What are bitcoins and how do you get them? Everything You Need To Know.

what are bitcoins and how do you get them - Hey friends if you want to know what are bitcoins and how do you get them.Then your on right Article. Today i will tell you exactly what are bitcoins and how do you get them in simple language. So read this article from start to end.

What are bitcoins and how do you get them?
what is bitcoin? image by pixabay.com


what are bitcoins and how do you get them? 

Everybody must have already heard this word many times but still unable to understand exactly what are bitcoins and how do you get them?

In simple words Bitcoin is a decentralized digital money which is easy to transfer anywhere in world. it can be use for buying goods and services. It's cheaper and faster than on currencies.

Who Invented Bitcoin?

Bitcoin was created in 2009 by an unknown person or a group of persons using name SATOSHI NAKAMOTO. But no one ever seen or knew exactly whos is "Satoshi Nakamoto".

Many experts says that Bitcoin was founded by four companies namely Samsung, Toshiba, Nakamichi, Motorola. But no one is sure.

What are bitcoins and how do you get them?
what is bitcoin? image by pixabay.com


What was so special about Bitcoin? 

Bitcoin did something that nobody had been able to do this previously & that is : 

  • Decentralized - nobody individual or group owns this or nobody controls it.

  • Trust less (P2P) - No third parties.


  • Border less - no requirement for exchanges to move currency across borders.

  • Immutable - Unlike all financial systems today, it can never be changed or reversed.

  • Prevented double- spending - It solved the double spending problem, many digital currencies tried to crack

  • This is the first proof-concept for Blockchain - a technique that will literally change everything.

How is Bitcoin produced?

Imagine gold under the ground. We know it's there, yet its value is covered up until a miner 'digs' it up. In the Bitcoin world, miner finds Bitcoin by creating 'blocks' of the transactions going on in the networks and adds them on Blockchain.

We know that there are 21 million bitcoins in existence - but so far everyone has not been diagnosed. At the current rate of mining, all bitcoins will be 'dug' in 2140 sometime.

Is Bitcoin the only cryptocurrency?

Not at all,There are many other cryptocurrencies are available in market names such as Etherium, dash, bitcoin cash, ripple and other 1370 currencies.But bitcoin is still the most valuable digital currency. 

History of Bitcoin value.

The journey of bitcoin was started in January 2009 but Until 2010 price of bitcoin was $0 because there was no any exchange and market for Bitcoin. on 17 March 2010 first exchange start operating by name Bitcoinmarket.com

So the start price of 1 Bitcoin was $0.003 and its a lowest price ever and yet $19900 is a highest price.


How to get Bitcoins

There is many ways are available to get bitcoin you can buy bitcoin from exchanges and also you can receive payments in bitcoins.

conclusion

I hope you understand what are bitcoins and how do you get them? so please share this article with your friend and family.

The price of Bitcoin in increasing day by day so if you want to earn bitcoins and earn big money from it then read our other articles and know everything about Bitcoin.

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