How Bitcoin Works?

Bitcoin may be a Digital Currency that we are able to decision web Currency within the Common Language.

We can not store this currency in our house or in our wallet because it is not a kind of note or a coin. Therefore, you can use bitcoins just online.

Bitcoin may be a redistributed means, meaning there is no Authority, Government or any bank to control this currency.

It works on Peer To Peer Network Base. And bitcoin users believe this is a currency.
In this means, it has become a global currency.
Bitcoin was invented by Santoshi Nakomoto in the year 2009, and since then it has become quite popular Currency.

How much is Bitcoin

If you talk about the value of bitcoin, the price of 1 bitcoins in today's date (January 2017) is approximately 70,000 Indian Currency.

It is not that if you wish to shop for Bitcoin, you will have to buy 1 bitcoin only.

Actually, the littlest unit of bitcoin is Santoshi and one bitcoin = ten,00,00,000 (million) is Santoshi.

As in Indian Currency, there is 1 rupee = 100 paise. By itself, 10 million Santoshi constitute a bitcoins.

I mean you'll be able to break 1-bit cake to eight decimals.
You can also use 0.0001 bitcoin.

How to buy bitcoin

Well, there are many ways to buy bitcoin: -

• You can buy bitcoin from your local currency.

• By selling or selling any service or anything, you can take a bitcoin instead of that thing.

• Apart from this, you can earn Bitcoin with the help of a website or also on some other application.

What is a bitcoin miner?

Before knowing about the mining, let us tell you that there is a limitation of printing in every country, and there is also a limit to making bitcoins. And the limitation is that there can not be more than 21 million bitcoins in the market, and if you talk about it now, there is about 13 million Bitcoin in the market, then there are new bitcoins that come through the mining.

What is Bitcoin Mining?

Suppose you have sent some bitcoin to someone. To verify this process of sending and verifying those who are called Miners. Those who have High Power Computer And verify Bitcoin Transaction from these computers.

What are the advantages of Bitcoin?

• Bitcoin exchanges make lesser fees.

• Bitcoin will sell or purchase something within the world.

• That too without any hassle.

• You can do long run Investment in it as a result of the bitcoin is increasing within the records to date.

• The government does not monitor you in Bitcoin.

What is the harm of Bitcoin?

There is no management Authority, Bank, or any Government, due to which its cost is less.

If your Bitcoin Account gets hacked then you'll be able to not take a Bitcoin Baps and Government won't assist you in any means.