every time gets raise more and more value. And sometimes a bitcoin fall down the value in the cryptos market. it depends on demand and supply like our market share marker.

*so don't think much that every time bitcoin is a profitable and sometimes it is very losable to you. it is depends on you how much you invest ?

Is it bitcoin is legal in india?

It is not illegal to sell, buy or trade bitcoins in India. In fact, bitcoins were never regulated by any central authority in India. However, in future, it is expected that the government might release some guidelines to control and trace bitcoin transactions happening in the country.

But the governments doesn't give any support after losing any money in bitcoin currency.it is the big problem that government give any support in this matter. commonly our government make justice when we are losed in a business or in a financial loss. but in the case of bitcoin wasn't become your backbone.

why the government doesn't recommend the bitcoin?

The government doesn't recommend the bitcoin because so many internet hackers and drug dealers are accepted to pay the drug deals through bitcoin. because bitcoin transaction is a private and secret transaction that means anybody can't caught the drug dealers. they are fully pay the transactions through bitcoin. in the past times through money transaction hackers are working very safely to hide the payment details. but know bitcoin is the best solution for the drug dealers to pay the deals and escape easily.

So, government is worry about the drug deals which can spoil the society. they don't want to happen this drug deals with bitcoin. they felt that a bitcoin make possible that drugs are purchased easily by dealers.

In the past times in India bitcoin has been banned. As reported by CNF, India has had a ban on Bitcoin trading since 2018. Imposed on the basis of a ban by the Reserve Bank of India (RBI), the ban was lifted in March this year 2020 . At that time, expectations were positive as the market opened up to receive 1.2 billion people in India. Since then, the market has changed.

Unknown facts of bitcoin

1) Bitcoin doesn't have a value in the past 10 years before. so many developers are developed the bitcoin by knowing that bitcoin doesn't have value its 0 value of a each bitcoin. but today bitcoin is a most valuable digital currency.

2)Satoshi nakamoto has been left the bitcoin developing project but the developing team developed the bitocoin by doing some works on updates and safety transaction of a bitcoin. today developers are so busy with bitcoin because so many people are using the bitcoin.

3)Only 21 million bitcoin only can be produced. the miners cant produced more than 21 milllion bitcoins. till now only 1,70,00,000 produced. The last Bitcoin is estimated to be mined in 2140, when the block reward would drop below 1 satoshi (the smallest denomination of BTC). Of course, this would require Bitcoin miners to be around 122 years from now, which is far from a certainty.

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